Use the high–low method to determine monthly salary

Assignment Help Financial Accounting
Reference no: EM131211327

During a year, Teri’s monthly sales compensation ranged between $14,000 and $18,800 per month and units sold ranged between 1,300 and 2,100 units for those same months.

Use the high–low method to determine Teri’s monthly salary and commission rate per unit sold and then calculate the total number of units sold in a year when Teri’s total compensation amounted to $143,400.

Reference no: EM131211327

Questions Cloud

Good example of derivative mismanagement : JPMorgan is a good example of derivative mismanagement. Please note the discussion of recent examples of mismanagement of derivatives on pages 904 to 907 of the textbook. Class, Futures contracts can be used for both speculation and hedging. What is ..
Discuss recent examples of mismanagement of derivatives : Forward contracts are agreements where one party agrees to buy a commodity at an established price on a specific future date and the other party agrees to sell the product. Futures contracts are marked to market on a daily basis, so gains and losses ..
Certified public accountant-unsecured line of credit : Max, a certified public accountant, went to First Florida Bank, N.A., to negotiate a $500,000 unsecured line of credit for C.M. The audited financial statements that Mitchell gave the bank did not indicate that C.M. owed any money. In fact, C.M. owed..
What is the firms inventory conversion period : On average, a firm purchases $2,000,000 in merchandise a month. It has inventories equal to two month purchases on hand at all times. If the firm analyzes its accounts using a 360-day year, what is the firm’s inventory conversion period?
Use the high–low method to determine monthly salary : During a year, Teri’s monthly sales compensation ranged between $14,000 and $18,800 per month and units sold ranged between 1,300 and 2,100 units for those same months. Use the high–low method to determine Teri’s monthly salary and commission rate pe..
Amount and character of winchesters gains and losses : Winchester LLC sold the following business assets during the current year: automobile, $30,000 cost basis, $12,000 depreciation, proceeds $20,000; What is the amount and character of Winchester's gains and losses before the 1231 netting process?
Considering the purchase of a new machine for cash : A company is considering the purchase of a new machine for cash. the company is using the net present value method to evaluate this capital expenditure. the machine will be purchased if the sum of the present values of the future net cash flows is:
Considering inflation in discounted cash models : Considering inflation in discounted cash models
Calculate the impact of the exhibit on company profit : Infinity Designs, an interior design company, has experienced a drop in business due to an increase in interest rates and a corresponding slowdown in remodeling projects. To stimulate business, the company is considering exhibiting at the Home and Ga..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd