Answer:
Net operating income= 15,000
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
<u>In this case, there is no beginning nor ending inventory. Fixed overhead is incorporated into the cost of goods sold in full.</u>
Sales= 500*100= 50,000
COGS= (10 + 25 + 15)*500 + 10,000= (35,000)
Gross profit= 25,000
Total selling and administrative costs= (5*500) + 7,500= (10,000)
Net operating income= 15,000
Answer:
$12,000
Explanation:
Gain = Sold duplex - Fair market Valve
Gain = 312,000 - 300,000
Gain = $12,000
Therefore $12,000 gain was recognized
<u>Solution and Explanation:</u>
<u>The following is the selling and administrative expense structure of the Fazel company for the year. According to the given information and the data:</u>
The Variable selling expenses (19730000* 3%) 591900
The Fixed Expenses
The Salaries expense 960000
The Utilities expense 365000
The Office space expense 230000
The Advertising expense 1200000
The Total Fixed expense 2755000
The Total selling & admin Expense 3346900
<u>Note:</u> the variable expense is calculated by multiplying the total sales given in the question with the percentage of the commission given
Answer:
There are 3 main types of tort; intentional tort, negligence tort and strict liability
Explanation:
By definition, a tort is a civil offense against another person. The victim who suffers in that offense can sue for damages, get represented by a lawyer and receive a compensation. There are 3 main types of tort; intentional tort, negligence tort and strict liability. Tort laws are followed when making a decision whether to hold a person legally responsible for the breach against another, and the type of compensation the injured party receives.An intentional tort for example is a civil offense committed when a person engages in intentional conduct that results in damages to another.
Answer:
The answer is: B) The median wage in Texas is much higher than the national average. THIS STATEMENT IS FALSE.
Explanation:
If you take the facts from the Census ACS 1 year survey, the median household income in Texas is $59,206 (2017 data) and a median hourly wage of $17,06 (2016 data from the Bureau of Labor Statistics).
If you compare those numbers with the national average, the US median household income is $60,336 (the national average is $1,130 higher than the Texas median household income). Historically the Texas median household income has been lower than the national average.
If we consider the median hourly wage in Texas of $17,06 (2016 data) and we compare to the national hourly wage of $17,81 (2016 data from the Bureau of Labor Statistics) we can clearly see it´s also lower. The top ten states with the highest median hourly wage are: Alaska, Massachusetts, Connecticut, Washington, Maryland, New York, New Jersey, California, Minnesota, Hawaii, with hourly wages ranging from $22.68 to $19.24
