Answer:
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Explanation:
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Answer:
Turnover Company
The net income of Turnover will increase by $500,000.
Explanation:
a) Data and Calculations:
Turner Company's shareholding in ICA = 10%
ICA pays dividend totalling $5 million
Turner's share of dividend = $500,000 ($5 million * 10%)
b) This is not based on equity accounting. Instead, the investment will be reported at fair value. Equity accounting method will be applied in recording Turner's investments in ICA Company, if the ownership interest is valued at 20–50% of the stock.
c) The $500,000 dividends received from ICA Company will be reported in the Income Statement of Turner Company as other income, unless Turner ordinarily buys and sells stocks. The 10% shareholding does not amount to significant control or influence for the accounts of Turner and ICA to be consolidated.
Answer:
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Explanation:
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Answer:
The fixed cost at any level of activity is $48,000 while the variable cost per unit at any level of activity is $1.30
Explanation:
The total cost is a function of the fixed and variable cost. Whilst the fixed cost does not change at a certain range of activities level, the variable cost changes as the level of activities(units produced or sold).
Using the high and low levels of activities given, let the variable cost per unit be v and the fixed cost F
for the high level,
F + 90,000v = 165,000
For the low level
F + 40,000v = 100,00
Solving both equations simultaneously,
50,000v = 65,000
v = $1.30
F + 40,000($1.30) = 100,000
F = 100,000 - 52,000
F = $48,000
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