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SVEN [57.7K]
3 years ago
8

ABC Company has the following amounts in its multiple step income statement: revenues of $5,000; operating expenses of $4,000; a

nd income tax expense of $200. What is ABC Company's income from operations
Business
1 answer:
Nutka1998 [239]3 years ago
6 0

Answer:

$1000

Explanation:

Operating income is the income from the regular business operation before adjusting for taxes and interest. Operating income is similar to EBIT, which stands for earnings before interest and taxes.

For ABC company,  revenue is $ 5,000

Operating expense is $ 4,000

Income tax is $200

operating income

= $5000-$4000

=$1000

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Tetra Co. uses the perpetual inventory system and a FIFO cost flow method. On January 1, the company purchased 2,400 units of in
Juli2301 [7.4K]

Answer:

The options are not correct:

Dr costs of good sold  $15,800

Cr inventory                                   $15,800

Explanation:

The 4,400 units sold consist of the 2,400 units purchased on 1 January at $4.00 per unit and the balance of 2,000 units from the purchase made on January 12 at $3.10 per unit

cost of goods sold=(2,400*$4)+(2,000*$3.10)=$15,800

The cost of goods sold is $15,800 ,neither is it $11,900 nor $11,800

The appropriate entries is to debit costs of good sold with $15,800 while merchandise inventory is credited with $15,800

3 0
2 years ago
Along a straight line downward sloping demand curve, elasticity is Constant but its value cannot be determined without measureme
N76 [4]

<u>Answer:</u>

<em>(A) Constant and equal to an absolute value of one</em>

<em></em>

<u>Explanation:</u>

The elasticity is diverse at each point on a demand curve with a consistent slope. The reason is that the "slope and elasticity" are various ideas. Incline estimates the steepness or evenness of a line as far as the estimation units for cost and amount. Elasticity determines the general reaction of the number of changes in price. Elasticity is diverse for each section on the interest bend. Although the slant is steady for this straight-line request bend, Elasticity is NOT.

4 0
3 years ago
The Great Fish Taco Corporation currently has fixed operating costs of $15,000​, sells its​ pre-made tacos for $6.00 per​ box, a
Makovka662 [10]

Answer: The Break-Even Point will reduce from $4,285.71 to $4,125

Explanation:

To get the Break-Even Point we can divide Fixed Assets by the Contribution margin.

The Contribution Margin is the Selling Price minus the Variable Cost.

For Scenario 1 the Break-Even Point will be,

= 15,000 / ( 6 - 2.50)

= $4,285.71

For Scenario 2 the Break-Even Point is,

= 16,500 / 6.5 -2.5

= $4,125

The Break-Even Point for Scenario 2 means that even though the higher Fixed Costs could have led to a higher Break-Even Point, the higher price contributed more than the fixed costs did and led to an ultimately lower Break-Even Point than the first Scenario.

3 0
2 years ago
What is the term used to describe the linking of key product or service requirements to process capabilities?
Igoryamba

Answer:

Product or service profiling.

Explanation:

Product or service profiling is the term used to describe the linking of key product or service requirements to process capabilities.

Generally, most organizations and business owners use the product or service profiling strategy to enhance consistency through the identification of their key services or product line and as such are avail the opportunity to select the appropriate process, procedures and techniques to achieve their goals and objectives successfully.

3 0
2 years ago
Fairfield company's raw materials inventory transactions for the most recent month are summarized here: beginning raw materials
astraxan [27]

<u>Calculation of raw materials cost added to the work in process inventory account during the period:</u>

Raw materials issued using materials requisition 1445 for Job 101  = $25,000

Add: Raw materials issued using materials requisition 1446 for Job 102 = $35,000

Add: Materials requisition 1447 used on multiple jobs 1= $30,000

Total raw materials cost added to the work in process inventory account during the period =<u> $90,000</u>


4 0
3 years ago
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