Todrick company is a merchandiser that reported the following information based on 1,000 units sold: sales $ 345,000 beginning merchandise inventory $ 23,000 purchases $ 230,000 ending merchandise inventory $ 11,500 fixed selling expense $ ? fixed administrative expense $ 13,800 variable selling expense $ 17,250 variable administrative expense $ ? contribution margin $ 69,000 net operating income $ 20,700 required: 1. prepare a contribution format income statement. 2. prepare a traditional format income statement. 3. calculate the selling price per unit. 4. calculate the variable cost per unit. 5. calculate the contribution margin per unit. 6. which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales?

Mr. smith recently faced a choice between being (a) an economics profes-sor, which pays $60,000/yr, or (b) a safari leader, which pays $50,000/yr. after careful deliberation, smith took the safari job, but it was a close call. "for a dollar more," he said, "i'd have gone the other way."now smith's brother-in-law approaches him with a business proposition. the terms are as follows: - smith must resign his safari job to work full-time in his brother-in-law's business.- smith must give his brother-in-law an interest-free loan of $100,000, which will be repaid in full if and when smith leaves the business. (smith currently has much more than $100,000 in the the business will pay smith a salary of $70,000/yr. he will receive no other payment from the business.the interest rate is 10 percent per year. apart from salary considerations, smith feels that working in the business would be just as enjoyable as being an economics professor. for simplicity, assume there is no uncertainty regarding either smith's salary in the proposed business or the security of his monetary investment in it. should smith join his brother-in-law and, if so, how small would smith's salary from the business have to be to make it not worthwhile for him to join? if not, how large would smith's salary from the business have to be to make it worthwhile for him to join?

In allentown, pennsylvania, in the summer of 2014, the average price of a gallon of gasoline was $3.68long dasha 22-cent increase from the year before. many consumers were upset by the increase. one was quoted in a local newspaper as saying, "it's crazy. the government should step in." source: sam kennedy, "valley feeling pain at the pump," (allentown, pa) morning call, june 21, 2014. suppose the government had stepped in and imposed a price ceiling equal to old price of $3.46 per gallon. a. using the line drawing tool, draw and label the price ceiling. carefully follow the instructions above, and only draw the required object.

Select all that apply. select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies