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USPshnik [31]
2 years ago
11

Variable and Absorption Costing-Service Company Jensen's Tailoring provides custom tailoring services. After the company's first

year of operations, its owner prepared the following summarized data report for 2016
Sales (500 completed jobs)$150,000
Tailoring costs (550 jobs)
Direct labor70,500
Manufacturing overhead
Variable18,000
Fixed13,500
Operating expenses
Variable8,400
Fixed8,700

Required:
Prepare an income statement based on full absorption costing
Business
1 answer:
loris [4]2 years ago
5 0

Answer:

124

Explanation:

Yes

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In early January 2019, Blue Corporation applied for a trade name, incurring legal costs of $15,400. In January 2020, Blue incurr
Andrew [12]

Answer:

2019 Amortization =$1,540

2019 Book Value=$13,860

2019 Amortization =$2,440

2019 Book Value=$19,520

Explanation:

Computation for 2019 amortization, 12/31/19 book value, 2020 amortization, and 12/31/20 book value if the company amortizes the trade name over 10 years.

Calculation for 2019 Amortization (15,400 ÷ 10)

= 1,540

Calculation for Book Value of December 31, 2019

= 15,400 – 1,540

= 13,860

Calculation for 2020 Amortization will be:

(13,860 + legal fees 8,100) ÷ 9)

= 21,960÷9

= 2,440

Calculation for the Book Value of December 31, 2020

13,860 -2,440

=11,420

= 11,420+8,100

=$19,520

6 0
2 years ago
He customers for mountain sports equipment mostly have high disposable incomes. However, imagine that Peter, Thomas, and Wim wan
mel-nik [20]

I would give them advice :

a. Assign R&D the project of developing gear that meets basic needs for warmth and dryness but can be manufactured inexpensively.

c. Research what people with annual incomes of less than US $1,500 really need.

d. Recruit local people to work as salespeople and distributors.

Explanation:

A disposable income is the total of cash household funds available for expenditures and investments after tax on income is accountable. The disposable income also called disposable personal income (DPI).

The figures suggest that Switzerland has almost double that of United States ($3.258) the highest taxable monthly income ($6,301).

The $100 remaining in your savings fund after all the debts have been charged is an example of disposable income.

3 0
3 years ago
Last year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following b
viktelen [127]

Answer:

Average receivables = $157,500,000

Explanation:

<em>Account receivable represent the amount of credit made by a business which remain uncollected as at the reporting date. In other words, they represent the amount that customers are owing the business in respect of credit sales.</em>

Average account receivables

=(opening balance + closing balance)/2

=( $142,650,000 + $172,350,000)/2

= 157,500,000.

6 0
3 years ago
Assume the world market for oil is competitive and that the marginal cost of producing​ (extracting and bringing to​ market) ano
xz_007 [3.2K]

Answer:

The economic surplus will decrease by $2.20

Explanation:

$81.40 and $79.20 are <em>marginal </em>cost and benefit, which are the changes to total costs and total benefits due to producing and consuming one additional barrel of oil.

They can be used to calculate <em>change </em>to economic surplus, which is the change to the net economic value received by society, which is given by:

marginal benefit - marginal cost = $79.20 - $81.40 = - $2.20

7 0
3 years ago
"I don't understand why you're afraid to commit to this new ad program," said Barry, sales representative of a popular radio sta
Ahat [919]

In this scenario, Barry would be classified as a(n) <u>A. aggressive</u> salesperson.

<u>Explanation</u>:

Barry works for a popular radio station as a sales representative. From his conversation in the above scenario it is clear that Barry is an aggressive salesperson.

One day Barry was discussing with the marketing manager of a larger retail store regarding their new ad program. Barry was clear that the ad will be broadcasted around the clock all over the town if they agree with their radio station. He told that the ad will be aired day after tomorrow if the manager is ready to sign today.

5 0
3 years ago
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