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3 years ago

The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils:

Business

1 answer:

aniked [119]3 years ago

7 0

Answer:

a. Cost of goods sold = Sales - Gross profit

= $416,720 - $242,950

= $173,770

b. Direct materials cost = Materials purchased -Indirect materials - Materials inventory, end of period

= $128,350 - $45,220 - $17,090

= $66,060

c. Direct labor cost =Total manufacturing costs for the period - Direct materials cost - Factory overhead

= $239,610 - $66,060 - ($90,430 + $45,220 + $13,750)

= $239,610 - $66,060 - $149,380

=$239,610 - $215,440

=$24,170

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Esquire Comic Book Company had income before tax of $1,550,000 in 2021 before considering the following material items: 1. Esqui

olga2289 [7]

Answer:

Esquire Comic Book Company

Income Statement

For the Year Ended December 31, 2021

Operating income $1,550,000

Restructuring costs ($60,000)

Income from continuing operations b/ Taxes $1,490,000

Income tax expense ($372,500)

Income from continuing operations $1,117,500

Discontinued operations:

Operating income $610,000
Loss on disposal ($395,000)
Income tax on discontinued operations ($53,750)

Income from discontinued operations $161,250

Net income $1,278,750

Explanation:

Income from discontinued operations must be reported separately, but any restructuring costs must be included as operational expenses.

3 0

3 years ago

An economist makes an assumption that each additional year of education causes future wages to rise by 7 percent. In this model

ladessa [460]

Answer:

Wage year 4= $12222.19

Explanation:

Giving the following information:

Each additional year of education causes future wages to rise by 7 percent.

A person with 12 years of education makes $21 000 per year.

A person with 4 years of education=$?

We will use the present value formula to calculate the wage in year 0. Then with the final value formula calculate the year 4 wage.

PV= FV/[(1+r)^n]

FV=final value at t time

r= rate

n= period of time

PV= 21000/(1,07^12)= $9324. 2511

Final Value= PV*(1+r)^t

Final Value year 4= 9324.2511*(1,07^4)= $12222.19

8 0

3 years ago

To: Ellen Stanford From: Thomas Gregory [1] Proposed Agenda for November 6 Meeting Dear Ms. Stanford, [2] Please review the foll

puteri [66]

Answer:

Parts of Email:

Part 2 of the email is part of Introduction and Details as explained below.

Explanation:

Emails can be divided into six major components:

1. Subject Line: Proposed Agenda for November 6 Meeting

2. Greeting: Dear Ms. Stanford

3. Intro/Purpose: Please review the following agenda for our next shareholder meeting and recommend any changes.

4. Details: Agenda for our next shareholder meeting

• Rising stock prices

• Discussion of new investors

• Portfolios and new funding

• Introduction of new vice-president

5. Ask/Action: Please send any changes to the agenda to me by 3:00 p.m., November 3.

6.Closing/Sign-off: Many thanks, Thomas Thomas Gregory Financial Analyst Office: 854.454.4356 Fax: 435.458.9738 Cell: 834.435.8490

8 0

3 years ago

Being a convicted felon...

zloy xaker [14]

Answer:

B.stays with you for life.

6 0

1 year ago

What is the difference between sole proprietor and self employed

Kitty [74]

Answer:

Self Employed is the person working in a self owned business. Sole Proprietor is a person solely owning, managing a business.

Explanation:

Self Employment is the term used to depict economic activity of working for self owned organisation, rather than working for someone else. The self owned organisation could be entirely (solely) self owned - sole proprietorship, or co-owned by partners in a limited liability partnership

Sole Proprietor is a business entity owned, managed, run by a single entrepreneur. It is a business legal term given to an economic organisation. In this case, the proprietor necessarily has unlimited liability towards firm's claims. However, its not so always in case of self employment in LLC

5 0

3 years ago