You are offered two different sales jobs. Thefirst company offers a straight commission of 4% ofthe sales. The second company offers a salary of$410 per week plus 1% of the sales. How muchwould you have to sell (in dollars) in a week in orderfor the straight commission offer to be at least asgood as the second offer? Do not include commas inyour answer.%24

Here we should find indifferent point. That is sales at which commission offered from both…

Answered: You are offered two different sales…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 18% of cost. a. How much does Rolf's Golf store buy the golf balls for? _____per dozen b. What is the price needed to cover all the costs and expenses? c. What is the highest rate of markdown at which the store will still break even? d. What markdown rate would price the golf balls at cost?
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You are the manager of a rental car company. A customer, Sandy Furrow, has asked you for an estimate of charges for a nine day rental of an SUV. She expects to drive 670 miles. If the company charges $52.50 per day plus 17 1/2 cents per mile for this category of vehicle, what would be the total rental charge (in $) for Sandy's trip?
Golden Gate Novelties (GGN) sells souvenir key chains at the local airport. GGN charges $13.00 per chain. The variable cost for a chain, including the wholesale cost of the chain, packaging, the commission paid to the airport operator, and so on, is $11.40. The annual fixed cost for GGN is $15,120. Required: How many cases must Golden Gate Novelties sell every year to break even? Note: Do not round intermediate calculations. The owner of GGN believes that the company can sell 12,600 chains a year. What is the margin of safety in terms of the number of chains?
Which of the following is an example of Step Costs? Select one: 1. A company’s advertisement assistant is paid $100 for every new partner who agrees to distribute the company’s marketing materials. 2. The salary of a company’s social media manager is $2,500 per month. The monthly salary of the head of the marketing department is $4,000. 3. A company employs a salesperson whose salary is $3,000 per month. Once the monthly sales exceed $100,000, the salesperson receives the commission of 8% of the sales made. 4. A sales company needs one manager for up to 100 clients, 2 managers for 101 to 200, and so forth as the number of clients increases.
Q1.Determine the production plan that will maximise the weekly profit of MJD Ltd and prepare a profit statement showing the profit your plan will yield. Q2.The marketing director of MJD Ltd is concerned about the company’s ability to meet the quantity demanded by its customers. Two alternative strategies are being considered to overcome this: To increase the number of hours worked using the existing machinery by working overtime. Such overtime would be paid at a premium of 50% above normal labour rates, and variable overheads costs would be expected to increase in proportion to labour costs. To buy product B from an overseas supplier at a cost of £19 per unit; which includes the cost of delivery. This purchased product would need to be repackaged at a cost of £1 per unit before it can be sold Evaluate each of the two alternative strategies and write a report to the marketing director discussing which strategy should be adopted.
Rolf's Golf store sells golf balls for 27 per dozen. The store's overhead expenses are 28% of cost and the owners require a profit of 22% of cost. a. How much does Rolf's Golf store buy the golf balls for? b. What is the price needed to cover all the costs and expenses? c. What is the highest rate of markdown at which the store will still break even?
Part I. To recap, W.T.'s planning on the following: Newspaper ad Social media manager Payment collection Gas $120 per month $100 per month; $1 per job scheduled $0.75 per job $4.00 per job Considering his analysis of similar services and to keep things simple, w.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he'll likely need to create different types of "jobs". For example, purchasirg a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We'll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following table assuming W.T. completes 10 jobs in a single month. Item Per Job Total Computations (10 jobs) Sales $ Less:…
Suppose you have a job that pays a monthly salary of (g) $_3,900____.Unfortunately, recent events have significantly reduced your company’s cash flow.Your employer says that everyone needs to take a 6.5% pay cut or the company mayhave to close.(a) When the 6.5% pay cut is applied to your original monthly salary, by how many dollars will your monthly pay decrease? Round your result to the nearest cent. (4) (b) What will your reduced monthly salary be after the 6.5% decrease is applied to your original monthly salary? Round your result to the nearest cent. (3) Your employer promises that when business returns to normal, everyone will get a6.5% pay raise to bring their pay back to their original levels.(c) When the 6.5% pay raise is applied to your reduced monthly salary, by how many dollars will your monthly pay increase? Round your result to the nearest cent. (4) (d) What will your new increased monthly salary be after the 6.5% increase is applied to your reduced monthly salary? Round…
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