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sveticcg [70]
1 year ago
5

Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. The home comes equipped with all furnishings. T

he Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. What kind of mortgage are they looking for?
Business
1 answer:
sweet-ann [11.9K]1 year ago
8 0

Answer: package mortgage

Explanation:

From the question, we are informed that Mr and Mrs. Haley are purchasing beachfront property in an upscale development and that the home comes equipped with all furnishings.

We are further told that the Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. This shows that they are looking for package mortgage.

A package mortgage is a form of mortgage whereby the personal property and the furniture will have to be included when buying the house.

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Lucy Zimmerman has organized her craft shop as a sole proprietorship. Her sister has warned her about _____, the legal principle
grigory [225]

A sole proprietorship is not a legal entity but the person who owns the business and is responsible for paying all debts that the business accrues.  This business is linked to the persons social security number and there is no legal distinection between the owner and the business entity. Lucy's sister probably warned Lucy about sole proprietorship and the legal principle that holds her responible for paying off all of the debts of the business.

4 0
2 years ago
Entries for Factory Costs and Jobs Completed Collegiate Publishing Inc. began printing operations on March 1. Jobs 301 and 302 w
Naddik [55]

Event                  Account                   Debit                          Credit  

a                  Work in process             $ 55,500  

                 Manufacturing plant Overhead   $ 4,500  

                             Materials                                                 $ 60,000  

                     (To record material utilized)  

b                       Work in process               $ 106,800  

                     Manufacturing plant Overhead    $ 8,200  

                               Wages Payable                                 $ 115,000  

                            (To record work utilized)  

c                     Work in process ($106,800*25%) $ 26,700  

                            Manufacturing plant Overhead                  $ 26,700  

                 (To record overhead applied)   $7,750/$31,000=25%  

d                               Finished Goods        $ 122,750

                                     Work in process                                $ 122,750  

                 (To record products finished) ($51,250+$71,500)

7 0
2 years ago
The president does not want to change the selling price. Instead, he wants to increase the sales commission by $1.70 per unit. H
Natalija [7]

Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $80 per unit. Variable expenses are $40.00 per unit, fixed expenses total $200,000 per year. Its operating results for last year were as follows:

Sales $2,160,000

Variable expenses $1,080,000

Contribution margin $1,080,000

Fixed expenses $200,000

Net operating income $ 880,000

Answer:

$732,625

Explanation:

The contribution per unit is:

Contribution per unit = Selling price per unit - variable cost per unit - Sales commission per unit

Contribution per unit = $80 - $40 - $1.7 = $38.3 per unit

The increase in advertisement expense can be calculated under the new condition by the following formula:

New Sales ($) = (Fixed cost + Profit) * Sales Prices per unit  / Contribution Per unit

By putting values we have:

$2,160,000 * 125% = (Fixed cost + $360,000)* $80 per unit / $38.3 per unit

$2,700,000 * $38.3 per unit / $80 per unit  = Fixed Cost + $360,000

$1,292,625 - $360,000 = Fixed Cost

Fixed Cost = $932,625

This means that the maximum amount of increase in the advertisement expense would be $732,625 to earn a profit of $360,000

5 0
1 year ago
Read 2 more answers
The amount of money collected by a snack bar at a large university has been recorded daily for the past five years. Records indi
disa [49]

Answer:

A) skewed to the right with a mean of $4000 and a standard deviation of $450.

Explanation:

While the days are picked at random, the size of the sample is enough to represent the reality. Among the random pick those days of football game will be picked too and will skewed to the right the distribution

The distribution will not change into normal as the reality is that distribution of revenue is not normally distributed among the days of the year.

3 0
1 year ago
Suppose there are two breakfast restaurants in your college town, Waffle Kingdom and Flip’s Flapjacks, and they decide to operat
3241004551 [841]

Answer:

a. For both restaurants to abide by the cartel’s agreement.

Explanation:

These type of agreements unite companies that have common interests or are in a similar industry to form an association.

3 0
1 year ago
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