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2 years ago

8

Your catering business sells luncheons and dinners. Luncheons are $1,000 each, and dinners are $2,000 each. You sold 300 meals i

n total for revenue of $460,000. How many of each did you sell?

1 answer:

Jet001 [13]2 years ago

7 0

Answer:

140 luncheons, 160 dinners

Explanation:

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WRT, a calendar year S corporation, has 100 shares of outstanding stock. At the beginning of the year, Mr. Wallace owned all 100

liq [111]

Answer:

income = $215970.5

Explanation:

given data

Wallace own = 100 share

time = 273 days ( 1 january to 30 september )

Wallace remaining share = 100 - 40 - 25 = 35 share

time remaining = 92 days ( 365 - 273 )

brother share = 25

time = 92 days ( 1 october to 31 december )

daughter share = 40

time = 92 days ( 1 october to 31 december )

ordinary income = $216000

to find out

income

solution

we find first ordinary income per share that will be

ordinary income per share = income / total share

ordinary income per share = 216000 / 100

ordinary income per share = $2160

and

ordinary income per share will be = 2160 / 365 = 5.917 per share per day

so

income of Wallace is

share ×time period × per share per day

= 100×273 × 5.917 = $161534.1 .....................1

= 35×92 × 5.917 = $19052.74 .....................2

income of brother

share ×time period × per share per day

= 25×92 × 5.917 = $13609.1 .....................3

income of daughter

share ×time period × per share per day

= 40×92 × 5.917 = $21774.56 .....................4

so now income will be by adding equation 1, 2 , 3 and 4

income = 161534.1 + 19052.74 + 13609.1 + 21774.56

income = $215970.5

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2 years ago

Vegetarian Delights has been experiencing declining market conditions for its specialty foods division. Management decided to te

Vesnalui [34]

Answer:

$3.5 million

Explanation:

Data given in the question

Book value of the division assets = $33.50 million

Fair value of the division assets = $30 million

The sum of estimated future cash flows generated = $38 million

So, by considering the above information, the amount of impairment loss is

= Book value of the division assets - fair value of the division asset

= $33.5 million - $30 million

= $3.5 million

Since the fair value is less than the book value so the difference should be recorded as an impairment loss

5 0

2 years ago

TechPro offers instructional courses in e-commerce website design. The company holds classes in a building that it owns.

myrzilka [38]

Answer:

1. fixed and indirect

2. variable and direct

3. variable and direct

4. fixed and indirect

5. fixed and indirect

6. variable and direct

Explanation:

<u>Fixed and variable costs</u>

A fixed cost is expected to be constant for a short term period whilst a variable cost is expected to vary in direct proportion to the number of units produced in this case it is the individual classes.

Depreciation expense on classroom building and on computers is a fixed cost that is expected to remain constant and the instructor wage varies with the number of classes thus a variable cost.

<u>Direct and Indirect costs</u>

A direct cost can be directly traced to the cost object by observation whist the indirect cost can not be directly traced on a cost object.

The instructors wage is a direct cost, his effort is seen with the success of the classes whist the depreciation expenses are indirect costs.

4 0

2 years ago

John is an entrepreneur who plans to enter a franchise contract with a hotel business. which of these is an advantage that John

umka2103 [35]

Answer:

The correct answer would be option C, He will be able to gain knowledge and support from the hotel business to run the franchise.

Explanation:

Franchise is basically a contract between two parties in which one of the party who is owning the business is ready to sell his business rights to use its name and products to the other party. The other party can open the same business with the same name and products or services and run that business. In this type of contract, a continuous help and support is given to the franchisee to run the business. So if John being an entrepreneur wants to enter into the franchise contract, then he will surly be able to gain knowledge and support from the hotel business to run the franchise.

3 0

2 years ago

Read 2 more answers

Vogel Corporation's cost of goods manufactured last month was $136,000. The beginning finished goods inventory was $35,000 and t

rosijanka [135]

Answer:

117,000 adjusted COGS

Explanation:

$$$Beginning Inventory + Manufactured = Ending Inventory + COGS$

35,000 + 136,000 = 48,000 + COGS

COGS = 123,000 before adjustment

overapplied overhead for 6,000

This means the applied is higher than actual expenses, the cost is 6,000 lower we must decrease the COGS

123,000 - 6,000 = 117,000 adjusted COGS

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1 year ago