Solve the Problem, Rounding Final Decimals and Percents to Tenths

question 25

Short Answer

Solve the problem, rounding final decimals and percents to tenths if necessary. A number decreased by 25% is 547.50.

Identify which expenses are considered direct or indirect in the context of departmental accounting.

Comprehend the impact of expense allocation on net income calculation for a department.

Understand the role of gross sales in the allocation of indirect expenses.

Distinguish between the allocation bases for different types of indirect expenses.

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Definitions:

Mailbox Rule

A legal doctrine asserting that acceptance of an offer becomes effective, and thus establishes a contract, when the acceptor places the communication of acceptance in the postal system.

Acceptance

In contract law, the unqualified consent to the terms of an offer, thereby creating a binding contract.

Rejection

Termination of a contract that occurs when an offeree does not accept the offer or terms of the contract.

Incapacitated

In a state where an individual is unable to take legal actions or make their own decisions due to physical or mental limitations.