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Fittoniya [83]
2 years ago
15

Adnan Hassan earned 5% commission as a sales trainee. After

Business
1 answer:
wel2 years ago
8 0

Answer:

He earns $296780 as a Sales Trainee and $377094 as a Sales Associate

<em />

Explanation:

Given

Let x represents his sales as a sales trainee

Let x represents his sales as a sales associate

Total Sales: x + y = 673874

Total Commission: 0.05x + 0.08y = 45006.52

Required

Find x and y

Equations

x + y = 673874 --- (1)

0.05x + 0.08y = 45006.52 --- (2)

Make  y the subject of formula in (1)

x + y = 673874

y = 673874 - x

Substitute this in (2)

0.05x + 0.08y = 45006.52

0.05x + 0.08(673874 - x) = 45006.52

Open Bracket

0.05x + 53909.92 - 0.08x = 45006.52

Collect Like Terms

0.05x  - 0.08x = 45006.52 - 53909.92

- 0.03x = -8903.4

Divide through by -0.03

x = \frac{-8903.4}{-0.03}

x = 296780

Recall that

y = 673874 - x

y = 673874 - 296780

y = 377094

<em>Hence;</em>

<em>He earns $296780 as a Sales Trainee and $377094 as a Sales Associate</em>

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Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufacturing process in the Cutting D
andreyandreev [35.5K]

Answer:

(E) 225,000; 195,000

Explanation:

Provided information,

Method used = FIFO

Provided units in opening as well as closing are 100% complete with respect to materials.

Opening = 50,000 units for $70,500 which were 100% complete with respect to material

During the month = 225,000 units for $342,000

Since both are 100 % complete for materials

Equivalent units for materials for the month = 225,000 = 225,000 units

Provided for conversion cost

Opening = 50,000 which is 40% complete, that means 60% was not complete which is completed during the month

= 50,000 \times 60 % = 30,000 units during the month

225,000 units newly added this month out of which 150,000 units are completed

Remaining 75,000 units are 20% complete for conversion cost = 75,000 \times 20% = 15,000 units completed.

Equivalent units completed during the month = 30,000 from opening + 150,000 + 15,000 = 195,000 units

Therefore correct option is

(E) 225,000; 195,000

8 0
2 years ago
Balance sheet and income statement data indicate the following: Bonds payable, 10% $1,000,000 Preferred 5% stock, $100 par (no c
dangina [55]

Answer:

The Time interest earned ratio is 4.5

Explanation:

Given:

Bonds payable 10% in 2 years                                                   $1000000

Preferred 5% stock $100 par (no change during the year)      300000

Common stock, $50 par (no change during the year)             2000000

Income before income tax for year                                            350000

Income tax for year                                                                     80000

Common dividends paid                                                             50000

Preferred dividends paid                                                             15000

Time interest earned ratio is a measure of how a company is able to pay up its debts based on its income. It is the ratio of earnings before tax and interest to total interest expense.

Interest expense = $1000000 × 10% = $100000 × 0.1 = $100000

Therefore the earnings before tax and interest = Income before income tax for year + Interest expense = $350000 + $100000 = $450000

the earnings before tax and interest = $450000

Time interest earned ratio = earnings before tax and interest / Interest expense  = $450000 / $100000 = 4.5

The Time interest earned ratio =  4.5

7 0
2 years ago
Vaughn Manufacturing has outstanding 596000 shares of $2 par common stock and 119000 shares of no-par 6% preferred stock with a
natima [27]

Answer: $107,900

Explanation:

Cumulative Preferred Shares refer to shares that a company has to pay dividends eventually. This means that if they are unable to pay for some years, they are to accrue that payment until they are able to.

There are 119000 shares of no-par 6% preferred stock with a stated value of $5.

That means preferred shares are liable to the following amount of dividends,

= 119,000 * 5 * 6%

= $35,700

Preferred Shares have not being paid for the past 2 years and need to be paid in the current year as well. That means 3 payments,

= 35,700 * 3

= $107,100

Preferred Shares are to be paid $107,100 out of the $215,000 with the rest going to common shares.

Amount going to Common Shares is,

= 215,000 - 107,100

= $107,900

Common Stockholders are to receive $107,900

7 0
2 years ago
Doogan Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct m
RSB [31]

Answer:

d. $1,540 F

Explanation:

The formula to compute the variable overhead efficiency variance is shown below:

= (Actual direct labor hours - standard direct labor hours) × variable overhead per hour

where,

Actual direct labor hours is 2,380

And, the standard direct labor hours equal to

= 5,200 units × 0.5

= 2,600 hours

Now put these values to the above formula  

So, the value would equal to

= (2,380 hours - 2,600 hours) × $7

= 1,540 favorable

5 0
2 years ago
Getting a college degree is a good idea because _____.
Aliun [14]
B. because having a degree could help you with money
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2 years ago
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