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JJ Motors Inc. employs 39 sales personnel to market its line of luxury automobiles. The average car sells for $17,000, and a 7 percent commission is paid to the salesperson. JJ Motors is considering a change to the commission arrangement where the company would pay each salesperson a salary of $1,400 per month plus a commission of 4 percent of the sales made by that salesperson. The amount of total monthly car sales at which JJ Motors would be indifferent as to which plan to select is:
a. $1,820,000.
b. $780,000.
c. $46,667.
d. $20,000.
e. $54,600.
The manufacturing overhead budget at Cardera Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 8,700 direct labor-hours will be required in January. The variable overhead rate is $9.30 per direct labor-hour. ..
Assume that the quantity demanded at the price calculated in part a is only 600 units. Illustrate what are the full costs of the globe, and what is the price with a 25 percent markup?
Analyzing the weaknesses and financial strengths of the company
When we already have the income statement and balance sheet to tell us about the financial performance and financial health of a company, why was there a need to require companies to prepare a statement of cash flows?
hank was transferred from phoenix to north dakota on march 1 of the current year. he immediately put his home in
The total cost transferred from the first processing department to the next processing department during the month is closest and
On the first day of the fiscal year, Jill Company issues $3,639,000, 11%, 10-year bonds for cash of $4,673,393 when the market rate of interest was 7%. The bonds pay interest semi-annually on June 30 and December 31. Determine (1) the premium on bond..
McIntyre Manufacturing produces a single product. Last year, the company produced 20,000 units, out of which 18,000 were sold. There were no units in beginning inventory. Calculate McIntyre's product cost per unit, assuming that the company uses vari..
Purpose the journal entry at May 31, 2008, to record the sale of the bonds. and the journal entry at September 30, 2008, to record the semiannual bond interest payment.
Explain how has the Sarbanes-Oxley Bill influenced reporting by governmental agencies and not-for-profit organizations? Does the Public Company Accounting Oversight Board have authority to establish auditing standards for not-for-profits?
a. Calculate the present value of the corporate bonds if rates increase by 2 percentage points. b. Calculate the gain or loss on the corporate bond position.
Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charge on sales for using its card. On June 28, Jervis had $3,500 in NB Card credit sales. What entry should Jervis make on June 28 to recor..
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