What, if anything, should you do to correct the following sentence?

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of oper

Olin [163]

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations:

Variable costs per unit:

Manufacturing:

Direct materials $ 6

Direct labor $ 9

Variable manufacturing overhead $ 3

Variable selling and administrative $ 4

Fixed costs per year:

Fixed manufacturing overhead $ 300.000

Fixed selling and administrative $ 190.000

During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.

The four steps of writing an income declaration are: to identify sources of sales, in addition to profits from investments, for an instance pick out business enterprise prices and losses incurred over the same period. Consolidate sales, charges, profits, and losses by means of category, payee, or some other factor.

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7 0

1 year ago

An investor in a T-bill earns interest by _________. receiving interest payments every 90 days receiving dividend payments every

pashok25 [27]

Answer:

buying the bill at a discount from the face value to be received at maturity.

Explanation:

Treasury bills also referred to as T-bills are short term financial instruments. T-bills are issued at a discount from the face value or par value of the bill. Therefore, a T-bill which has a face value of $2000 may have a purchase price of $1,500. The investor will buy the T-bill for $1,500 and upon maturity of the instrument, the investor will receive $2000. The difference between the purchase price of $1,500 and the amount received at maturity of $2000 is interest earned by the investor.

4 0

2 years ago

Research any three successful entrepreneurs of your choice.

charle [14.2K]

Answer:

1. Andrew Carnegie

You probably recognize Andrew Carnegie’s name, since he’s one of the most famous and richest industrialists of all time. However, he didn’t accumulate his wealth as a result of formal education or a business-charged background. Instead, he dropped out of school at a young age and spent the major portion of his youth performing manual labor. He was a bobbin boy at a local cotton mill and then became a telegraph messenger. It wasn’t until he taught himself how to read and entered the railroad industry that he began to build the empire that would make him (and his family) a fortune.

2. John Paul DeJoria

You may not have heard of John Paul DeJoria, but you’ve certainly indulged in some of the beauty products attached to his name. Now a multi-billionaire and one of the most accomplished entrepreneurs in modern history, DeJoria got his start as a newspaper courier. To make ends meet, he worked as a tow truck driver and a janitor. Eventually, he found his way to working at a hair-care company, where he met his future partner, Paul Mitchell. With minimal experience and a $700 loan, the duo founded a company now known as John Paul Mitchell Systems. From there, DeJoria co-founded Patron Spirits and the House of Blues.

3. Harland Sanders

If someone asked you for a loan to start a restaurant, but had no formal culinary training or experience, would you make that loan? It seems crazy to think anyone could become a successful restauranteur without a background in the industry, but that’s exactly what Harlan “Colonel” Sanders was able to do. When he started his line of Kentucky Fried Chicken restaurants, the only experience he had was cooking for his siblings as a child and working at a number of odd jobs.

6 0

3 years ago

The following information is available for Cheyenne Corp..

Alenkinab [10]

Answer:

(a) Earnings per share for 2022 and 2021 for Cheyenne are as follows:

Earnings per share for 2002 = $1.21

Earnings per share for 2001 = $1.10

(b) The current ratio and debt to assets ratio for each year are as follows:

Current ratio for 2002 = 2.40

Current ratio for 2001 = 1.25

Debt to assets ratio for 2002 = 29%

Debt to assets ratio for 2001 = 41%

(c) Free cash flow for each year are as follows:

Free cash flow for 2002 = $63,000

Free cash flow for 2001 = $44,000

Explanation:

(a) Compute earnings per share for 2022 and 2021 for Cheyenne. (Round Earnings per share to 2 decimal places, e.g. $2.78.)

These can be calculated using the following formula:

Earnings per share = (Net income - Preferred dividends) / Average shares outstanding ..................... (1)

Where;

Average common shares outstanding = (Common shares outstanding at beginning of year + Common shares outstanding at end of year) / 2

Using equation (1), we have:

Earnings per share for 2002 = (81,700 - 9,705) / ((42,000 + 77,000) / 2) = $1.21

Earnings per share for 2001 = (51,615 - 9,705) / ((31,700 + 44,500) / 2) = $1.10

(b) Compute the current ratio and debt to assets ratio for each year. (Round ratio answers to 2 decimal places, e.g. 15.25 and percentage answers to 0 decimal places, e.g. 15%.)

These can be calculated using the following formula:

Current ratio = Current assets / Current liabilities ................... (2)

Debt to assets ratio = (Total liabilities / Total assets) * 100 .............. (3)

Using equation (2), we have:

Current ratio for 2002 = 56,880 / 23,700 = 2.40

Current ratio for 2001 = 39,625 / 31,700 = 1.25

Using equation (3), we have:

Debt to assets ratio for 2002 = (70,180 / 242,000) * 100 = 29%

Debt to assets ratio for 2001 = (84,870 / 207,000) * 100 = 41%

(c) Compute free cash flow for each year.

These can be calculated using the following formula:

Free cash flow = Net cash provided by operating activities - Expenditures on property, plant, and equipment .................(4)

Using equation (4), we have:

Free cash flow for 2002 = $91,700 - $28,700 = $63,000

Free cash flow for 2001 = $57,700 - $13,700 = $44,000

7 0

2 years ago

THe section of the comprehensive annual finanial report that presents tables and charts showing social and econimoc data in addi

posledela

Answer:

Statistical Section

Explanation:

The statistical section of comprehensive annual financial report contains details of most of PESTLE factors in numeric terms that shows to what extent these things will either affect or help the organization in near future.

3 0

2 years ago