Answer:
Net Income 186,900
Explanation:
sales 730,000
variable cost
40% of sales
40% of 730,000 = (292,000)
Selling expense (81,000)
Administrative expense (90,000)
Earnigns before taxes 267,000
income tax expense
30% of EBT
30% of 267,000 = (80,100)
Net Income 186,900
Answer:
There are several ways in which a young entrepreneur can carry out purchasing activities responsibly, including:
1. Measured production of inventory or units of products- If an entrepreneur is producing bicycles for instance, (s)he should only spend on inventory that (s)he anticipates will be sold to customers or purchased by retailers. For example, let's assume that the entrepreneur has a purchase order from a retailer such as K-Mart for 500 bicycles. In this case the entrepreneur should only produce around 550 bicycles rather than 700 or 1000 bikes, thus, purchasing supplies and producing inventory in accordance with demand for his/ her bicycles.
2. Lowering costs of production where possible- Firstly, this can be done by purchasing supplies and materials for inventory in bulk. Secondly, the entrepreneur could outsource the manufacturing of his/her product to countries (such as China) where production costs are significantly cheaper.
Answer:
D- All of the above
Explanation:
Edg. 2021, took the test and got 100 percent
Answer: $27,000
Explanation:
Even though for GAAP reasons, revenue is to be recognized only when earned as per the Accrual principle of accounting, this is not so for the calculation of taxable income.
Taxable income is to be calculated on cash basis which means that taxes are to be paid on revenue when the revenue is received in cash and not when it is earned.
As Ral Corp. received the money in 2020, they are to include the entire amount of $27,000 in their 2020 taxable income for rent revenue.
Answer:
213 Unfavorable
Explanation:
Given that,
Direct labor-hours used to produce this output = 2,130
Actual variable overhead rate = $6.10 per hour
Variable overhead per hour = $6.00
The variable overhead rate variance for July:
= Direct labor-hours used to produce this output × (Actual variable overhead rate per hour - Variable overhead per hour)
= 2,130 × ($6.1 - $6)
= 213 Unfavorable
