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dimaraw [331]
10 months ago
10

a company has sales of $119,000; cost of goods sold of $74,870; and total direct expenses of $8,620. the department’ contributio

n to overhead is:
Business
1 answer:
arsen [322]10 months ago
6 0

The department’ contribution to overhead is $35510.

<h3>How to calculate the department contribution to overhead?</h3>

Given, sales= $119,000;

cost of goods sold= $74,870;

total direct expenses= $8,620.

Gross profit = Sales - (COGS + Direct expenses)

Gross profit = $119,000 - ($74870 + $8620)

Gross profit = $35,510.

<h3>What are direct expenses?</h3>

Direct costs, commonly referred to as costs of goods sold (COGS), are expenses that are entirely attributable to the creation of a particular commodity or service. These expenses cover the direct costs of the materials required to make the product as well as maybe any labor charges that are utilized only to make the product.

To know more about gross profit, visit:

brainly.com/question/18567528

#SPJ4

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__________ is an arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell
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Answer:

Franchise

Explanation:

This is a business arrangement where the owner of a successful business gives the right (through special business and legal arrangement) to another, to run such business in a specified location using his brand name in accordance with agreed terms and conditions. Under this arrangement, technical support and training are always provided by the franchiser.

The franchisor charges the franchisee a fee for the right which in most cases is periodic. The franchise is renewable.

7 0
2 years ago
What do virtually all "phishing" emails have in common?
solmaris [256]
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5 0
3 years ago
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PLEASE HELP ASAP!!!! CORRECT ANSWERS ONLY PLEASE!!!!
leonid [27]
A secured loan is the answer
3 0
3 years ago
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Jervis sells $75,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 5% f
Natasha2012 [34]

Answer:

Debit cash by $71,250, factoring expense by $3,750 and credit account receivable by $75,000.

Explanation:

Step 1 of 2

Calculate the amount of factoring fee.

Factoring fee = 5% ×Account Receivable

=5%×$75,000

=$3,750

​

Step 2 of 2. Journey record. Image attached.

Debit cash by $71,250, factoring expense by $3,750 and credit account receivable by $75,000.

4 0
3 years ago
The following information is available for Wenger Corporation:
bixtya [17]

Answer:

The taxable income for 2019 is $276,000.

Explanation:

(a) Calculation of taxable income for 2019:

Pretax financial income                                                             $302,100

Less: Excess of tax depreciation over book depreciation      ($43,800)

Add: Rent received in advance                                                 $18,100

Taxable income for 2019                                                           $276,400

(b) Journal entries for 2019:                             Debit ($)         Credit ($)

Income tax expense ($302,100 x 20%)             60,420

Deferred tax asset ($18,100 x 20%)                    3,620

           Deferred tax liability ($43,800 x 20%)                             8,760  

           Income tax payable ($276,400 x 20%)                            56,800

<em>Recording of income tax expense, deferred income taxes, and income taxes payable for 2019.</em>

(c) Journal entries for 2020:

Income tax expense (65,000 + 3,620 - 2,190)    66,430

Deferred tax asset ($43,800 x 20% / 4)               2,190

           Deferred tax liability ($18,100 x 20%)                               3,620  

           Income tax payable ($325,000 x 20%)                            65,000

<em>Recording of income tax expense, deferred income taxes, and income taxes payable for 2020.</em>

7 0
3 years ago
Read 2 more answers
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