Photo Finish, Incorporated produces and sells picture frames. Variable costs are expected to be $15 per frame; fixed costs for the year are expected to total $170,000. The budgeted selling price is $23 per frame. The sales dollars required by Photo Finish to make an after-tax profit ( π/N of $21,000, given an income tax rate, t, of 20 percent, would be: (Round units up to nearest whole number.)
Answers
To calculate the sales dollars required by Photo Finish to make an after-tax profit of $21,000, we need to consider the variable costs, fixed costs, selling price, and the income tax rate.
First, we need to determine the contribution margin per frame, which is the selling price minus the variable cost per frame. In this case, the contribution margin is $23 - $15 = $8 per frame.
Next, we calculate the number of frames Photo Finish needs to sell to cover the fixed costs and generate the desired profit. The formula is as follows:
Number of frames = (Fixed costs + Desired profit) / Contribution margin
Plugging in the given values, we have:
Number of frames = ($170,000 + $21,000) / $8 = $191,000 / $8 ≈ 23,875 frames
To find the sales dollars required, we multiply the number of frames by the selling price per frame:
Sales dollars = Number of frames × Selling price = 23,875 × $23 ≈ $549,625
Therefore, Photo Finish needs to generate approximately $549,625 in sales dollars to achieve an after-tax profit of $21,000, considering the given income tax rate of 20 percent.
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Related Questions
How is compound interest different from simple interest?
a
Compound interest is when interest is paid on the principal amount only. Simple interest is when interest is paid on the principal amount and on the interest already earned.
b
The money earned from simple interest can only be accessed after 1 year, while you can access the money earned from compound interest at any time.
c
The money earned from compound interest is placed into a separate account, while the money earned from simple interest stays within the same account.
d
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Answers
Answer:
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Explanation:
Compounding interest refers to adding the interest earned to the principal amount at the end of a financial period. The interest gained becomes part of the principal amount for the following financial period. It means the principal amount increases every year, which results in increased interest earnings.
Simple interest is the interest earned from the principal amount only. If no more deposits are made, then the principal amount will remain the same, and the interest earned will be constant.
What is profit in an economic system?
A. Profit is the investment a producer makes in the economy to achieve financial gain.
B. Profit is the net change in the value of the economy due to an exchange.
C. Profit is the financial gain resulting from an exchange.
D. Profit is the investment a consumer makes in the economy to achieve financial gain.
Answers
Answer:
I think D is correct answer
The profit in the economic system is the investment made by the consumer for accomplishing the financial gain.
The information related to the profit is as follows:
It is the surplus that comes after deducting the cost from the revenue made. It is the investment that should be made by the consumer for attaining financial gain.Therefore all the other options are incorrect.
Thus we can conclude that profit in the economic system is the investment made by the consumer for accomplishing the financial gain.
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How is a decision-making grid an example of cost-benefit analysis?
Answers
Answer:
A decision-making grid is an example of cost-benefit analysis because it helps to weigh the costs and benefits of a particular decision. The grid outlines the various options available and provides a visual representation of the pros and cons of each option. The cost-benefit analysis helps to determine which option is the most beneficial and cost-effective.
Explanation:
What is one advantage of taking a course online instead of onsite?
A.
It is easier to access the printed course materials.
B.
You can usually do the coursework when it’s convenient.
C.
The quality of teaching is typically a little better.
D.
You can communicate with your teacher more effectively.
Answers
B. The coursework can usually be completed at a time that works for convenient - is one of the benefits of taking a course online rather than in person.
What are the benefits of taking courses online?There are advantages and disadvantages to learning online and in a virtual classroom, just as there are to learning in person on a physical campus. You'll find that one of the many advantages of online education is that it gives you more flexibility in your schedule, can lower the cost of your degree, and can make it easier to advance your career while you study.
Online education has many advantages, but there are also disadvantages to consider. In its own way, staying focused and being self-motivated can be difficult; which is one reason why not everyone is a good candidate for online education. You can get a better idea of whether online learning might be right for you and your career and education goals by learning more about its benefits and drawbacks.
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Which type of bond is not secured by any type of asset, but backed only by the borrower’s promise to pay?.
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The number of seats a table can have is usually expressed as the number and the word "top". You can have 17, 4-top tables, 28, 2-top tables, 15, 6-top tables and 5, 10-top tables. How many can your restaurant seat?
A) 244 seats
B) 264 seats
C) 288 seats
D) None of the above
Answers
Answer:
B) 264 seats
Explanation:
'Top' is the number of seats per table.
17 tables with 4 seats will have
17 x 4 = 68 people
28 2-top tables
28 x 2 =56 seats
15, 6-top tables
15 x 6 =90 seats
5, 10-top tables.
5x10 = 50 seats
Total number of people who can seat
= 68 + 56 +90 +50
=264 seats
Most real estate agencies are created by what?
Answers
Explanation: An agency is created by express appointment when the principal appoints the agent by express agreement with the agent. This express agreement may be an oral or written agreement between the principal and the agent.
which economic advantage does eastern europe enjoy because of its location next to russia?
Answers
explain what will happen if the government establishes a price ceiling of $10 per bushel of wheat in this market? what if the price ceiling was set at $30?
Answers
When the government establishes a price ceiling, it is setting a maximum price that can be charged for a good or service. In this case, the government is setting a price ceiling of $10 per bushel of wheat. This means that sellers cannot charge more than $10 for a bushel of wheat.
If the equilibrium price of wheat is above $10, then the price ceiling will result in a shortage of wheat. This is because the demand for wheat will be higher than the supply of wheat at the $10 price. As a result, there will be a shortage of wheat in the market.
If the price ceiling was set at $30, it would have no effect on the market. This is because the equilibrium price of wheat is likely below $30, so the price ceiling would not be binding. In other words, the market would operate as if there were no price ceiling at all.
In conclusion, when the government establishes a price ceiling, it can result in a shortage of the good or service if the price ceiling is set below the equilibrium price. However, if the price ceiling is set above the equilibrium price, it will have no effect on the market.
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easy career question
Answers
Answer:
c
Explanation:
Answer:
C. Stock Options already bought and sold
Explanation:
How does change in cost of energy and raw materials, borrowing and premises affect a house building company
Answers
Answer:
A shift in the cost of electricity and raw materials may have a major influence on a home construction firm. For example, if the cost of electricity and raw materials rises, the corporation may have to spend more on these items, resulting in higher production expenses. This rise in manufacturing costs may eventually result in lower profit margins or an increase in the final price of the houses, making them less competitive in the market.
Likewise, changes in borrowing costs might have an influence on the company's profitability. If interest rates rise, the cost of borrowing money to invest in the firm rises, resulting in greater debt-service expenses. This may limit the company's capacity to invest in growth possibilities, which can be negative on long term profitability impact.
Likewise, changes in borrowing costs might have an influence on the company's profitability. If interest rates rise, the cost of borrowing money to invest in the firm rises, resulting in greater debt-service expenses. This may limit the company's capacity to invest in growth possibilities, which might harm long-term profitability.
Changes in facility expenses might also have an impact on the company's profitability. For example, increasing the cost of rent or mortgage payments for the company's offices or facilities may result in increased overheads and lower profitability. Furthermore, if the firm decides to grow or relocate, it may incur considerable upfront expenses, which may have an impact on short-term profitability.
What is the funds left in the business after paying off all its obligations known as?
The funds left in the business after paying off all its obligations is known as
. The accounting principle of
guides it.
Answers
The funds left in the business after paying off all its obligations is known as retained earnings. The accounting principle of the balance sheet guides it
What is balance sheet?A balance sheet is a financial statement that reports a company's assets, liabilities, and equity at a specific point in time. It provides a snapshot of a company's financial position and is used to assess a company's liquidity, solvency, and overall financial health. The balance sheet is one of the three primary financial statements, along with the income statement and cash flow statement. It is also known as the statement of financial position.
Therefore, the correct answer is as given above
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Why is it important to keep your own financial records?
Answers
Answer:
You need good records to prepare accurate financial statements. These include income (profit and loss) statements and balance sheets. These statements can help you in dealing with your bank or creditors and help you manage your business
Explanation:
How much is an annual interest percentage rate if he unpay balance is less than $500?
Answers
The annual interest percentage rate (APR) for an unpaid balance under $500 would depend on the terms and conditions set by the lending institution or credit card issuer.
To answer your question, we need more information about the specific interest rate policy or the financial institution involved. The annual interest percentage rate (APR) for an unpaid balance under $500 would depend on various factors, such as the type of credit account, the creditworthiness of the borrower, and the lender's policies.
For example, credit cards may have different APRs for unpaid balances, and they may also have promotional offers or introductory rates that can affect the interest charged. Some lenders may also offer lower interest rates to borrowers with good credit scores or other qualifications. Therefore, without more information about the specific loan or credit account, it is difficult to provide an accurate answer to this question.
The answer is general as the question is incomplete. Next, please provide more details or context to help me provide you with an accurate answer.
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Match each concept in Column A with an example in Column B. Column A Column B a. Substitute goods 1. Price and quantity along the supply curve b. A nonprice determinant of demand 2. Tea and coffee c. A nonprice determinant of supply 3. A change in technology d. Mark-up pricing 4. Hunger e. Positive relationship 5. Shoes and shoelaces f. Negative relationship 6. Consumer income g. Inadequacy 7. Price and quantity along the demand curve 24 h. Complementary goods 8. Setting price equal to cost plus 20 percent
Answers
Answer:
a. Substitute goods - Tea and coffee
b. A nonprice determinant of demand - Consumer income
C. A nonprice determinant of supply - A change in technology
D. Mark-up pricing - Setting price equal to cost plus 20 percent
E. Positive relationship - Price and quantity along the supply curve
F. Negative relationship - Price and quantity along the demand curve
G. Inadequacy - Hunger
H Complementary goods - Shoes and shoelaces
Explanation:
Substitute goods are goods that can be used in place of another good.
if the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.
Complementary goods are goods that are consumed together
The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.
Only a change in the price of a good leads to a movement along the demand curve of that good. Also, only a change in the price of the good would lead to an increase or decrease in the quantity demanded of that good.
Other factors other than the change in the price of the good would lead to a shift of the demand curve. Some of those factors include :
1. a change in consumers' expectation
2. a change in the taste of consumers
3. a change in income
There is a positive relationship between price and the quantity supplied. This accounts for why the supply curve is positively sloped.
A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.
Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :
1. A change in the price of input
2. A change in the number of suppliers
3. Government regulations
4. Technological changes
Pls help will mark brainleist
Answers
Answer:
D Values
Explanation:
Controlling can best be defined as: Select one: a. The sharing of information between two or more individuals or groups to reach a common understanding b. Evaluating how well an organizational is achieving goals and taking action to maintain and improve performance c. Curtailing the performance of dysfunctional behaviors by eliminating whatever is reinforcing them d. Ensuring that in all levels in the organization there are well-qualified workers who can assume more responsible positions as needed.
Answers
b. Evaluating how well an organizational is achieving goals and taking action to maintain and improve performance . Controlling can best be defined Controlling: Assessing how effectively .
an organization achieves its goals and taking action to maintain or enhance performance; one of management's four primary duties. The precise collection of departmental skills, knowledge, and experience that enables one company to surpass another. Creating SMART objectives aids in analyzing what has been accomplished in terms of target progress. The easier it is to analyze what was achieved, the more concrete, quantifiable, realistic, relevant, and time-bound the goal. It's also vital to consider how goals were met. organization achieves its goals and taking action to maintain or enhance performance.
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Describe some of the characteristics of federal student loans.
Answers
Answer:
Interest rates on federal loans are fixed. The interest rates on private student loans can be variable or fixed and are usually higher.
Undergraduate borrowers who can demonstrate financial need could receive a federal subsidized loan, meaning the government pays the interest until you graduate.
Federal loans offer flexible repayment options and loan forgiveness programs. Private loans have few repayment options and no loan forgiveness programs.
Federal loans don’t have to be repaid until you graduate or drop below half-time status as a student.
Explanation:
Hope this helps you if it does please mark brainiest
Thirty-five members of the Ortiz extended family were spread across three states—Illinois, New York and Florida—and they rarely were able to get everyone together. For Thanksgiving 2018, Mary Elizabeth Ortiz decided to surprise her family by booking a mountain retreat for the entire clan. She especially wanted to celebrate her uncle's return from overseas military service. On September 15, 2018, Mary rented a spectacular lodge in the Tennessee Smoky Mountains with over 20 bedrooms and an incredible view, paying in advance the full $2,500 per night fee for 3 evenings, but not purchasing travel insurance. The lodge had the following cancellation policy: "A sixty (60) day notice is required for cancellation. Cancellations that are made within 60 days of the arrival date, for any reason, forfeit the full advance payment and reservation deposit. You are advised to purchase travel insurance separately if cancellation costs are a concern." The rental contract also stated that the only exception would be for "acts of God, such as fires or earthquakes." One week before Thanksgiving, Mary's uncle had a heart attack and was hospitalized. The next day, November 16, 2018, Mary cancelled the reservation, and requested a full refund, which the lodge refused to provide. Does Mary have a claim for the return of her $7,500?
Answers
The ability to read, understand, and analyze accounting reports and financial statements is critical in understanding ______.
Answers
Answer:
business operations
Explanation:
a company's advertisements in the local newspaper include a coupon designed to encourage customers to try the company's new product. this is an example of advertising based on .
Answers
This is an example of advertising based on (A) objectives.
What are objectives?The three main goals of advertising are to inform, convince, and remind. Informative advertising raises consumer knowledge of companies, their goods and services, and concepts. It can inform customers about the features and advantages of new or old items, as well as announce new programs and products.Business objectives are the precise, quantifiable outcomes that organizations seek to retain as they expand. Business objectives are created with an emphasis on specifics. Analyzing, evaluating, and comprehending where you are now and where you want to be in the future are required.Therefore, a company's advertisements in the local newspaper include a coupon designed to encourage customers to try the company's new product. This is an example of advertising based on (A) objectives.
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Complete question:
A company's advertisements in the local newspaper include a coupon designed to encourage customers to try the company's new product. This is an example of advertising based on
a. Objectives
b. Employees
c. Budgets
d. Bloggers
Need Help ASAP
How do you demonstrate independence and initiative in your daily life? Discuss examples. Write 4 sentences. First, define the terms: independence & initiative. Then give me examples of each.
Will give brainly.
Answers
Answer:
I. Never stand still
2. Do more than is Required of you
3. Think as a team Member, Not an Employee
4 Speak up and share your ideas
5 Fake it till you make it
6. Consider every opportunity
7. Always be prepared
8. Be Self-Pronotional
Explanation:
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Which of the following is an example of typosquatting? Group of answer choices A start-up investment company assumes the online identity of Arman & Company, a well-established investment company, in social networking platforms for the purposes of acquiring its brand equity. An environmental support group creates a spoof of the advertisement of a popular beverage company, highlighting its degradation of the environment by releasing waste products into the water bodies near its bottling plant. A person registers a domain name, Tucson Multispecialty Clinic, which is the name of a popular multispecialty clinic hoping to resell it to the clinic at an exorbitant profit. A person registers the domain name "currentaffairs.net" to take advantage of the huge popularity of the e-newspaper currentaffairs.org to divert traffic to his webpage and make money by selling advertising space.
Answers
Answer:
An environmental support group creates a spoof of the advertisement of a popular beverage company, highlighting its degradation of the environment by releasing waste products into the water bodies near its bottling plant.
Explanation:
An example of typosquatting is an environmental support group creates a spoof of the advertisement of a popular beverage company, highlighting its degradation of the environment by releasing waste products into the water bodies near its bottling plant.
on march 1, jones repair services received cash of $1,200 for service revenue earned. the journal entry to record this transaction would be:
Answers
Cash $1200 is credited against the $1200 service revenue debit. This journal entry reflects the rise in service revenue and cash as a consequence of Jones Repair Services being paid for the services they provided.
The following would be the journal entry to reflect the cash payment received by Jones Repair Services on March 1 for service revenue: Debit: $1,200 in cash
Credit: $1,200 in service revenue
This journal entry reflects the growth in the company's cash assets as well as the acknowledgment of service revenue. While the credit to service revenue indicates the acknowledgment of money generated, the debit to cash shows the company's rise in cash holdings. This transaction should be recorded since it demonstrates the cash inflow and the recognition of generated revenue, both of which are crucial for financial reporting and analysis.
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Any description of the goods which is made part of the basis of the bargain creates an express warranty that the goods shall conform to the description.
True
False
Answers
True. A description there is an express warranty that goods will match the description that is made a part of a basis of the bargain.
What is bargain?Bargain is an agreement between two or more parties, who exchange goods, services, or both, for mutual benefit. It typically involves one party offering something of value to another party in exchange for something of greater value, such as a discount on a purchase or a free service. Bargaining is a common practice in most markets and can be a great way to get a good deal. Bargaining requires both parties to be willing to negotiate and compromise in order to reach an agreement that both parties find acceptable. Bargaining also involves an understanding of the other party's needs and interests, as well as a willingness to compromise and find a solution that both sides can agree on.
This means that the buyer has a legal right to expect that the goods they receive will meet the quality standards that were agreed upon in the sale contracts. If the goods fail to meet these standards then the seller may be liable for any damages resulting from the breach of warranty.
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B) Answer the following questions.
1. Do you agree that business transaction is an economic transaction? Justify your answer
with TWO reasons.
Answers
Answer:
Yes, agree, business transactions are economic transactions. Two reasons why:
Profit motive: economic transactions have a profit motive: they are carried out and agreed upon between the two parties, because the parties feel that they will be better off after the transaction is completed. Business transactions are based on the profit motive.Things of value: goods and/or services, are exchanged between the parties. In business transactions, either a good (for example, an asset), or a service (for example, employees), is always exchanged.
who benefits form medicare taxes?
Answers
Answer: The Medicare tax rate is 1.45% of an employee's gross income. The Medicare tax, which is a charge on both employers and employees, is paid by both.
What is it called when you try to influence the making of public policy?.
Answers
Lobbying' (additionally 'foyer') is a shape of advocacy with the goal of influencing selections made by using the government via people or greater usually by using lobby organizations; it consists of all attempts to persuade legislators and officials, whether or not by means of different legislators, parts, or prepared groups.
Advocacy seeks to make sure that all of us in society are capable of: Having our voices heard on issues that might be important to us. protect and promote their rights. Have their views and desires in reality taken into consideration while choices are being made about their lives.
Advocacy is ready to run with humans to support them in strengthening their voice on the troubles that affect them, then elevating the focus of those problems to mobilize others to do so. Advocacy is crucial to steer policy development and to prove the strategy.
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One of the growers is excited by this advancement because now he can sell more crops, which he believes will increase revenue in this market. As an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market. Using the midpoint method, the price elasticity of demand for soybeans between the prices of $15 and $9 per bushel is , which means demand is between these two points. Therefore, you would tell the grower that his claim is , because total revenue will as a result of the technological advancement.
Answers
Answer:
0.67
inelastic
incorrect
Explanation:
Midpoint method is used by economists to identify the price elasticity. In this method the percentage change in quantity demanded is divided by percentage change in price. In the given scenario the price elasticity of bushel is 0.67 which determines that the change in quantity demanded will be due to change in price. The demand is inelastic therefore the claim of farmers is incorrect.
3. Question 3 Fill in the blank: Working for companies _____ means you'll work on a project-by-project basis, but not as a full-time employee.
Answers
Answer:
on a contract
Explanation:
An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.
Basically, an employee is saddled with the responsibility of providing specific services to the organization or company where he is currently employed while being paid a certain amount of money hourly, daily, weekly, or monthly depending on the contractual agreement between the two parties (employer and employee).
Any employee working for companies on a contract simply means or implies that, he or she work on a project-by-project basis rather than as a full-time employee.
For instance, a freelancer is someone who offers or provides his or her service to other employer of labor (business organization) without entering into a long-term contractual agreement.