Answer:
$8,125,000
Explanation:
Break-even point is the level of sales on which business has no profit no loss situation. The business only covers the variable and fixed cost at this point.
Total Contribution ratio = (65% x 30%) + (35% x 50%) = 19.5% + 17.5% = 37%
Fixed cost = $4,625,000
Break-even point = Fixed cost / Contribution margin ratio = $4,625,000 / 37% = $12,500,000
Break-even Sales for Sports Division = $12,500,000 x 65% = $8,125,000
Answer:
Results are below.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. <u>The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead. </u>
The v<u>ariable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).</u>
<u>Unit cost under absorption costing:</u>
Unitary product cost= 137 + 75 + 4 + (846,800/14,600)
Unitary product cost= $274
<u>Unit cost under variable costing:</u>
Unitary variable product cost= 137 + 75 + 4
Unitary variable product cost= $216
Answer: Refundable Tax Credit
Explanation:
When a tax credit is able to reduce your tax liability to below zero and then the remainder is returned to you, that is a Refundable Tax Credit. For Instance, if you get a Refundable tax credit from the IRS of $300 and your Tax Liability is $250 then not only do you not have to pay the liability but the IRS will give you $50 which is the remainder after the tax credit reduced the liability to $0.
If you have $0 in Liability, you can still apply for a Refundable Tax Credit which means that you will be paid the whole thing.
Some people therefore first calculate their taxes and then remove the deductions and apply for Non-refundable tax credits and then when their liability is at the lowest, they apply for a Refundable Tax Credit which then means that they can stand a chance to get something from the IRS.
Answer:
Dividend Paid $743
Explanation:
From retained earnings, we can work out dividend paid
Retained earnings beginning $460
Net income for the year $993
Retained earnings-closing ($710)
Divided paid $743
Answer:
$18,640
Explanation:
Given that,
Balance as per books = $6,500
Non Sufficient fund checks returned by the banks = $3,200
Bank service charge = $60
The bookkeeper recorded a $ 1,700 check as $ 17,100 in payment of the current month's rent.
Adjusted book balance:
= Balance as per books + Wrong entry - Non Sufficient fund checks returned by the banks - Bank service charge
= $6,500 + ($17,100 - $1,700) - $3,200 - $60
= $18,640
