Pension expense of Harvey Hotels in its income statement for the year= <u>$9.7 million
</u>.
<u>Explanation</u>:
Service cost= $7.3 million
Interest cost= $2.5 million
Amortization of prior service cost= $2.2 million
Expected return on plan assets= $2.3 million
Pension expense=?
Pension expense is decreased by amortization of net gain.
Pension expense= (Service cost+ Interest cost- Expected return on plan assets+ Amortization of prior service cost
= (7.3+2.5+2.2)-2.3
= 9.7 million
Pension expense of Harvey Hotels in its income statement for the year= $9.7 million
Answer:
The correct answer is letter "B": They both are based on the same per unit variable amounts and the same fixed costs.
Explanation:
Static budgets are estimates that use the same fixed cost amounts, while flexible budgets change the number of fixed costs at different levels of production. However, both of them use the same per unit variable amounts as well as the same fixed costs in the manufacturing process.
This year on the first Saturday of December, falling on December 4 this year
It is a true statement that Formal Communication follows the practices shaped by the organization through official policies, hierarchy, and technology systems
<h3>What is a
Formal Communication?</h3>
This refers to the flow of an official information through a proper and predefined channels and routes in a firm.
Most times, its follows the practices shaped by the organization through official policies, hierarchy, and technology systems.
Read more about Formal Communication
<em>brainly.com/question/20709778</em>
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