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3 years ago

Variable costing prepares the income statement using the traditional format. Question content area bottom Part 1 True False

1 answer:

7 0

It is a false statement that variable costing prepares the income statement using the traditional format because it is for allocation of production costs.

<h3>What is variable costing?</h3>

Variable costing refers to an accounting method that is used to allocate production costs to product being produced.

This method of costing allocates all variable-manufacturing costs to the product during the period.

Furthermore, a variable costing assigns only variable costs to the products.

In conclusion, it is a false statement that variable costing prepares the income statement using the traditional format because it is for allocation of production costs.

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Suppose a manager's preferences depend only on profit. such a manager will then have an indifference curve that:

My name is Ann [436]

<span>If a manager's preferences depend only on profit. such a manager will then have an indifference curve that </span><span>is tangent to the profit curve at a quantity exactly equal to 2.5.</span>

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3 years ago

The method of reporting operating activities that lists operating cash receipts and subtracts operating cash payments is referre

jarptica [38.1K]

The direct method of cashflow is one that lists the operating cash receipts and subtracts operating cash payments.

<h3>What is the cash flow direct method?</h3>

This cashflow method determines the changes in cash receipts and payments that are reported in the cash flow from the operations section.

Hence, the method method of cashflow is one that lists the operating cash receipts and subtracts operating cash payments.

Read more about direct method

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2 years ago

Lois Bragg owns a small restaurant in Boston. Ms. Bragg provided her accountant with the following summary information regarding

loris [4]

Answer:

Compute the amount of funds Ms. Bragg needs to borrow for June.

$162,850

Determine the amount of interest expense the restaurant will report on the June pro forma income statement.

$0, money is borrowed on June 30th there is no interest expense during June

What amount will the restaurant report as interest expense on the July pro forma income statement

$1,357

Explanation:

accounts receivable May 31 is $56,000.

budgeted cash sales for June $145,000

credit sales for June $591,000

65% of credit sales are collected in current month, 35% collected next month

suppliers are paid on the last day of the month

budgeted cash payments for June 30th = $710,000

cash balance $38,000

how much money does Ms. Bragg need to borrow on June 30?

total cash collections in June = $56,000 (from previous month) + $145,000 (cash sales) + $384,150 (65% of $591,000) = $585,150

payments - cash collected = $710,000 - $585,150 = $124,850

money borrowed on June 30 = $124,850 + $38,000 (desired cash balance) = $162,850

interest expense during July = $162,850 x 10% x 1/12 = $1,357

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3 years ago

You can only get federal student loans if you demonstrate financial need.

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Thats tricky because its free money so you can get it even if you are financially stable. as long as you fill out the fafsa form and your info is right you can see how much you eligible for
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3 years ago

Often, ________ are not included on all-staff memos, invited to events, or offered the same bonuses or perks offered to full-tim

CaHeK987 [17]

Answer: Part time employees

Explanation: These are employees that do a smaller amount of work than the full designated amount of time throughout the course of a typical work week. The amount of time could range from one to 20hours to some companies and one to 34 hours to others. The employees usually not included in retirement proposals of the company that hired them and also not given organized provision of medical care privileges.

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4 years ago