Solution:
Instructions Journalize the April transactions:
Date Account Titles and Explanation
4/30 Work in Process—Cooking
Work in Process—Canning
Raw Materials Inventory
4/30 Work in Process—Cooking
Work in Process—Canning
Factory Labor
4/30 Work in Process—Cooking
Work in Process—Canning
Manufacturing Overhead
4/30 Work in Process—Canning
Work in Process—Cooking
Cooking and out the debits
Debit Credit
22,800
10,900 33,700
9,400
7,230 16,630
33,800
28,100 61,900
55,900
55,900
Full question attached
Answer:
D. Earnings before interest and taxes(EBIT)
Explanation:
Earnings before interest and taxes abbreviated EBIT in the income statement is arrived at by deducting operating expenses from revenue/sales to get operating income. The operating income is earnings before interest and taxes which comes before gross income(subtract other expenses). Operating expenses are the main expenses concerned with operations of the business such as the Sales
Answer:
Find attached complete question:
common stock dividends is $38,960
preferred stock dividends is $5,040
Explanation:
Going by the complete question,preferred stock dividends is computed thus:
preferred stock dividends=number of shares*par value*dividend rate
number of shares is 7000 (issued and outstanding)
par value of share is $12
dividend rate is 6%
preferred stock dividend=7000*$12*6%=$5040
The preferred stockholders would receive $5040 dividends while the remainder of dividends goes to common stockholders as shown below
Total dividends $44,000
preferred stock dividends ($5040)
common stock dividends $38,960
Answer: Reduce output
Explanation: Profit = Total Revenue – Total Costs
Therefore, profit maximization occurs therefore, profit maximization occurs at the most significant gap or the biggest difference between the total revenue and the total cost.
TC = AC×Q = $4×500 = $2,000
Theoretically, profit maximization occurs where MR = MC
From the forgoing, producing an extra unit will increase the cost of the company thereby reducing profit.
The company should reduced output to around 499 units or less
