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svetlana [45]
3 years ago
11

Bonita Industries has estimated that total depreciation expense for the year ending December 31, 2018 will amount to $583000, an

d that 2018 year-end bonuses to employees will total $1290000. In Bonita's interim income statement for the six months ended June 30, 2018, what is the total amount of expense relating to these two items that should be reported?
Business
1 answer:
Mice21 [21]3 years ago
7 0

Answer:

<u><em>Total expenses 936,500</em></u>

depreciation 291,500

wages expense 645,000

Explanation:

Assuming the depreciation are calculate base on straight line or that their output is lineal through the year:

It will be half of the depreciation for the year.

583,000 / 2 =  291,500 depreciation expense for six-month

For the year-end bonused It wll be the same ideal, we assume are earned equally during the year. So at half year half of the bonuses should be earned:

wages expense 1,290,000/2 = 645,000

<u>Total expenses 936,500</u>

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Answer: The correct answer is "C. Includes project documents".

Explanation: A project plan is a document that is normally used by managers to guide the execution and control of the project. In addition, it contains documents, assumptions of decision-making and all other information that helps expedite communication between the parties that make up the project and defines the scope, costs and objectives of the project.

4 0
3 years ago
Specialization__________ the productivity of a nation's resources and allows for larger total _________.
ycow [4]
Specialization increases the productivity of a nation's resources and allows for larger total output.
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3 years ago
Statement on Standards for Tax Services No. 1 establishes as a basic principle of providing tax services that the CPA:
Aleksandr-060686 [28]

Answer:

c. Must have a good faith belief that the tax return position has a realistic possibility of success if challenged by the IRS

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therefore

option c is correct

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7 0
3 years ago
An analyst seeks to determine the value of Bulldog Industries. After careful research, the analyst believes that free cash flows
Reil [10]

Answer:

$2,033

Explanation:

The computation of the terminal value at the end of the year 2 is shown below:

= {Free cash flow of the firm × (1 + growth rate) × (1 + growth rate) + (1+ growth rate)} ÷ (WACC - growth rate)

= {($80 million × (1 + 0.10) × (1 + 0.10) × (1 + 0.05)} ÷ (10% - 5)

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3 0
3 years ago
Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its mo
k0ka [10]

Answer:

Wingate Company

1. Contribution format income statement segmented by divisions:

                                               Company        East         Central         West

Sales                                    $ 1,500,000  $350,000  $620,000  $530,000

Variable expenses                   655,500     154,000      241,800    259,700

Contribution margin                 844,500  $196,000   $378,200  $270,300

Traceable fixed expenses        819,000    294,000    329,000     196,000

Non-traceable fixed expenses 110,000

Net operating income (loss) $ (84,500)  $(98,000)    $49,200    $74,300

2. Decrease in net operating loss = $45,200

Explanation:

a) Data and Calculations:

Wingate's most recent monthly contribution format income statement:

Sales                                    $ 1,500,000

Variable expenses                   655,500

Contribution margin                 844,500

Fixed expenses                       929,000

Net operating income (loss) $ (84,500)

Additional data:

Division                                       East        Central         West

Sales                                   $ 350,000  $ 620,000   $ 530,000

Variable expenses as

 a percentage of sales                44 %           39 %            49 %

Traceable fixed expenses $ 294,000  $ 329,000   $ 196,000

Implementation of the proposal:

Sales for West = $604,200 ($530,000 * 1.14)

Traceable fixed expenses for West = $225,000 ($196,000 + 29,000)

Contribution format income statement segmented by divisions:

                                               Company        East         Central         West

Sales                                    $ 1,574,200  $350,000  $620,000  $604,200

Variable expenses                   655,500     154,000      241,800    259,700

Contribution margin                  918,700  $196,000   $378,200  $344,500

Traceable fixed expenses        848,000   294,000    329,000    225,000

Non-traceable fixed expenses 110,000

Net operating income (loss) $ (39,300)  $(98,000)    $49,200   $119,500

Decrease in net operating loss = $45,200 ($84,500 - 39,300)

5 0
2 years ago
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