All categories

3 years ago

Using the data from the Terrace Industries:

Business

1 answer:

aniked [119]3 years ago

8 0

Answer:

Purchasing 70,000 x 1/3 = $23,333 DISTRICT 1

Purchasing 70,000 x 2/3 = $46,667 DISTRICT 2

Payroll 80,000 x1/3 = $26,667 DISTRICT 1

Payroll 80,000 x 2/3 = $53,333 DISTRICT 2

Explanation:

Sales 300,000 + 600,000 = 900,000

District 1 300,000/900,000 = 1/3

District 2 600,000/900,000 = 2/3

Purchasing 70,000 x 1/3 = 23,333

Purchasing 70,000 x 2/3 = 46,667

Payroll 80,000 x1/3 = 26,667

Payroll 80,000 x 2/3 = 53,333

You might be interested in

A recently issued FASB standard requires that companies recognize revenue when goods or services are_____to customers for the am

tensa zangetsu [6.8K]

Answer:

Transferred.

Explanation:

FASB is an acronym for Financial Accounting Standards Board. The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors. It was founded in 1972 but began operations fully on the 1st of July, 1973 by replacing the Accounting Principles Board (APB) and American Institute of Certified Public Accountants (AICPA).

A recently issued FASB standard known as the core revenue recognition principle, requires that companies recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.

6 0

3 years ago

Exercise 9-15A (Static) Using the current ratio to make comparisons LO 9-7 The following information was drawn from the balance

kiruha [24]

Answer:

a. 1.5 and 1.8

b. Montana

Explanation:

Below is the calculation for the current ratio:

a. Formula used, Current ratio = Current assets / Current liabilities

Current ratio of Kansas = 59000 / 40000 = 1.5

Current ratio of Montana = 78000 / 43000 = 1.8

b. The company that has a higher current ratio will have a greater likelihood to pay bills so Montana is the correct answer.

6 0

2 years ago

"In the past few years, McDonald’s has made a lot of changes to its menu, adding more healthy choices and more higher-priced ite

Andreas93 [3]

Answer: This can be explained as follows:-

Explanation: MCdonalds change in menus and adding more healthy choices does brings change in the traditional value chain of the company.

In traditional times company was mainly focused towards the taste of the product and to make the service as fast and as efficient as possible but now the company is taking care of the health of its customers. Company wants to attract new customer base of health conscious people. In traditional times company's aim was to make quick service to get the tables ready every time a customer walks in but today company wants to make the restaurant a place where people can sit and enjoy their meal for a while and company is taking help of technology in this.

3 0

2 years ago

Which of the following statements is false? Multiple Choice Prepaid insurance is a deferred expense. Prepaid insurance represent

inna [77]

Answer:

B. Prepaid insurance is shown on the income statement

Explanation:

Prepaid insurance first and foremost is a current asset and as such will not reflect in the income statement but in the statement of Financial Position or Balance Sheet.

Although, prepaid insurance will be shown as paid within the year, it must be deducted from the insurance premium paid for the current year and then reported in the balance sheet as a current asset.

Prepaid insurance is treated as a current asset because it is an indication of insurance premiums paid for by the company in advance. It is a payment for economic benefits that will be enjoyed in the future, therefore it is a current asset. The only part of an insurance premium that shows in the income statement is the insurance expense paid for insurance benefit enjoyed in the current period

3 0

2 years ago

Generally speaking, a narrow span of management implies that the height of the organization will be ____; a wide span of managem

Pani-rosa [81]

<span>a narrow span of management implies that the height of the organization will be long; a wide span of management implies that the height of the organization will be short.

This is because in a narrow span of management, less people work under each manager and therefore, there will be more levels of hierarchy making the height of the organization longer and the vice versa applies.
</span>

6 0

3 years ago