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2 years ago

What is a tax return?

Business

1 answer:

ss7ja [257]2 years ago

3 0

What, you just told yourself the answer

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Texas officially uses which method to select state judges

Inessa [10]

Through partisan elections at each court level. ...

The chief justice or judge of each court is selected by voters at large.

7 0

3 years ago

Lorillard Corporation has the following information for April, May, and June 2018: April May June Units produced 12,500 12,500 1

Llana [10]

Answer:

April ending inventory cost= $121,875

Explanation:

As per the data given in the question,

Unit production cost Absorption cost Variable cost

Direct material $15 $15

Direct labor 10 10

Variable factory overhead 7.5 7.5

Fixed factory overhead 5

Total cost $37.5 $32.5

Finished goods inventory = 12,500 - 8,750 = 3,750

Finished goods inventory cost using absorption costing = 3,750 × $37.50

= $140,625

Finished goods inventory cost using variable costing = 3,750 × $32.50

= $121,875

6 0

3 years ago

Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 14,000 Selling price per unit $ 16

DanielleElmas [232]

Answer:

Results are below.

Explanation:

First, we need to calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 12,000 + 87,000 - 23,000

COGS= $76,000

Traditional format income statement:

Sales= 14,000*16= 224,000

COGS= (76,000)

Gross profit= 148,000

Total selling expense= (20,000 + 14,000*1)= (34,000)

Total administrative expense= (13,000 + 14,000*1)= (27,000)

Net operating income= 87,000

Contribution format income statement:

Sales= 14,000*16= 224,000

Total variable cost= (76,000 + 14,000 + 14,000)= (104,000)

Contribution margin= 120,000

Total fixed selling expense= (20,000)

Total fixed administrative expense= (13,000)

Net operating income= 87,000

5 0

3 years ago

As a consumer it is important for you to study management because

bagirrra123 [75]

Answer:

we expect to experience both efficiency and effectiveness when interacting with organizations

6 0

3 years ago

An example of an inventory accounting policy that should be disclosed in Summary of Significant Accounting Policies is the:_____

ludmilkaskok [199]

Answer:

Option C

Explanation:

The overview of important accounting rules is a portion of the end notes that accompanies the financial statements of an company, outlining the key policies that the finance department is following. The policy overview is prescribed by the accounting system in force (like the GAAP or IFRS).

The approach a corporation uses to assess the inventory expense (inventory valuation) affects the financial reports explicitly. Thus, it should be depicted in summary of accounting policies.

8 0

3 years ago