Darwin Inc. sells a particular textbook for $29. Variable expenses are $21 per book. At the current volume of 44,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total:
a) $352,000
b) $1,276,000
c) $1,628,000
d) $924,000

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

Stella company sells only two products, product a and product b. product a product b total selling price $50 $30 variable cost per unit $20 $10 total fixed costs $2,110,000 stella sells two units of product a for each unit it sells of product b. stella faces a tax rate of 40%. stella desires a net afterminustax income of $54,000. the breakeven point in units would be

Because the demand for wheat tends to be inelastic. true or false