Answer:
Julie made <u>$5,087.25</u> in commission on this sale.
Explanation:
Selling price of the property = Listed price * Percentage of listed at which the property is sold = $340,000 * 95% = $323,000
Commission on sales of the property = Selling price of the property * Commission rate = $323,000 * 7% = $22,610
Amount of the commission to Julie's broker = Commission on sales of the property * Commission share percentage to Julie's broker = $22,610 * 45% = $10,174.50
Since Julie and her broker split the commission equally, we have:
Commission made by Julie from the property sale = Amount of the commission to Julie's broker / 2 = $10,174.50 / 2 = $5,087.25
Therefore, Julie made <u>$5,087.25</u> in commission on this sale.
Answer:
The correct word for the blank space is: 16.
Explanation:
Percentages represent part of a number. The result could be higher or lower than the original number. Percentages are calculated by multiplying the original number for the amount of the percentage desired and dividing that preliminary result by one hundred (100).
Thus, in the example:
Sales closed per day = (Sale opportunities) x (percentage of sales closed)
Sales closed per day = 26 x 64%
Sales closed per day = 26 x (64/100)
Sales closed per day = 16,64
As sales cannot be fractioned, the sales closed per day are 16.
Answer:
The current stock price should be at $60.15.
Explanation:
We have the dividend paid next year = 1.05 x 1.25 = $1.3125.
So, the present value of the growing annuity of dividend stream in the next 7 years is calculated as:
[ 1.3125 / (12% - 25%) ] x [ 1 - [ (1+25%)/( 1+12%) ] ^7 ] = $11.68.
The present value of the dividend stream from year 8 to infinity ( growing perpetuity):
[ 1.05 x 1.25^7 x 1.07/ (12% - 7%) ] / 1.12^7 = $48.47.
The price of the stock should be equal to the sum of present value of the two dividend stream above which is 11.68 + 48.47 = $60.15.
Thus, the answer is $60.15 per share.
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Answer:
Direct material price variance= $1,200 favorable
Explanation:
Giving the following information:
Standard price= $8 per gallon
Last month, 3,000 gallons of direct materials were purchased for $22,800.
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Actual price= 22,800/3,000= $7.6 per gallon
Direct material price variance= (8 - 7.6)*3,000= $1,200 favorable
