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Mars2501 [29]
3 years ago
11

Amanda Manufacturing Company prepared the following static budget income statement: Revenues $ 125,000 Variable Costs (75,000) C

ontribution Margin 50,000 Fixed Costs (30,000) Net Income $ 20,000 The budgeted costs were based on a planned sales volume of 5,000 units. Actual production was 6,000 units. The amount of net income based on a flexible budget of 6,000 units would have been
Business
1 answer:
Evgesh-ka [11]3 years ago
7 0

Answer:

Based on Flexible Budget Net income is = $30000

Explanation:

First we need to find contribution margin per unit based on static budget

Contribution margin per unit =  Total Contribution Margin / Units Volume

Contribution Margin Per Unit = $50000 / 5000 = $10 Per unit

Now using contribution per Unit we can find total contribution at flexible budget.

Total Contribution margin at flexible budget = Contribution Margin Per Unit x Flexible budget units

Total Contribution Margin = $10 x 6000 Units = $60000

Using Total contribution margin less total fixed cost we can get operating income of flexible budget.

Operating income = Total contribution Margin - Total Fixed cost

Operating income = $60000 - $30000 = $30000

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Equity securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses are Group
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Answer

Associate: where a company has holdings of between 20% and 50%.

Minority Interest: where a company has holdings of less than 20%

Parent Company: where a company has holdings of more than 50%.

Explanation:

<u>An associate company </u>(or associate) is a company that owns a business beyond 20% and not more than 50%. In business valuation such a company that has invested significantly in the shares of another company will have voting rights in the board of the acquired company.

<u>Minority Interest</u> is the term used to describe the investments of one company in another company, when such investments are less than 20% of the total value of the acquired company.

<u>Parent Company</u> is a company that owns more than half (50%) of the shares or value of another company.

4 0
3 years ago
When Kira graduated with a degree in computer science, she started her software company. On her first day of operations, she pos
kobusy [5.1K]

Answer:

Her expectation that all her employees would adhere to the laws applicable to the business

Explanation:

By adhering to the laws applicable to her business, and expecting that her employees would follow suit, helped to protect the business from the liability related to breaching laws. Moreover, operating within the legal requirements serves as the first step towards operating as an ethical firm.  

7 0
3 years ago
_____ do much of the actual work to prepare for cases and are heavily relied upon by lawyers and law firms.
olganol [36]
The correct answer is A) Paralegals. Hope this helps.
4 0
3 years ago
Automobile insurance companies have a problem with people who buy insurance and then drive recklessly or take less care to avoid
Sergio039 [100]
I think the proper term is "moral hazard"
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3 years ago
True or false: No gain or loss is reported when treasury stock is reissued because GAAP does not consider transactions between a
Likurg_2 [28]

Answer:

The statement is:  True.

Explanation:

When a firm purchases its own shares they become part of the company's treasury stock. This usually happens when the organization intends to sell those shares in the future. According to the General Accepted Accounting Principles (<em>GAAP</em>), the transactions between a firm and its owners are not considered as profit-making. Thus, when a company reissues the treasury stock shares no revenues or losses are recorded.

6 0
3 years ago
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