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svlad2 [7]
3 years ago
10

Question 6. (10 marks)

Business
1 answer:
natka813 [3]3 years ago
8 0

brainly.com/question/12501354?answering=true&answeringSource=greatJob%2FquestionPagehttps://brainly.com/question/12501354?answering=true&answeringSource=greatJob%2FquestionPagehttps://brainly.com/question/12501354?answering=true&answeringSource=greatJob%2FquestionPagehttps://brainly.com/question/12501354?answering=true&answeringSource=greatJob%2FquestionPagehttps://brainly.com/question/12501354?answering=true&answeringSource=greatJob%2FquestionPage

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Depreciation--Jerry Company purchased machinery for $315,000 on May 1,2020 . It is estimated that it will have an useful life of
Gemiola [76]

Answer:

The depreciation for the first year is $75,000

Explanation:

In working hours method the depreciation on a fixed asset is charged using the ratio of numbers of hours utilized by the asset in a period and lifetime working capacity in hours.

First, we need to calculate the Depreciable value

Depreciable value = Cost of Asset - Salvage value = $315,000 - $15,000 = $300,000

Depreciation = Depreciable value x Numbers of hours worked / Total working capacity of Asset = $300,000 x 25,000 / 100,000 = $75,000

6 0
3 years ago
The expansionary phase of the business cycle is characterized by
Leokris [45]

Answer:

<u>increasing real output and reducing unemployment</u>

Explanation:

The expansionary phase of the cycle is business characterized by the i<em><u>ncreasing real output and reducing unemployment.</u></em>

<em> Business cycle refers to that cycle in which there is increase and decrease or fall and rise of output of goods and services.</em>

<em> Business cycle has main four stages expansion ,peak , contraction and trough.</em>

The main cause of business cycle is the forces of supply and demand , expectation of future and it availability of the capability may also cause the business cycle.

Economic cycle is another name of Business cycle . Business cycle plays a crucial rule in the economy as it influence the demand of the consumer.

4 0
3 years ago
How do you do income statement​
igomit [66]

To prepare an income statement, you will need to generate a trial balance report, calculate your revenue, determine the cost of goods sold, calculate the gross margin, include operating expenses, calculate your income, include income taxes, calculate net income and lastly finalize your income statement with business details and the reporting period.

If you can't find the time to make one from scratch, there are templates that can be used to help.

gross margin :  the amount of money a company retains after incurring the direct costs associated with producing the goods it sells and the services it provides.

net income : net earnings, is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses.

3 0
2 years ago
George Company has a relevant range of​ 150,000 units to​ 400,000 units. The company has total fixed costs of​ $527,000. Total f
Anestetic [448]

Answer: $0.54

Explanation:

Total cost = Fixed cost + Variable cost

$622,500 = $527,000 + Variable cost

Variable cost = $622,500 - $527,000

Variable cost = $95,500

Variable cost per unit will be calculated as the variable cost divided by the production unit. This will be:

= $95,500/176,000

= $0.54

The variable cost per units is $0.54.

8 0
3 years ago
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company for the month
julsineya [31]

Answer and Explanation:

a. The preparation of the cost of goods manufactured statement is as follows:

Opening work in process $119,760

Direct Material    

Opening inventory $178,750  

Add: Material Purchased $343,200  

Cost of Materials Available  $521,950  

Less: Ending Inventory -$151,940  

Cost of Direct Materials Used $370,010  

Direct Labor  $321,750  

Factory Overhead:    

Indirect Labor $34,320  

Machinery Depreciation $20,740  

Heat, Light and Power $7,150  

Supplies $5,720  

Property Taxes $5,010  

Miscellaneous Costs $9,300  

Total Factory Overhead $82,240  

Total Manufacturing Costs Incurred $774,000

Total Manufacturing Costs   $893,760

Less: Ending Work in Process $101,800

Cost of Goods Manufactured $791,960

b. Now the cost of goods sold is

Cost of Goods Sold= Cost of Goods Manufactured + Beginning Finished Goods - Ending Finished Goods

= $791,960 + $91,160 - $103,320

= $779,800

5 0
3 years ago
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