User Account

All Pages

What was its contribution margin

Assignment Help Accounting Basics
Reference no: EM132612341

Question - The Card Shop buys and sells cards. They buy cards for $25 and sell them for $35, on average. The Shop pays its employees 10% commission on each sale. The shop's rent is $1,200 per month, and salaries are $1,500 a month. If the shop sold 4,000 cards last year, what was its contribution margin?

a. $8,000

b. $22,000

c. $26,000

d. $40,000

Reference no: EM132612341

Questions Cloud

Identify three environmental influences on microbial growth : Identify three environmental influences on microbial growth. How does each affect microbial distribution?
Describe one of the three major distribution strategies : Is distribution an important element of the marketing mix? What value does it add to the product? Describe one of the three major distribution strategies
Describe the various technologies that are emerging : This week's journal article was focused on the Complexity of Information Systems Research in the Digital World. Complexity is increasing as new technologies.
Define microbial antagonism : Based upon data from the Human Microbiome Project (HMP), define microbial antagonism and discuss how various microbial populations keep each other
What was its contribution margin : The shop's rent is $1,200 per month, and salaries are $1,500 a month. If the shop sold 4,000 cards last year, what was its contribution margin
Define the distinction between leadership and management : After completing the reading this week, please review table 1.2 in the text and review the distinction between leadership and management. Then think about this.
How do analyze integrated marketing communications : How do Analyze Integrated Marketing Communications. How will you provide clarity and consistency across multiple mediums to maximize the communicative impact?
Calculate the point prevalence and period prevalence : Calculate the point prevalence and period prevalence of the disease?
What is the variable cost of producing each glove : Hats, Inc. makes gloves and has calculated the average cost per unit of a production level of 14,500 gloves to be $5.00. What is the variable cost of producing

Reviews

Write a Review

Accounting Basics Questions & Answers

  Characteristic of absorption costing

What characteristic of absorption costing caused the drop in net operating income for the second quarter and what could the controller have said to explain the problem?

  Determining the macki capital account

Partners Ken and Macki each have a $40,000 capital balance and share income and losses in a 3:2. Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000. If the noncash assets are sold for $80,000, the Macki's capital acc..

  What does a relatively high accounts receivable turnover

What does a relatively high accounts receivable turnover indicate about a company's short-term liquidity? What three factors would influence your evaluation

  How many units are in ending work in process

If beginning work in process was 9,000 units, how many units are in ending work in process

  Discuss what is the amount of the last dividend paid

The market rate of return on this stock is 14.6 percent. What is the amount of the last dividend paid

  Prepare a properly formatted statement of cash flows

Using the information provided, prepare a properly formatted statement of cash flows using the direct method

  What is the original value of the firm

Shares outstanding, n0 200,000 and Tax Rate, T (Federal-plus-state) 40%. What is the original value of the firm

  Calculate the market value at the date of issuance

Calculate the market value at the date of issuance of an investment in $700,000, ten-year, 8% bond issuance, paying interest annually

  Illustrate steps in recording process for each transactions

Write a memorandum to your instructor that explains and illustrates the steps in the recording process for each of the March 15 transactions.

  Explain why the expense recorded in the first quarter

Explain why the expense recorded in the first quarter does not equal the amount paid during the quarter. How much refund was issued in 2012

  What methods are used in practice to determine

What methods are used in practice to determine the extent of progress toward completion? Identify some "input measures" and some "output measures" that might be used to determine the extent of progress.

  The ending inventory of pocket calculators was 800 units

the ending inventory of pocket calculators was 800 units higher at the end of the month than at the beginning of the

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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