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lawyer [7]
3 years ago
11

Mustaine, inc., has a current stock price of $54. for the past year, the company had net income of $7,900,000, total equity of $

26,300,000, sales of $50,500,000, and 4.1 million shares of stock outstanding. requirement 1: what are earnings per share? (do not round intermediate calculations. round your answer to 2 decimal places (e.g., 32.16).) earnings per share $ 1.93 requirement 2: what is the price-earnings ratio?
Business
1 answer:
AnnZ [28]3 years ago
6 0

(a) Earnings per share = Net income/ total number of shares

Net Income = 7,900,000

Total number of shares = 4.1 Million = 4,100,000

Earnings per share = 7,900,000/4,100,000 = $1.9268/share

Earnings per share = $1.93/share (Rounded to 2 decimals)

(b) Price earnings ratio = Price per share/ Earnings per share

Price per share= $54

Earnings per share = $1.9268

Price earnings ratio = 54/1.9268 = 28.03

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VashaNatasha [74]

Answer:

The retained earnings should Quartz report at December​ 31, 2018 is $570,000

Explanation:

In this question, we apply the retained earnings equation which is shown below:

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3 years ago
Assume that ExxonMobil uses a standard cost system for each of its refineries. For the Houston refinery, the monthly fixed overh
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Answer:

a. Fixed overhead budget variance = Budgeted fixed overhead - Actual fixed overhead

= $8,000,000 - $8,750,000

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b. Predetermined overhead rate per barrel = $8,000,000 / 5,000,000

= $1.60 per barrel

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= $8,160,000

Fixed overhead volume variance = Fixed overhead applied - Budgeted fixed overhead  

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= $160,000 Favorable

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Fixed overhead volume variance = Fixed overhead applied - Budgeted fixed overhead  

5 0
2 years ago
LO 1.3Briefly discuss the chain of command for someone being hired into an organization as a staff managerial accountant.
grin007 [14]

Answer:

A staff managerial accountant is part of the mid-level accounting management.

The top position in the chain of command is the Chief Financial Officer, who is in charge of all financial matters within the firm, especially of presenting accurate financial information at the end of the accounting year to management, stockholders, and potential investors.

Directly below him is the controller, an important position in charge of reporting financial statements during the year, and helping gather information for auditors during external audtis.

Below a staff managerial accountant would be lower level accounting who are in charge of bookeeping on a daily basis.

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A business owner makes 60 items by hand in 45 hours. She could have earned $35 an hour working for someone else. Her total expli
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2 years ago
A person starts her own business after quitting a job in which she made $75,000 a year. Expenses include $100,000 for wages and
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Explicit costs are business expenses that are easily identifiable and can be accounted for.

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