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Sergeeva-Olga [200]
3 years ago
15

Jiminez, Inc., had the following transactions during the month of March 2015. Prepare an income statement based on this informat

ion, being careful to include only those items that should appear in that financial statement. 1. Cash received from bank loans was $10,000Revenues earned and received in cash were $9,850. 3. Dividends of $4,000 were paid to stockholders. 4. Expenses incurred and paid were $5,465
Business
1 answer:
vladimir1956 [14]3 years ago
5 0

Answer:

net income     4,385

Explanation:

The income statment will only include revenues and expenses account.

A revenue will be the gain realized from the business main activity or secondary like interst or rental revenues.

While expenses will be the cash erogation or losses iincurred in the business activities, their financing like interest expenses and other.

revenues       9,850

expenses     <u>  5,465   </u>

net income     4,385

The loan is not an expense. It wil lbe the interest it generated but we aren't given with that information

The dividends also aren't an expense they represent the return to the investors.

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St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% of normal production capacity. Production w
Ksju [112]

Answer:

$9,000 unfavorable

Explanation:

The computation of the total fixed overhead variance is shown below:

= Actual fixed overhead costs - Budgeted fixed overhead

where,

Budgeted fixed overhead  is $360,000

And, the Actual fixed overhead cost is computed below:

= Actual fixed overhead × Actual production  ÷ budgeted production

= $360,000 × 11,700 units ÷ 12,000 units

= $351,000

Now put these values to the above formula  

So, the value would equal to

= $351,000 - $360,000

= $9,000 unfavorable

5 0
3 years ago
A product-focused process is commonly used to produce "A. high-volume, high-variety products" "B.low-volume, high-variety produc
ki77a [65]

Answer: Option C  

                                                                       

Explanation: In simple words, product focused process refers to the processes that focuses on producing the batch of similar products. These processes are usually used to manufacture products like paper rolls and light bulbs.

Under this process large units are produced of a similar product. Such processes require high fixed cost and low variable cost.

From the above we can conclude that the correct option is C.

8 0
3 years ago
Labor productivity on the Cleveland Tools Inc. assembly line was 33 units per hour in 2019. In 2020, labor productivity was 35 u
elena-14-01-66 [18.8K]

Answer:

Productivity Growth = 6.1%

Explanation:

Productivity Growth = Current Productivity - Previous Productivity/ Previous Productivity

Productivity Growth = 35-33/33=2/33= 0.0606 or 0.061*100= 6.1%

Productivity Ratio =  Output/ Input

Labor Productivity=  No of Units/ No of Employees

A preferable approach to productivity measurement is to record multiple physical measures that capture the most important determinants of a company's productivity.

7 0
3 years ago
Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothi
natulia [17]

Answer:

Klean Fiber Company

Incremental Analysis for the Special order of 250,500 units of Y-Go undergarments:

Direct materials                                  $2.04         $511,020

Direct labor                                           0.40          100,200

Variable manufacturing overhead       1.04         260,520

Fixed manufacturing overhead            1.02         255,510

Total costs                                         $4.50      $1,127,250

Fixed manufacturing overhead           1.02          255,510

Incremental costs                             $3.48         $871,740

Explanation:

a) Data:

Full Capacity = 1,031,000

The per unit and the total costs at full capacity for Y-Go:

                                                 Per Undergarment       Total

Direct materials                                  $2.04         $2,103,240

Direct labor                                           0.40              412,400

Variable manufacturing overhead       1.04           1,072,240

Fixed manufacturing overhead            1.44           1,484,640

Variable selling expenses                    0.34            350,540

Totals                                                  $5.26       $5,423,060

b: In her decision to accept or reject the special order for 250,500 units of Y-Go undergarments by the U.S. Army, the Klean Fiber Company will only consider the relevant incremental unit cost of $3.48 and not the whole unit cost of $5.26.  The $3.48 cost excludes the fixed overheads or the selling and administrative expenses.

8 0
3 years ago
KL Airlines paid an annual dividend of $1.18 a share last month. The company is planning on paying $1.50, $1.75, and $1.80 a sha
True [87]

Answer:

the correct answer is $14.71

good luck

7 0
3 years ago
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