Answer: discloses contribution margin in the body of the statement.
Explanation:
The Cost Volume Profit (CVP) income statement is made to better show the influence of variable costs and fixed costs on income. It as well shows the effects that changing costs and production volume can have on the income.
Although it shows the same income as a traditional income statement, the format is different in that the contribution margin is included in the statement and the costs and revenue per unit are shown as well.
Answer:
The difference between the two is that Hazard insurance can cover you and or protect you against "structural damage caused by natural disasters".
Meanwhile Homeowners insurance is "a financial protection against theft"...
So, long story short,
Hazard insurance=protection from natural disasters (structural damage)
Hazard insurance=protection from natural disasters (structural damage)Homeowners insurance=protection against theft and damage to your home and belongings
I hope this helped!!
Answer:
$506,000
Explanation:
The gross profit of a company is the balance left after the deduction of costs associated with producing or selling of the company's goods or cost associated with providing services from the net revenue
The gross profit is simply calculated as
= Net revenue - Cost of goods sold
= $870,000 - $364,000
= $506,000
Therefore, Callie's gross profit is $506,000
Answer:
$40,000.
Explanation:
Given that Charco purchased a franchise from Burger Master on January 1, 2021, for $240,000
Useful life of Franchise = 6 years
Cost = $240,000
Yearly amortization expense = cost/useful life
= $240,000/6
= $40,000
The amortization expense for the year ended December 31, 2021 is $40,000. This is the yearly charge to p/l for the Franchise.
