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Business 125 already graded A+ 2024/2025 $9.99   Add to cart
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Business 125 already graded A+ 2024/2025
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  • CMIS 526
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  • CMIS 526

Business 125 already graded A+ 2024/2025

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Document information

  • March 1, 2024
  • 14
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • cmis 526
  • markup selling price cost selling price cos
  • pay schedule piece rate pay rate is based on a sc
  • brainpower read more previous play next rewind 10

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  • CMIS 526
  • CMIS 526

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Ashley96

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Business 125

Markup
selling price - cost

(selling price - cost) / cost x100%

If your product cost $50

Selling price $75

The Markup percentage is 50%

($75-$50) / $50 = .50 x100 = 50%




pay schedule -piece rate
Pay rate is based on a schedule of units completed.

Abby produced 300 dolls
Units Produced Amount per unit
First 50-> 1-50 $.50
Next 100-> 50-150 $.62
Next 50-> 151-200 $.75
Over 200 $1.25
(50.50)+(100.62)+(50.75)+(1001.25)
$25.00 + $62.00 + $37.50 + $125.00 = 249.50




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, 0:15
Full screen
Which of the following transactions would cause the company's checkbook balance to be higher
than the bank balance?
Deposit in transit -

is known by the customer and not the bank. This would cause the company's checkbook
balance to be higher than the bank balance.




Simple interest concepts apply when you are paying ? or ? interest.
interest
receiving interest


Formula for finding Principal

Principal = Interest
Rate*Time


The U.S. Rule states that when a partial payment is made, first the ?, is covered, then the
balance goes to reduce the loan ?

Interest
Principal


When a business marks up their goods based on selling price, the base is:
selling price

*Markup based on selling price means that the selling price is the 100%.




The profit remaining after subtracting the cost of bringing the goods into the store and the
operating expenses from the sale of the goods is the:
net profit or net income


Selling price - Variable costs =
contribution margin (CM)= $2.00(S) - $.80(VC)
CM = $1.20

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