Answer and Explanation:
The computation of the variable cost per unit and the total fixed cost is shown below;
a. The variable cost per unit is
= (Highest total cost - lowest total cost) ÷ (Highest units produced - lowest units produced)
= ($440,000 - $300,000) ÷ (5,500 - 2,700)
= $140,000 ÷ 2,800
= $50
b. The total fixed cost is
= $440,000 - 5,500 × $50
= $440,000 - $275,000
= $165,000
Answer:
$4,250
Explanation:
Current return = $102,000 - $85,000 = $17,500
Current rate of return = $17,500/$85,000 = 0.2, or 20%
Additional required rate of return = 25% - 20% = 5%
Dollar amount of income = 5% * $85,000 = $4,250
Therefore, Barbra needs $4,250 to reach her objective.
Check:
Total return = $17,500 + $4,250 = $21,250
Total required rate of return = $21,250/$85,000 = 0.25, or 25%.
Answer:
A. Current liability
1. 60-day promissory note.
2. Salaries payable.
3. FICA taxes payable.
4. Income taxes payable.
5. Accounts payable.
B. Long-term liability
1. Note payable due in full in two years.
C. Not a liability
1. Payment of a 4-year term loan due this year.
2. Payment of a 30-year term loan due this year.
Explanation:
Current liability refers to a short-term liability that is that is due for a payment within a year.
Long-term liability refers to a liability that is that is due for a payment more than one year in the future.
Not a liability - This implies that a liability is no longer a liability the moment a payment is made for it or the moment it is paid.
Based on the above, we therefore have:
A. Current liability
1. 60-day promissory note.
2. Salaries payable.
3. FICA taxes payable.
4. Income taxes payable.
5. Accounts payable.
B. Long-term liability
1. Note payable due in full in two years.
C. Not a liability
1. Payment of a 4-year term loan due this year.
2. Payment of a 30-year term loan due this year.
Answer:
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. Financial managers typically: ... Help management make financial decisions.
A testamentary trust could be established to oversee the charitable asset distribution in accordance with the decedent's desires.
A Testamentary Trust: What Is It?
A trust that is created in line with the directions in a last will and testament is known as a testamentary trust. A trust is a fiduciary arrangement that enables a trustee—a third party—to manage resources on behalf of the trust's beneficiaries.
A person's instructions for creating a testamentary trust may be included in their will, allowing the trustee to disperse their assets to the designated beneficiaries. A testamentary trust, however, is not established until the person has gone away. Additionally, a testamentary trust may appear more than once in a will.
Learn more about Testamentary Trust here:
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