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3 years ago

A list of Year 3 revenues and expenses for Green Thumb, Inc. is provided below.

Business

1 answer:

jolli1 [7]3 years ago

8 0

Answer:

a. Green Thumb

Net Income for the year 3

Particulars Amount

Sales revenue $1,871,300

Operating expenses

Advertising expense $263,700

Salaries and wages expense $726,000

Other selling expenses $352,000

Other expenses $123,600 $1,465,300

Earnings before interest and taxes $406,000

Interest expense $44,020

Earnings before taxes $361,980

Income tax expense $56,620

Net Income $305,360

b. Green Thumb Inc.

Statement of retained earnings

For the year ended Dec 31, Year 3

Retained Earnings, Jan 1 year 3 $163,200

Add: Net Income $305,360

Less: Dividend paid $46,120

Retained Earnings, Dec 31 year 3 $422,440

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babymother [125]

The correct Option is D. OLAP is an example of a Predictive type of analytics.

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1 year ago

Bob, a salesperson at a Carpets Galore store, tells Dita, a customer, "Buy your carpet here, and I'll install it for half of wha

monitta

Answer:

Duty of Loyalty

Explanation:

The duty of loyalty, described as a duty, is the duty of a person to act in the best interests of their company, which is not to waste when the individual sees corporate opportunities for their personal benefit, avoid personal interest in transactions between the company and other parties, and keep company information private. .
The duty of loyalty that can be seen when Bata engages himself in an interested transaction for the sale of the carpet.

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3 years ago

The additional benefit of producing one more roast beef sandwich at a local deli is $2. The additional cost of producing one mor

tigry1 [53]

First, we take into account the benefit and cost given in the problem. The benefit, which is $2 is a dollar lesser compared to the cost that would be incurred should the business opt to produce one more roast beef. This, of course, tells us that an additional roast beef will just impose an additional $1 cost. Thus, the answer should be the last choice.

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3 years ago

Variable costs as a percentage of sales for Lemon Inc. are 71%, current sales are $551,000, and fixed costs are $207,000. How mu

MAVERICK [17]

Answer: a.$10,904 increase

Explanation:

Operating income before sales increase:

= Sales - Variable costs - Fixed costs

= 551,000 - (71% * 551,000) - 207,000

= -$47,210

Operating income after sales increase:

Sales increases to:

= 551,000 + 37,600

= $588,600

= 588,600 - (71% * 588,600) - 207,000

= -$36,306

Difference:

= -47,210 - (-36,306)

= Increase of $10,904

7 0

3 years ago

Martinez Manufacturing applies overhead based on direct labor hours. The company estimates that their overhead for the year will

aev [14]

Answer:

The correct answer is C: underapplied by $2,500

Explanation:

Giving the following information:

Martinez Manufacturing applies overhead based on direct labor hours.

The company estimates that their overhead for the year will be $180,000 and that they will use 72,000 direct labor hours.

During the year, Martinez Manufacturing used 75,000 direct labor hours and actual overhead costs were $190,000

We need to calculate if the overhead was under or over applied and in what amount.

Predetermined overhead rate= total estimated manufacturing overhead for the period/ total amount of allocation base

Predetermined overhead rate= 180000/72000= $2.5 an hour

Now, we can calculate the amount of overhead allocated:

Overhead allocated= 75000 hours*2.5= $187,500

Over/under applied= actual overhead - allocated overhead= 190,000 - 185,500= $2,500 underapplied

7 0

3 years ago