10 Points Question 3 Hollis Industries produces flash drives for computers, which it sells for $20...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
10 Points Question 3 Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $13 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio? 25% B 65% 35% D) 75% 10 Points Question 3 Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $13 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio? 25% B 65% 35% D) 75%
Expert Answer:
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
Students also viewed these accounting questions
-
Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $12 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March...
-
Is the contribution margin ratio of a software firm such as Microsoft likely to be higher or lower than the contribution margin ratio of an auto maker such as Ford? What does this imply about the...
-
Is the contribution margin ratio of a grocery store likely to be higher or lower than that of a plastics manufacturer? Explain the difference in cost structure between a grocery store and a plastics...
-
Modify BST to add a method rangeSearch () that takes two keys as arguments and returns an iterable over all keys that are between the two given keys. The running time should be proportional to the...
-
Use Figure to analyze the effect of the following on the level of real interest rates: a. Businesses become more optimistic about future demand for their products and decide to increase their capital...
-
Within the context of the circular flow of income model, what is the role of financial intermediaries?
-
Would the combination of a high current ratio and a low inventory turnover ratio suggest a firm is maintaining too high an inventory level? Why or why not?
-
Remo Company and Angelo Inc. are separate companies that operate in the same industry. Following are variable costing income statements for the two companies showing their different cost structures:...
-
Image transcription text Course Project Overview Guidelines 1. Legibly write on each piece of paper V Your first and last names V The course and section number The assignment title The page number 2....
-
ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. Legend No Purchases or Sales Purchases...
-
The monthly demand of a company is showed below, please use the static method to forecast the demand for Year 6. Sales Year 1 Year 2 Year 3 Year 4 Year 5 JAN 2,000 3,000 2,000 5,000 5,000 FEB 3,000...
-
My event: BORNPINK (BlackPink Concert) Discussion questions: 1. Why is working with an influencer an important tactic when promoting an event? 2. Why is it important to form a relationship with...
-
For the following substances, give the electron pair geometry, molecular geometry, and hybridization of the central atom(s). Put your answer in the following format; electron pair geometry, molecular...
-
Is there a company you know that became successful? Tell its story in brief. 2. Is leadership a vital factor in creating a blue strategy? Defend your answer. 3. How did Starbucks make use of the blue...
-
Social media platforms are less likely to show posts from companies than posts from friends. To overcome this disadvantage a company must _____?
-
Hubspot IS THE RESOURCE . Identify specific details (for example, image choice, content, tone, or audience) to show why you didn't choose this one for yourself. What decisions did the marketer make...
-
7. 36 000 kg/h of steam is supplied to a turbine at 2000 kPa and 250C. The turbine exhausts at 20 kPa and 0.86 dry. Actual turbine efficiency is assumed to be 78%. Calculate the isentropic,...
-
Figure displays a 12.0 V battery 3 four uncharged capacitors of capacitances C1 = 4.00F, C2 = 6.00F, and C3 = 3.00F. The switch is thrown to the left side until capacitor 1 is fully charged. Then the...
-
On January 1, 2011, Medical Transport Company's accumulated postretirement benefit obligation was $25 million. At the end of 2011, retiree benefits paid were $3 million. Service cost for 2011 is $7...
-
Disclosure notes are an integral part of the information provided in financial statements. In what ways are the notes critical to understanding the financial statements and to evaluating the firm's...
-
Hanmi Financial Corporationis the parent company of Hanmi Bank. The company's stock split was announced in the following Business Wire: LOS ANGELES (BUSINESS WIRE) Jan. 20Hanmi Financial Corporation...
-
On February 26, 2014, William Stem purchased a used BMW from Gary Braden for \($26,600.\) Stems primary purpose for buying the car was to use it to drive his child to school and various activities....
-
Associated Builders, Inc., provided labor and materials to William M. Coggins and Benjamin W. Coggins, doing business as Ben & Bills Chocolate Emporium, to complete a structure on Main Street in Bar...
-
Brown contracted to buy sixty cases of Lovely Brand canned corn from Smith, a Toledo seller, at a contract price of \($1,260.\) Based on the contract, Smith selected and set aside sixty cases of...
Study smarter with the SolutionInn App