Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Russell Preston delivers parts for several local auto parts stores. He charges clients 0.78 per mile driven. Russell has determined that if he drives 1,700 miles in a month, his average operating cost is $0.59 per mile. If he drives 4,500 miles in a month, his average operating cost is $0.40 per mile. Russell has used the high-low method to determine that his monthly cost equation is: total cost = $535.00 + $0.28 per mile.
1) Determine how many miles Russell needs to drive to break even.
Break-Even Miles: _________
2) Assume Russell drove 1,370 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month.
Loss or Profit?
3) Determine how many miles Russell must drive to earn $1,075.00 in profit.
Target Miles: __________
4) Prepare a contribution margin income statement assuming Russell drove 1,370 miles last month.(Enter your answers rounded to 2 decimal places.)
Explain whether the ratios are leverage or profitability ratios. If a leverage ratio, is it coverage or capital structure? What is the difference between the two? If a profitability ratio, discuss why it is not completely satisfactory for measurin..
how does lifo affect income if prices increase decrease or remain the same?and how does fifo do the same? and how do
Use the following information and the percent-of-sales method to answer questions. For consistency with the Answer selections provided, please round your forecast percentages to two decimals.)
background informationeileen timmons was a registered nurse living in salmon river newfoundland. a single parent with
Difference between accounts payable and accruals (liabilities)
Many companies, as it is commonly known, achieve their growth through business combinations, which can be friendly combinations or hostile takeovers. Give your opinion on which type of combination is likely to occur in a company.
willow corporation exchanged land valued at 250000 adjusted basis 175000 for a building owned by tree corporation
What is the total stockholders' equity based on the following account balances? Common Stock
1. avon co. a wholly owned subsidiary of wilson corp. sold goods to wilson near the end of 2013. the goods had cost
Under the allowance method, the entry to write off a $2,600 uncollectible account includes a(n) :
Which is generally considered to be the primary purpose of an internal auditor's evaluation of the adequacy of internal controls.
Pam owns a sole proprietorship and Kevin is the sole shareholder of a C (regular) corporation. Each business sustained a $16,000 operating loss and a $2,500 capital loss for the year. Evaluate how these losses will affect the taxable income of the..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd