Overtime pay is not considered when you calculate your gross pay. true false

Which of the following will usually be found on an income statement prepared using absorption costing? Contribution Margin/ Gros

chubhunter [2.5K]

Answer:

C) No/Yes

Explanation:

An income statement (profit and loss account) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit

Absorption cost is a method of calculating the cost of a product or enterprise by taking into account indirect expenses (overheads) as well as direct costs.

How do you calculate total period cost under absorption costing?

Income statement shows Sales – Cost of Goods sold = Gross Margin (or Gross Profit) – Operating Expenses = Net Income and is based on the number of units SOLD.

3 0

4 years ago

Could somebody do my quiz for me on e2020?<br> don't fail make good grades

Gre4nikov [31]

By the looks of it you already got it taken care of but thanks for the points ;)

4 0

3 years ago

Suppose hockey skates sell in Canada for 135 Canadian dollars, and 1 Canadian dollar equals 1.004 U.S. Dollar. If purchasing pow

Katarina [22]

Answer:

$135.54

Explanation:

Calculation for the price of hockey skates in the United States

Using this formula

Price of hockey skates=Hockey skates sale × Spot rate Ph

Let plug in the formula

Price of hockey skates= 135.00 × $1.004Ph

Price of hockey skates=$135.54

Therefore the price of hockey skates in the United States is $135.54

4 0

3 years ago

What is the purpose of total quality management, defined as the principle that every member of staff must be committed to mainta

amm1812

The Management of Total Quality is composed of three paradigms: conceptualizing its main purpose, Management: the management system with steps such as planning, organizing, controlling, leading, etc. Total: broad organization, and Quality: with its usual definitions and all its complexities.
The concept of quality includes customer satisfaction and applies to both the product and the organization. Total Quality aims, with the final idea of customer satisfaction, obtain benefits for all members of the company. Therefore, it is not only intended to manufacture a product with the sole purpose of selling it, but also covers other aspects such as improvements in working conditions and in the training of personnel.The concept of total quality is an allusion to continuous improvement, with the aim of achieving optimum quality in all areas.

6 0

4 years ago

makvit [3.9K]

Answer:

$2,000

Explanation:

where the cost of the delivery truck is $28,000 and a useful life of 5 years with a salvage value of $3,000,

Annual Depreciation = $\frac{28000-3000}{5000}$

= $\frac{25000}{5}$

= 5000

Therefore,

After year 1 which is by January 1st, 2019

Net book value of the truck = $28,000 - $5,000

= $23,000

After year 2 which is by January 1st, 2020

Net book value of the truck = $23,000 - $5,000

= $18,000

After year 3 which is by January 1st, 2021

Net book value of the truck = $18,000 - $5,000

= $13,000

After year 4 which is by January 1st, 2022

Net book value of the truck = $13,000 - $5,000

= $8,000

If the useful life of the asset is extended to 7 years from 5 years, the number of years remaining for the asset as at January 1st, 2022 would be extended from 1 year to 3 years.

Therefore, where the residual value is $2,000

Depreciation per year for the remaining 3 years

= (8000 - 2000)/3

= 6000/3

= 2000

Popular Company would report $ 2,000 as depreciation expense for the year ended December 31st, 2022.

3 0

3 years ago