A salesgirl gets$20.00 for every$100.00 of bread she sells.In one month she sells 50 large loaves of bread at$12.00 each and 80 small loaves at$5.00 each.
Calculate her commission.​

Answer:

Commission is $200

Explanation:

Step 1: Calculate Sales Revenue

(50 * 12) + (80 * 5) = $1,000

Step 2: Calculate how many times she achieved $100 in sales

1,000 / 100 = 10

Step 3: Calculate Commission

20 * 10 = $200 in commission

Which of these statements is true?

Journalize the following sales transactions for Straight Shot Archery using the periodic inventory system. E (Record debits first, then credits. Exclude explanations from journal entries.
Aug. 1 Sold $6,500 of equipment on account, credit terms are 1/10, n/30.
Aug. 8 Straight Shot received payment from the customer on the amount due from August 1, less the discount.
Aug. 15 Sold $3,100 of equipment on account, credit terms are n/45, FOB destination.
Aug. 15 Straight Shot paid $90 on freight out.
Aug. 20 Straight Shot negotiated a $500 allowance on the goods sold on August 15.
Aug. 24 Received payment from the customer on the amount due from August 15, less the allowance.

Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $30,000 from County Bank and paid interest of $1,800. Lionel used the loan proceeds to pay his law school tuition. Calculate the amounts Lionel can deduct for higher education expenses and interest on higher-education loans under the following circumstances:

uses a periodic inventory system. The company has a beginning inventory of 350 units at $6 each on January 1. Hentertainment purchases 600 units at $5 each in February and 250 units at $7 each in March. There were no additional purchases or sales during the remainder of the year. Hentertainment sells 400 units during the quarter. If Hentertainment uses the LIFO method, what is its cost of goods sold

When using the cost of production report to analyze the change in direct materials cost per equivalent unit compared to conversion cost per equivalent unit, an investigation may reveal that direct materials costs a.may increase while conversion costs decrease because the two are separately calculated and depend on separate costs. b.will never decrease when conversion costs decrease. c.always increase between periods if conversion costs increase. d.always decrease between periods if conversion costs increase.

Bernie Company sells buttons to fabric stores. Sales are expected to be $2,046,299 in January, $2,484,001 in February and $3,162,122 in March. Bernie Company sets their prices so that they earn an average 46% gross profit on sales revenue. What is budgeted cost of goods sold for February? Round your answer to the nearest whole number. Don't enter commas or dollar signs.

On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $40,000. Residual value at the end of an estimated 7 year service life is expected to be $12,000. The company expects the equipment to operate for 12,500 hours. Required: a. Calculate depreciation expense for 2021 and 2022 using sum-of-the-years’-digits assuming the equipment was purchased on January 1, 2021. b. Calculate depreciation expense for 2021 and 2022 using sum-of-the-years’-digits assuming the equipment was purchased on March 31, 2021.

Banks are financial intermediaries that: have customer deposits as its primary asset and loans to borrowers as their primsry liability. have customer deposits as its primary asset and loans to borrowers as their primsry liability. provide liquid assets to lenders and long-term financing to borrowers. provide liquid assets to lenders and long-term financing to borrowers. are types of mutual fimds. are types of mutual fimds. have customer deposits as its primary asset and that provide liquid assets to lenders. have customer deposits as its primary asset and that provide liquid assets to lenders. ncrease transaction costs to both borrowers and depositors.

Required: a. - d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 30,000 and 32,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 32,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e.,

Hosung Company's Cash account shows a balance of $801.65 as of August 31 of this year. The balance on the bank statement on that date is $1,383.00. Checks for $260.50, $425.10, and $331.00 are outstanding. The bank statement shows a check issued by another depositor for $237.25 (in other words, the bank made an error and charged Hosung Company for a check written by another company). The bank statement also shows an NSF check for $180 received from one of Hosung's customers. Service charges for the month were $18. What is the adjusted ledger balance of cash as of August 31

You are planning to buy a house in eight years. Approximately how much do you need to deposit today to have a $10,000 down payment if your investment will make 5%? *.677

A)$6,770

B) $6,590

C) $7,470

D) $9,400

E) $10,000

David is trying to decide if it makes sense to outsource the purchasing function. He has a chain of 12 restaurants and employs two buyers at an annual fixed cost of $85,000. David estimates that the variable cost of each purchase order placed is $15. An outsourced company will perform the purchasing function for a fixed annual fee of $100,000 plus $5 for each purchase order placed. Last year, David placed 1400 purchase orders.

Required:
a. What was the in-house purchasing cost last year?
b. What would the cost be if outsourced?
c. If David estimates it will place 1600 purchase orders next year, should he outsourced?

Beck Manufacturing reports the following information in T-account form for 2019. Raw Materials Inventory Begin. Inv. 10,000 Purchases 45,000 Avail. for use 55,000 DM used 46,500 End. Inv. 8,500 Work in Process Inventory Begin. Inv. 14,000 DM used 46,500 Direct labor 27,500 Overhead 55,000 Manuf. costs 143,000 Cost of goods manuf. 131,000 End. Inv. 12,000 Finished Goods Inventory Begin. Inv. 16,000 Cost of goods manuf. 131,000 Avail. for sale 147,000 Cost of Goods Sold 129,000 End. Inv. 18,000 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year.

A process includes 9 tasks and there are 3 workers. Each task can be assigned to only one worker and each worker must be assigned consecutive tasks.
The time to complete tasks 1 to 9( in seconds) are as follows: 45 55 15 25 50 5 30 95 50
What is the capacity of this process in units per hour?

Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 140 shares of its common stock on May 1 for $7,000. On July 1, it reissued 70 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2

Difference between free market and capitalism.​

Marvin Industries must choose between an electric-powered and a coal-powered forklift machine for its factory. Because both machines perform the same function, the firm will choose only one. (They are mutually exclusive investments.) The electric-powered machine will cost more, but it will be less expensive to operate; it will cost $102,000, whereas the coal-powered machine will cost $69,500. The cost of capital that applies to both investments is 10%. The life for both types of machines is estimated to be 6 years, during which time the net cash flows for the electric-powered machine will be $26,150 per year, and those for the coal-powered machine will be $20,000 per year. Annual net cash flows include depreciation expenses.
Calculate the NPV for each type of truck. Round your answers to the nearest dollar.
Electric-powered truck $
Gas-powered truck $
Calculate the IRR for each type of truck. Round your answers to two decimal places.
Electric-powered truck %
Gas-powered truck %

Eva received $68,000 in compensation payments from JAZZ Corp. during 2018. Eva incurred $13,500 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,000. Based on these facts answer the following questions: Use Tax Rate Schedule for reference.
a. Assume that Eva is considered to be an employee. What amount of FICA taxes is she required to pay for the year?
b. Assume that Eva is considered to be an employee. What is her regular income tax liability for the year?
c. Assume that Eva is considered to be a self-employed contractor. What is her self-employment tax liability and additional Medicare tax liability for the year?

Stage 2 ABC for a Wholesale Company Information is presented for the activity costs of Oxford Wholesale Company: Activity Cost per Unit of Activity Driver Customer relations per month $95.00 per customer Selling 0.11 per sales dollar Accounting 5.00 per order Warehousing 0.50 per unit shipped Packing 0.25 per unit shipped Shipping 0.20 perpound shipped
The following information pertains to Oxford Wholesale Company’s activities in Massachusetts for the month of March 2014:_______.
Number of orders 240
Sales revenue $124,400
Cost of goods sold $ 68,940
Number of customers 30
Units shipped 4,700
Pounds shipped 70,500
Required:
Determine the profitability of sales in Massachusetts for March 2014.

At the beginning of Year 2, the Redd Company had the following balances in its accounts:
Cash $ 16,800
Inventory 9,000
Land 3,900
Common stock 17,000
Retained earnings 12,700
During Year 2, the company experienced the following events:
Purchased inventory that cost $13,100 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $990 were paid in cash.
Returned $900 of the inventory it had purchased from Ross Company because the inventory was damaged in transit. The seller agreed to pay the return freight cost.
Paid the amount due on its account payable to Ross Company within the cash discount period.
Sold inventory that had cost $12,500 for $21,500 on account, under terms 2/10, n/45.
Received merchandise returned from a customer. The merchandise originally cost $2,150 and was sold to the customer for $3,000 cash. The customer was paid $3,000 cash for the returned merchandise.
Delivered goods FOB destination in Event 4. Freight costs of $880 were paid in cash.
Collected the amount due on the account receivable within the discount period.
Sold the land for $7,300.
Recognized accrued interest income of $650.
Took a physical count indicating that $5,100 of inventory was on hand at the end of the accounting period. (Hint: Determine the current balance in the inventory account before calculating the amount of the inventory write down.)
Record the events in general journal format. Assume that the perpetual inventory method and gross method is used.

Relevant Range and Fixed and Variable Costs Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 25,000 to 100,000 memory chips per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:

Memory chips produced ...............45,000 60,000 75,000

Total costs:
Total variable costs ................. $1,350,000 (D) (J)
Total fixed costs .................... 810,000 (E) (K)
Total costs .......................... $2,160,000 (F) (L)
Cost per unit:
Variable cost per unit ............... (A) (G) (M)
Fixed cost per unit .................. (B) (H) (N)
Total cost per unit .................. (C) (I) (O)

Required:
Complete the cost schedule. When computing the cost per unit, round to two decimal places.

A corporation reports the following year-end balance sheet data. The company's debt ratio equals:
Cash $ 53,000 Current liabilities $ 88,000
Accounts receivable 68,000 Long-term liabilities 30,000
Inventory 73,000 Common stock 113,000
Equipment 158,000 Retained earnings 121,000
Total assets $ 352,000 Total liabilities and equity $ 352,000
a. 0.50
b. 1.38
c. 0.34
d. 2.20
e. 0.66

During 2017, Waterway Industries expected Job No. 26 to cost $300000 of overhead, $500000 of materials, and $200000 in labor. Waterway applied overhead based on direct labor cost. Actual production required an overhead cost of $290000, $470000 in materials used, and $190000 in labor. All of the goods were completed. What amount was transferred to Finished Goods

Princeton Avionics makes aircraft instrumentation. Its basic navigation radio requires $60 in variable costs and $4,000 per month in fixed costs. Princeton sells 20 radios per month. If the company further processes the radio, to enhance its functionality, it will require an additional $40 per unit of variable costs, plus an increase in fixed costs of $500 per month. The current sales price of the radio is $280. The CEO wishes to improve operating income by $1,200 per month by selling the enhanced version of the radio. In order to meet this target, the sales price to be charged for the enhanced product is

g Units: Beginning Inventory: 85,000 units, 70% complete as to materials and 20% complete as to conversion. Units started and completed: 260,000. Units completed and transferred out: 345,000. Ending Inventory: 32,500 units, 40% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the equivalent units of materials. Group of answer choices 227,500 349,875 298,500 332,875 358,000

Cost pools should be charged to responsibility centers by using: Multiple Choice budgeted amounts of allocation bases because the behavior of one responsibility center should influence the allocations to other responsibility centers. actual amounts of allocation bases because the behavior of one responsibility center should influence the allocations to other responsibility centers. actual amounts of allocation bases because the behavior of one responsibility center should not influence the allocations to other responsibility centers. some other approach. budgeted amounts of allocation bases because the behavior of one responsibility center should not influence the allocations to other responsibility centers.

Help me ASAP. 50 Points.
How is social and domestic policy created and implemented? How involved should govemment be in solving various problems in our country? That is an enduring issue in the United States. For each of the examples, decide whether the hypothetical problem should be solved by (a) government, (b) government and the private sector acting together, or (c) the private sector (business and/or charity). Give your reasons for each. •A few ships have crashed near a harbor because it lacks a working lighthouse Americans' health is declining due to poor nutrition. Many high school graduates do not have the skills needed to be successful in the workforce . Sometimes, farmers or ranchers lose an entire crop or herd to bad weather. Such a loss can bankrupt a small farm. An alarming number of people have been injured while using chainsaws • Home prices fell sharply in some cities and many homeowners could not afford to pay their mortgages. • Fast-food workers complain that their pay-generally the federal minimum wage-is not enough to support their families • A business cannot market its products effectively because it does not have current information about the demographics of the community

Assume a small nation has the following statistics: its consumption expenditure is $15 million, investment is $2 million, government expenditure on goods and services is $1 million, exports of goods and services to foreigners is $1 million, and imports of goods and services from foreigners is $1.5 million. Calculate this nation's GDP

42-43. For the following independent situation for an individual taxpayer. Item Use (Personal or Business) Business Basis $25,000 FMV before the casualty $17,000 FMV after the casualty None Adjusted gross income (before any allowable casualty loss) $50,000 Insurance proceeds $10,000 42. The starting point for the calculation of the loss deduction is:

Multiplication. Phyllis, who is 30 years old, works for We Add for You Accounting. Phyllis has worked there for a number of years and is considering quitting in order to spend more time with her three active triplets, Sunny, Fussy, and Perky. She asks her boss, Bolivar, about the pension plan at We Add for You. Her boss tells her that she is not entitled to that information until she is at least 60 years old. Phyllis also asks about retaining her medical insurance protection if she quits and is told that she would have no right to do so. Bolivar also throws in that he has been monitoring her conversations and that he particularly enjoys the conversations between her and her single female friends involving failed dating experiences. He asks her to keep those up. Phyllis tells him that her personal phone calls are none of his business. Bolivar says that he can listen if he wants because the phones are his. Phyllis ends up starting her own company called We Multiply for You, and makes much, much more money. (In answering the following questions, assume all federal laws apply and that any pension and medical plan qualifies for regulation under federal law.) Which of the following addresses the retention of medical benefits upon leaving a job?

a. The Medical Benefits Retention Act (MBRA)
b. The Comprehensive Medical Benefits Retention Act (CMBRA)
c. The Consolidated Omnibus Budget Reconciliation Act (COBRA)
d. The Health and Maintenance Act (HMA)
e. The Americans with Disabilities Act (ADA)