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GuDViN [60]
2 years ago
6

What is the name of the document that companies use to report quarterly financial results?.

Business
1 answer:
Fynjy0 [20]2 years ago
5 0

Answer:

 Form 10-Q

Explanation:

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The following selected account balances are provided for Delray Mfg.
Marina CMI [18]

Answer:

                  DELRAY MFG.  

               Income Statement  

For the year ended December 31, 2017  

 

Sales                           $1,250,000

<u>Cost of goods sold       623,840</u>

Gross profit                        626,160

General and

<u>Administrative expenses       129,300</u>

Net Income                    $496,860

 

              DELRAY MFG.  

Statement of Cost of Goods Sold  

For the year December 31, 2017  

 

Raw Material  

Raw material, beginning     $37,000

<u>Add: Purchases                      175,600</u>

Raw materials available    $212,600

<u>Less: Raw material, end        42,700 </u>

Cost of raw material used      169,900

<u>Add: Direct labor                     225,000</u>

Prime Cost                             394,900

<u> Add: Manufacturing overhead       221,090 </u>

Manufacturing cost              615,990

Add: Work in process, beginning    53,900

<u>Less: Work in process, Ending       41,500 </u>

Cost of Goods Manufactured    628,390

Add: Finished goods, beginning      62,750

Cost of goods available for sale     691,140

<u> Less: Finished goods, ending         67,300 </u>

Cost of goods sold         $623,840

Explanation:

Income statement is computed by deducting cost of goods sold from the sales of the period to get the gross profit, then deduct the general and administrative expenses to get the net income for the period.

To compute cost of goods sold it started from the raw materials beginning inventory then add the purchases of the raw materials including the handling cost to get the raw materials available. Then deduct the raw materials end to get the cost of raw material used for the period. Add direct labor to get the prime cost and then add manufacturing overhead to the prime cost to get the manufacturing cost. Lastly, add work in process beginning and deduct the work in process end to get the cost of goods manufactured then add the finished goods beginning to get the cost of goods available for sale. And from there we deduct the finished goods ending inventory to get the cost of goods sold for the period.

6 0
3 years ago
Hamilton company’s 8 percent coupon rate, quarterly payment, $1,000 par value bond, which matures in 20 years, currently sells a
aliya0001 [1]
The correct answer is the firm's component cost of debt for purposes of calculating the wacc is  7.32%. 
4 0
3 years ago
Ben attended a workshop hosted by SCORE, a SBA organization that counsels small-business owners on developing a good vision stat
Zielflug [23.3K]

Answer:

what the company wants to become, and its long-term direction and strategic intent

Explanation:

Vision statement is a long term road map of the direction a business needs to take in order to achieve its set goals and objectives. It usually undergoes little revision.

However the short term operational processes are constantly reviewed to make the business better align with long term goals as stated in the vision statement.

In this scenario where the vision statement of small businesses are being formulated the speakers will discuss what the company wants to become, and its long-term direction and strategic intent

8 0
3 years ago
The seller of product a has no idle capacity and can sell all it can produce at $60 per unit. outlay (variable) cost is $12. wha
Marrrta [24]

The answer is $48.

The seller of product a has no idle capacity and can sell all it can produce at $60 per unit. outlay (variable) cost is $12. $48 is the opportunity cost, assuming the seller sells internally

It is calculated as follows:

Opportunity cost= Production cost- Outlay cost

                             = 60-12

                               =$48

Opportunity costs represent the potential benefits which any individual or investor, or  any business misses out on when choosing one alternative over another.

Because the opportunity costs are generally unseen by definition, they can be easily overlooked. Understanding of the potential missed opportunities when any business or any individual chooses one investment over another investment allows for better decision making.

To know more about opportunity cost here:

brainly.com/question/13036997

#SPJ4

5 0
2 years ago
Joan borrowed $10,000 from a relative to start her own business. Assuming she takes all responsibility for the company's financi
iVinArrow [24]

Answer:

sole proprietorship

Explanation: im guessing

4 0
2 years ago
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