Companies report prior period adjustments, net of any income tax effects in the single-step income statement.
A single step income statement is one of two commonly used formats for the income statement or profit and loss statement. It uses only one subtraction to arrive at net income. On the other hand, a multi-step statement reveals the company's gross profit, which is the difference between its sales revenue and its cost of goods sold, and operating profit, which is the difference between its gross profit and its operating expenses.
Answer:
Results are below.
Explanation:
<u>To calculate the fixed cost under the high-low method, we need to use the following formulas:</u>
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (110,000 - 87,500) / (4,000 - 2,500)
Variable cost per unit= $15
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 110,000 - (15*4,000)
Fixed costs= $50,000
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 87,500 - (2,500*15)
Fixed costs= $50,000
Answer:
It is called a co-pay.
Explanation:
"A copay is a fixed out-of-pocket amount paid by an insured for covered services." - https://www.investopedia.com
If the company's trend increases by 12.3% over the previous year and this is bound to continue then the percentage increase through a given number of months will be given by:
(1+ 0.123)∧m/12
we get (1.123)∧m/12
Simplifying the expression we get (1.123)∧(1/12)m
Evaluating (1.123)∧(1/12) we get 1.00971
Therefore, the expression to represent monthly percentage increase will be
(1.00971)∧m
