Yuli Lu works as a commission merchant who helps businesses sell their existing office equipment, except computers. For desks, tables, chairs, and filing cabinets, Yuli charges 18% of the sales price. For printers and copiers, she charges 30%. She also deducts any delivery charges. For Harris Corp, she sold assorted furniture at $7,860 and two large copiers for $2,450 each. The total delivery charges were $318. Compute the net proceeds that would be due to Harris Corp.
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- Westover Motors is a small car dealership. On average, it sells a car for $32,000, which it purchases from the manufacturer for $28,000. Each month, Westover Motors pays $53,700 in rent and utilities and $69,000 for salespeople’s salaries. In addition to their salaries, salespeople are paid a commission of $400 for each car they sell. Westover Motors also spends $10,500 each month for local advertisements. Its tax rate is 40%. Q1. How many cars must Westover Motors sell each month to break even? Q2. Westover Motors has a target monthly net income of $69,120. What is its target monthly operating income? How many cars must be sold each month to reach the target monthly net income of $69,120?Patricia's Quilt Shoppe sells homemade Amish quilts. Patricia buys the quilts from local Amish artisans for $220 each, and her shop sells them for $370 each. She also pays a sales commission of 4% of sales revenue to her sales staff. Patricia leases her country-style shop for $800 per month and pays $1,600 per month in payroll costs in addition to the sales commissions. Patricia sold 95 quilts in February. Prepare Patricia's traditional income statement and contribution margin income statement for the month. Prepare the traditional income statement for the month. Patricia's Quilt Shoppe Income Statement For the Month Ended February 28 Less: Less: ASuppose Frances earns $825 per week working as a programmer for PC Pros. She uses $9 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Dmitri $450 per week to work the cash register. Dmitri uses $175 to purchase software from PC Pros. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Frances spends $9 to buy a box of aspirin. Frances earns $825 per week working for PC Pros. Dmitri spends $175 to purchase software from PC Pros. Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply. a. Frances's labor b. The $450 per week Dmitri earns working for Pillmart Pharmacy c. The aspirin Frances receives d. The $175 Dmitri spends to purchase software from PC Pros
- Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of 25,750 and is capable of processing as many as 6,500 purchase orders per year. Each clerk uses a PC and laser printer in processing orders. Time available on each PC system is sufficient to process 6,500 orders per year. The cost of each PC system is 1,100 per year. In addition to the salaries, Elliott spends 27,560 for forms, postage, and other supplies (assuming 26,000 purchase orders are processed). During the year, 25,350 orders were processed. Required: 1. Classify the resources associated with purchasing as (1) flexible or (2) committed. 2. Compute the total activity availability, and break this into activity usage and unused activity. 3. Calculate the total cost of resources supplied (activity cost), and break this into the cost of activity used and the cost of unused activity. 4. (a) Suppose that a large special order will cause an additional 500 purchase orders. What purchasing costs are relevant? By how much will purchasing costs increase if the order is accepted? (b) Suppose that the special order causes 700 additional purchase orders. How will your answer to (a) change?Can you please solve this accounting question ?The Cycle Shoppe has decided to offer credit to its customers during the spring selling season. Sales are expected to be 330 bicycles. The average cost to the shop of a bicycle is $300. The owner knows that only 93 percent of the customers will be able to make their payments. To identify the remaining 7 percent, she is considering subscribing to a credit agency. The initial charge for this service is $540, with an additional charge of $6 per individual report. What is the amount of the net savings from subscribing to the credit agency? A. $3,790 B. $3,920 C. $4,080 D. $4,410 E. $4,950
- Jordan opens her own custom sign business where she sells a sign for $80 a piece. She has been able to sell 20 signs per month. Her costs of materials to make the signs is $15 and she is paying sales tax of $4 per sign. In addition, she purchased online ads for $300 per month and pays for printing of $100 per month. To be able to run the business, Jordan has reduced her hours so her salary fell from $3,000 per month to $2,600 per month and she no longer rents out the studio apartment at her home for $500 per month. Calculate the below for Jordan's monthly financial statement. Total Sales Revenue Total Explicit Cost Accounting Profit Total Implicit Cost Total Economic ProfitRita Jekyll operates a sales booth in computer software trade shows, selling an accounting software package, Abacus. She purchases the package from a software company for $175 each. Booth space at the convention hall costs $13,000 per show. Required a. Sales at past trade shows have ranged between 300 and 500 software packages per show. Determine the average cost of sales per unit if Ms. Jekyll sells 300, 350, 400, 450, or 500 units of Abacus at a trade show. Use the following chart to organize your answer. Is the cost of booth space fixed or variable? b. If Ms. Jekyll wants to earn a $56 profit on each package of software she sells at a trade show, what price must she charge at sales volumes of 300, 350, 400, 450, or 500 units? c. Record the total cost of booth space if Ms. Jekyll attends four, five, six, seven, or eight trade shows. Is the cost of booth space fixed or variable relative to the number of shows attended? d. Ms. Jekyll provides decorative shopping bags to customers who…Anna sells a certain pair of earrings at her store for $45.20 per pair. Her overhead expenses are $5.00 per pair and she makes 40.00% operating profit on selling price., Round to the nearest cent a. What is her amount of markup per pair of earrings? b. How much does it cost her to purchase each pair of earrings? Company A and Company B sell the same model camera for $110 and $135, respectively. During a sale, Company A offers a discount of 10% on the camera. What should Company B's rate of markdown be on the camera to match Company A's sale price?
- Do not provide solution in image format. and give the explanation.Klee Motors is a small car dealership. On average, it sells a car for $24 000, which it purchases from the manufacturer for $20 000. Each month, Klee Motors pays $60 000in rent and utilities and $60 000 in salespeople’s salaries. In addition to their salaries, sales people are paid a commission of $500 for each car they sell. Klee Motors also spends $15 000 each month on local advertisements. a. How many cars must Klee Motors sell each month to break even? b. Will Klee Motors earns a profit if it can sell 6 cars? c. How much sales revenue shall the company earn to achieve a $100,000 profit?Rodney runs Handheld Hardware Inc. in Mississauga, Ontario. He purchases 490 phones from a distributor with trade discounts of 14% and 7% on the list price of $50 per phone. He sold 288 phones at the regular selling price of $82 each and offered a markdown of 20% on the next 59 phones. To ensure that he completes the stock, he sold the rest at break-even. The store's overhead expenses are 9% on cost. a. Calculate his total profit or loss made from the sale of the phones. Round to the nearest cent b. What is the rate of markdown from the original selling price for the remaining phones that are being sold at break even? % Round to two decimal places