Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations:
Variable costs per unit:
Manufacturing:
Direct materials $ 6
Direct labor $ 9
Variable manufacturing overhead $ 3
Variable selling and administrative $ 4
Fixed costs per year:
Fixed manufacturing overhead $ 300.000
Fixed selling and administrative $ 190.000
During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.
The four steps of writing an income declaration are: to identify sources of sales, in addition to profits from investments, for an instance pick out business enterprise prices and losses incurred over the same period. Consolidate sales, charges, profits, and losses by means of category, payee, or some other factor.
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Answer:
Explanation:
Provide music lessons to students for 10,500 cash.
Dr Cash 10,500
Cr Sales 10,500
Being cash sales made
Purchase prepaid insurance to protect musical equipment over the next year for $4,000 cash.
Dr Prepaid Insurance account 4,000
Cr Cash 4,000
Being payment for the prepaid insurance
Purchase musical equipment for $17,000 cash.
Dr Equipment (asset) account 17,000
CR Cash 17,000
Being purchase of equipment
Obtain a loan from a bank by signing a note for $39,000.
Dr Cash 39,000
Cr Loan note (liability) 39,000
Answer: D.) not requested by the audience
Explanation: An unsolicited proposal simply means a proposal which is not based on request by the audience or the company it is being addressed to. It involves a written application aimed at obtaining a contract or work placement in an agency when such agency or organization without any formal request or call for application by the agency or organization. Unsolicited proposal are usually written in other to inform an agency that the writer is capable of offering solution to a problem within the agency or industry using his or own innovative idea.
Answer:
Option D
To me, I think option D is the most preferred answer
Answer:
$405,000
Explanation:
The calculation of total amount is shown below:-
If the company disposes of the equipment to buy the new equipment, the sunk cost will be the old equipment's book value.
Sunk cost = Book value of the old Equipment
Sunk cost = Cost of equipment - Accumulated Depreciation
= $550,000 - $145,000
= $405,000
Therefore for computing the sunk cost we simply deduct the accumulated Depreciation from cost of equipment