Chapter 3, Problem 36P

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Fractional Dates Excel can also accept fractional dates. In cells A9:A11 you will see numbers that have a decimal component. The decimal represents part of a day. For example, a number ending in 0.5 will be halfway through the day or 12:00 PM / noon. Repeat the same process as above to populate cells B9: B11 with the same numbers as A9:A11. Formatting B9:B11 will be a little different. To get Excel to show the partial date in cells B9:B11 highlight those cells, navigate to the Home tab, locate number formatting, and then use the down arrow to select More Number Formats. This opens a dialog box where you can apply custom formats. Under Date, find a format that also shows the time, e.g., if A9 contains 40368.25: Number Format Category: General Number Currency Accounting Date Sample 7/9/10 6:00 AM Type: March 14, 2012 3/14/12 1:30 PM 3/14/12 13:30 Time M Percentage Fraction Scientific M-12 3/14/2012 14-Mar-2012 Text Special Custom Locale (location): English (United States) Date formats…

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Wilson Athletics plans to sell 4,800 tennis rackets at $95 each in the coming year. The unit variable cost is $57.50 (includes direct materials, direct labor, variable factory overhead, and variable selling expense). Fixed factory overhead is $28,500, and fixed selling and administrative expenses are $39,200. 1. Calculate the variable cost ratio. 2. Calculate the contribution margin ratio.

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Continental Industries reported net sales of $5.80 million and beginning total assets of $2.20 million and ending total assets of $2.60 million. The average total asset amount is: a. $2.40 million b. $3.10 million c. $0.38 million    d. $0.45 million e. $1.38 million HELP