Answer:
$15,178
Explanation:
Given that;
Sales = $45,797
Costs of goods sold = $16,134
S&A expenses = $11,481
EBITDA = Sales - cost of goods sold - S&A
= $45,797 - $16,134 - $11,481
= $18,182
Depreciation = $5,980
EBIT = EBITDA - Depreciation
= $18,182 - $5,980
= $12,202
Interest expense = $3,620
EBT = EBIT - Interest expense
= $12,202 - $3,620
= $8,582
Less tax at 35% $3,004
Net income = $5,578
Operating cash flow = EBIT + depreciation - tax
= $12,202 + $5,980 - $3,004
= $15,178
Answer:
The correct answer is C.
Explanation:
Giving the following information:
Abburi Company's manufacturing overhead is 60% of its total conversion costs. Direct labor is $52,000.
We know that the conversion cost formula is:
Conversion cost= direct labor + manufacturing overhead
We need to use a rule of three:
60% = 52,000
100% = x
x= 1*52,000/0.6= 86,667
Now we can calculate overhead:
86,667= 52,000 + overhead
overhead= 34,667
Answer:
Joint Venture
Explanation:
The reason is that in a joint venture, two or more than two companies form a partnership aggrement to achieve the combined objectives in a limited time constraint. The companies gain synergy in achieving that combined objective which is all because of the pooling of resources of the venturing organization. Here is the similar case. Three organization here had formed a contract and agreed to pool their resources to achieve a combined objective. Once this objective is achieved the partnership (Joint Venture) will be dissolved.
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $4,680
Credit card expenses A/c Dr $120 ($4,800 × 2.5%)
To Sales $4,800
(Being the deposit is recorded and the remaining balance is debited to the cash account)
We debited the cash and the credit card expenses account and credited the sales account so that proper entry would be recorded.
The cost of goods sold for the year is $500.
Since FIFO method is to be used, the cost of goods sold for the year should be the cost of its first purchase regardless of when the product is actually bought. Thus, the cost of goods sold for the year is $500 ($500 × 1).
