Spencer kars provides shuttle service between four hotels near a medical center and an international airport. spencer kars uses two 10-passenger vans to offer 12 round trips per day. a recent month's activity in the form of a cost-volume-profit income statement is shown below. sales (1,500 passengers) $36,000 variable costs: fuel $5,040 tolls and parking 3,100 maintenance 860 9,000 contribution margin 27,000 fixed costs: salaries 15,700 depreciation 1,300 insurance 1,000 18,000 net income $9,000 a. calculate the break-even point in dollars $ and number of b. without calculations, determine the contribution margin at the break-even point $

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.