Answer and Explanation:
The preparation of the multiple-step income statement is shown below:
Net Sales $2,415,700
Less: Cost of goods sold $1,314,300
Gross profit $1,101,400
Less: Operating expense -$736070
Operating income $365,330
Other revenue
Add: Interest revenue $31,590
Other expense
Interest expense $74,650
Loss on disposal of plant assets $18,990 $93,640 -$62,050
Net income $303,280
Answer:
Straight-line = $3,900
Double Declining Method = $7,800
Activity Based = $3,600
Explanation:
1. Straight-line.
Depreciation Expense = (Cost of Asset - Salvage Value) / Useful Life
= $43,000 - $4,000 / 10
= $3,900
2. Double Declining Method
Deprectiation Expense = (2 x (Cost of Asset - Salvage Value)) / Useful Life
= 2 x ($43,000 - $4,000) / 10
= (2 x $39,000 ) / 10
= $78,000 / 10
= $7,800
3. Activity Based
Depreciation Expense = (Cost of Asset - Salvage Value) x Activity Peformed / Estimated Lifetime Acitity
= ($43,000 - $4,000) x 1,200 hours / 13,000 hours
= $39,000 x 1,200 / 13,000
= $3,600
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Answer:
Promotion
Explanation:
A marketing rep must also contemplate where and how his concept is delivered to consumers. This phenomenon is known as product promotion.
This concept refers to the spread of information regarding the product to the targeted buyers with the intent that it would increase the sales.
It also triggers the demand in the customers or creates a need that might not exists before, which would eventually increase the overall sales of the product.
