Answer:
tax expense: 34% 103,020 dollars
Explanation:
Sales 2,400,000
COGS 34% of sales<u> (816,000) </u>
Gross profit 1,584,000
other operating (1,200,000)
depreciation (80,500)
interest expense
450,000 x 9% (40,500)
gain on investment <u> 40,000 </u>
Income before taxes 303,000
tax expense: 34% 103,020
The dividends paid are not an expense or revenue for the period. is the distribution of prior period gains.
Answer:
Activity Rates
Consultation $150
Drawings $58
Modeling $0.7
supervision $190
Billings $1037.5
Collections $1642.5
Total overhead allocated: $ 126,826
Explanation:
First, we divide the cost of each activity over the base total to get the rate.
![\left[\begin{array}{ccccc}$Activity&Driver&cost&Total&Rate\\$Consultation&$contact hours&315000&2100&150\\$Drawings&$desing hours&104400&1800&58\\$Modeling&$square feet&32200&46000&0.7\\$supervision&$days&228000&1200&190\\$Billings&$jobs&8300&8&1037.5\\$Collections&$jobs&13140&8&1642.5\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccccc%7D%24Activity%26Driver%26cost%26Total%26Rate%5C%5C%24Consultation%26%24contact%20hours%26315000%262100%26150%5C%5C%24Drawings%26%24desing%20hours%26104400%261800%2658%5C%5C%24Modeling%26%24square%20feet%2632200%2646000%260.7%5C%5C%24supervision%26%24days%26228000%261200%26190%5C%5C%24Billings%26%24jobs%268300%268%261037.5%5C%5C%24Collections%26%24jobs%2613140%268%261642.5%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Now we apply this rate against the job activity measurement:
![\left[\begin{array}{ccccc}$Activity&Job&$Rate&$Allocated\\$Consultation&410&150&61500\\$Drawings&352&58&20416&\\$Modeling&7400&0.7&5180&\\$supervision&195&190&37050&\\$Billings&1&1037.5&1037.5&\\$Collections&1&1642.5&1642.5&\\$Total&&&126826&\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccccc%7D%24Activity%26Job%26%24Rate%26%24Allocated%5C%5C%24Consultation%26410%26150%2661500%5C%5C%24Drawings%26352%2658%2620416%26%5C%5C%24Modeling%267400%260.7%265180%26%5C%5C%24supervision%26195%26190%2637050%26%5C%5C%24Billings%261%261037.5%261037.5%26%5C%5C%24Collections%261%261642.5%261642.5%26%5C%5C%24Total%26%26%26126826%26%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Answer:
The correct answer is letter "D": All of these answer choices are incorrect.
Explanation:
Retained earnings are the part of the company's net profits which does not pay out as dividends to shareholders. The company keeps this money in the business to reinvest it or uses it to pay off a part of its debt.
When revenues of a company exceed the expenses of a period, the firm has net income. Net income is reported as a credit entry. Thus, the retained earnings will have a credit balance prior to closing.
Answer:
When Terry fed her dog, she noticed that only one can of Alpo Beef Chunk Dinner remained. Since it was the only kind her aging dog ate, she stopped at the supermarket and bought a case of Alpo Beef Chunk Dinner dog food. She used habitual decision making process to replenish her stock of can.
Explanation:
As we have seen that Terry feeds her dog with only Alpo Beef Chunk, she don't consider any other option, product and brand, therefore, she needs very less search and almost no evaluation of any other option available in this product category. In this kind of decision making consumers needs very less information about the product because they know what they are going to purchase and they are very less bothered about the other options. Consumers feel almost no frustration in searching for the information and looking into the shelves for the other brands, they just go straight to the racks and pick their products up. Consumers saves their time by using this kind of decision making. In this kind of decision making, human brain form certain patterns, develop habits and therefore, saves energy.
Direct labour rate variance = (3875) unfavourable, Direct labour efficiency rate = (800) unfavourable
<u>Explanation:</u>
<u>Computation of Direct Material Price & Quantity Variance
</u>
Direct Material Purchase - Price variance = (SP minus AP) multiply AQ Purchase ($1.45 minus $1.48) multiply19000 = ($570) Unfavourable
Direc Material Quantity Variance =(SQ-AQ)SP =
((20 multiply600)-10500) multiply$1.45 = $2,175 Favourable
Direct Material Price variance - (SP minus AP)AQ Used = ($1.45minus $1.48) multiply10500 = ($315) Unfavourable
<u>Computation of Direct Labour Rate & Efficiency Variance
</u>
Direct Labour Rate variance = (SR minus AR)multiply AH
= ($8 minus $9.25) multiply3100 = -3875 Un Favourable
Direct Labour Efficiency Variance (SH minus AH)multiply SR
= ((5 multiply 600) minus 3100)multiply8) = -800 Un Favourable
