Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Lindo Company incurs annual fixed costs of $80,000. Variable costs for Lindo’s product are $40 per unit, and the sales price is $64 per unit. Lindo desires to earn an annual profit of $40,000.
To calculate the sales in volume and dollars we need to use the break-even formula:
Break-even point (units)= (fixed costs + profit)/ contribution margin
Break-even point (units)= (80,000 + 40,000) / (64 - 40)= 5,000 units
Break-even point (dollars)= (fixed costs + profit)/ contribution margin ratio
Break-even point (dollars)= 120,000 / (24/64)= $320,000
Answer:
b. the asset must have an expected life of a normal operating cycle.
Explanation:
A current asset can be defined as all of the assets that are being owned by a company or business entity and are expected to be converted into their cash equivalent through sales or use within a period of one year of its date on the organization's balance sheet.
Hence, to be included in property, plant, and equipment, an asset must have all of the following;
I. The asset is expected or required to be held for use
II. It must be tangible in nature.
III. It is required to have an expected life of that is typically above a year.
Answer:
Debit cash $3,390
Credit sales revenue $210
Cales tax payable $3,180
Explanation:
Preparation of the journal entry to record the information given.
Journal entry
Debit cash $3,390
($3,180+$210)
Credit sales revenue $210
Cales tax payable $3,180
Answer:
Adaptation of industrial products is the correct answer.
Explanation:
