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2 years ago

The contribution income statement would require a firm to ___________.

Business

1 answer:

Lelu [443]2 years ago

3 0

Answer: A. Separate costs into fixed and variable categories.

Explanation: The contribution income statement separates variable and fixed costs in an effect to show the amount of revenues left over after variable costs are paid, that is, it lists variable costs (costs that do not remain consistent) and fixed costs (costs that are constant whatever the amount of goods produced) in order to calculate the contribution margin of the company. It is also known as the contribution margin income statement. As opposed to the traditional income statement which separates product costs from period costs, it separates variable costs from fixed costs and is applied to determining net profit or loss for the period.

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When Mayo Clinic conducted its analysis during the 1980s, what two segments of the general environment did it initially focus on

Georgia [21]

Answer: a. Demographic and Economic .

Explanation:

In Mayor's clinic analysis of the future, it was stated that both the economic and demographic trends looked bleak.

6 0

2 years ago

Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just compl

xz_007 [3.2K]

Answer:

Direct Labor 574,000 Manufacturing Overhead 163,000 Wages Payable 737,000

Explanation:

The journal entry is shown below:

Work in process A/c Dr $574,000

Manufacturing overhead A/c Dr $163,000

To Wages payable A/c $737,000

(Being direct and the indirect cost is recorded)

For recording this given transaction, we debited the work in process account and manufacturing overhead account and credited the wages payable with the total amount

8 0

2 years ago

A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15,

beks73 [17]

Answer:

maximum profit ($30 in total) is obtained by selling 5 units

Explanation:

if the market maker buys and sells one unit, his/her profit = $15 - $5 = $10
if the market maker buys and sells two units, his/her profit = $10 + ($14 - $6) = $18
if the market maker buys and sells three units, his/her profit = $18 + ($13 - $7) = $24
if the market maker buys and sells four units, his/her profit = $24 + ($12 - $8) = $28
if the market maker buys and sells five unit, his/her profit = $28 + ($11 - $9) = $30

the maximum profit per unit is obtained by selling only 1 unit, but the total maximum profit is obtained by selling 5 units.

3 0

2 years ago

Elaine Sweeney went to Ragged Mountain Ski Resort in New Hampshire with a friend. Elaine went snow tubing down a run designed ex

ludmilkaskok [199]

Explanation:

1. Ragged mountains assertion of defense is 'assumption of risk'. In this scenario, Elaine Sweeney exposed herself to risk while snow tubing at the absence of an instructor. snow tube run is solely for snow tubers. ragged mountain can use this defense

2. new hampshire has prohibited people from suing for injuries received due to skiing risks. in a case of this sort, ms Elaine would be assumed to know all possible risks involved. the defendant will be favored since it has been advised that people should not go into sports of these sorts witout good training and an instructor.

3. no Elaine's lawsuit will not be successful if the conclusion of the court is that the statue applies to skiing and not to snow tubing. one should be cautious during snow tubing. she went snow tubing without proper care. it is likely that she may not win the case.

4. the theory is contributory negligence theory. her damages is going to be reduced in proportion with the actions that has brought about her accident. for this reason she is partly responsible.

5 0

2 years ago

Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September

Pie

Answer:

Shellhammer Company

Ending inventory = $712

Cost of goods sold = $2,492

Explanation:

a) Data and Calculations:

Date Item Units Unit Cost Total Cost

September 1 Inventory 100 $3.34 $334.00

September 8 Purchases 450 3.50 1,575.00

September 18 Purchases 350 3.70 1,295.00

September 30 Total 900 $3,204.00

Ending inventory 200

Cost of goods sold 700

Weighted Average cost = Total cost of goods available for sale/Total units available for sale

= $3,204/900 = $3.56

Value of Ending Inventory = $3.56 * 200 = $712

Value of Cost of goods sold = $3.56 * 700 = $2,492

b) The weighted average inventory costing, under the period inventory system, used by Shellhammer is an assumption that the costs attributable to ending inventory and cost of goods sold are determined from the average cost per unit and that these the average cost is ascertained at the end of the period. Therefore, the cost of beginning inventory and purchases are accumulated and divided by the units of goods available for sale.

4 0

2 years ago