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3 years ago

Korte Company reported the following information for 2014:

Business

1 answer:

sergejj [24]3 years ago

4 0

Answer: For 2014, Korte would report comprehensive income of $341,000.

Explanation:

Korte Company

Comprehensive income statement for 2014 (extract)

Sales revenue $1,500,000

Cost of goods sold (1,050,000)

Gross profit 450,000

Operating expenses (165,000)

<em>Other income:</em>

Unrealised gain on AFS securities 50,000

Dividends received 6,000

Comprehensive income $341,000

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Coronado Industries uses job order costing for its brand new line of sewing machines. The cost incurred for production during 20

pashok25 [27]

Answer:

Cost per machine = $2,440 per machine

Explanation:

Provided Information

Opening work in process = $23,000

Additions during the month

Direct Materials = $24,000

Direct Labor = $17,000

Manufacturing Overheads = $14,000

Total during the month = $55,000

Closing work in process = $17,000

Cost of manufacturing during the month = Opening + Additions - Closing

= $23,000 + $55,000 - $17,000 = $61,000

Number of machines produced = 25 machines

Cost per machine = $61,000/ 25 = $2,440 per machine

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3 years ago

Merchandise accounts and computations LO C2. Kleiner Merchandising Company Accumulated depreciation $700 Beginning inventory 11,

Assoli18 [71]

Answer:

(A) Kleiner Merchandising Company:

Goods available for sale = $24,500

Cost of goods sold = $17,900

Gross profit = $3,600

Net income = $1,550

(B) Krug Service Company:

Net income = $16,300

Explanation:

(A) Kleiner Merchandising Company:

Goods available for sale:

= Beginning inventory + Net purchases

= $11,000 + $13,500

= $24,500

Cost of goods sold:

= Goods available for sale - Ending inventory

= $24,500 - $6,600

= $17,900

Gross profit = Net sales - Cost of goods sold

= $21,500 - $17,900

= $3,600

(b) Kleiner Merchandising Company:

Gross profit = $3,600

Net income = Gross profit - Expenses

= $3,600 - 2,050

= $1,550

Krug Service Company:

Net income = Revenues - Expenses

= $26,000 - $9,700

= $16,300

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3 years ago

____ helps individuals, groups, and organizations store useful information, such as a list of tasks to complete or a list of nam

Gnoma [55]

Answer:

The correct answer here is Personal information managers.

Explanation:

PIM or personal information manager is a software application which is used by individual, groups and organizations to manage contacts, calendar, reminders, alerts, notes , making appointments, project management etc through its PIM tools and these tools can vary according to the need. So it can be said that this personal information manager acts as a personal organizer.

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4 years ago

A budget: A. is an aid to coordinate what needs to be done B. is the quantitative expression of a proposed plan of action by ma

vfiekz [6]

Answer:

D. All of the above are correct.

Explanation:

A budget is a proposed plan that outlines the financial and nonfinancial statement.

The main objective of the budget:

To make a goal for future plans.

To set strategies to achieve a present objective.

To reduce the inequalities in the wealth.

The importance of the budget in business is that making a proper budget helps the owner to plan and manage the finances of the company and help to improve the profits.

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3 years ago

The new bridge would require 14 piers to support it and it was known that each time a pier is sunk into the harbor it would take

Sergeu [11.5K]

Answer:

$21,000

Explanation:

The new bridge would take 30 man hours of labor at $50 per hour, in activity based costing, this means that ,

30*50 = 1500.

Now, it will require 14 piers to support it each time a pier is sunk into the harbor,hence the final calculation will be:

30*50*14 = 21000.

Hope this Helps.

Goodluck.

6 0

3 years ago