Answer:
65,000 units
Explanation:
Let the number of units be sold = x
Operating Income= Sales- Variable cost – Fixed Cost
Operating Income = 40x - 24x - 560,000
Operating Income = 16x - 560,000
Return on Investment = Operating Income / Net Operating Assets
16% = (16x - 560,000 )/ 3,000,000
480,000 = 16x - 560,000
16x = 480,000 + 560,000
16x = 1,040,000
x = 65,000 units
Answer:
Option (D) is correct.
Explanation:
Calculation of total manufacturing overhead:-
4000 units manufacturing overhead:
= Production volume × Manufacturing overhead
= 4,000 × $94
= $376,000
5000 units manufacturing overhead:
= Production volume × Manufacturing overhead
= 5,000 × $77.60
= $388,000
Variable cost per unit:
= 12
Fixed cost = Total cost - variable cost
= $388,000 - 5,000 × 12
= $388,000 - $60,000
= $328,000
So total monthly fixed manufacturing cost is $328,000.
$3500 sum will spk record for interest expense in their december 31, 2022
Interest = $ 6000 for 12 months.
From June to December there will be 7 months due,
therefore 7/12x6000 = $ 3500
An interest expense is the fetched brought about by an substance for borrowed reserves. Intrigued cost may be a non-operating cost appeared on the salary explanation. It speaks to intrigued payable on any borrowings—bonds, credits, convertible obligation or lines of credit. It is basically calculated as the intrigued rate times the exceptional foremost sum of the obligation. Interest expense on the income statement represents interest accrued during the period covered by the financial statements, and not the amount of interest paid over that period. While interest expense is tax-deductible for companies, in an individual's case, it depends on their jurisdiction and also on the loan's purpose.
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Answer:
<u>Record the issuance of note.
</u>
November 1, 2021
Dr. Cash 46000
Cr. Note Payable 46000
<u>Record the adjustment for interest.</u>
December 31, 2021
Dr. Interest Expense 460
Cr. Interest Payable 460
(46000*6%)*3/12 = 460
<u>Record the repayment of the note at maturity</u>
Dr. Note Payable 46000
Dr. Interest Payable 460
Dr. Interest Expense 230
Cr. Cash 46,690
(46000*6%)*1/12 = 230
Explanation:
* At the year end the interest expense is accrued and recorded as interest payable.
