Answer:
Part a
contribution format income statement
Sales $1,643,400
Less Variable Costs ($1,145,400)
Contribution $498,000
Less Fixed Costs ($415,000)
Net Income (Loss) $83,000
Part b
6.00
Part c
See explanation
Part d
See explanation
Explanation:
Contribution Income Statement separates variable costs and fixed costs as shown above.
Degree of operating leverage = Contribution ÷ Earnings Before Interest and Tax
= $498,000 ÷ $83,000
= 6.00
Part c and Part d
Since there is missing information related to these parts here are the explanations.
<u>The expected percentage increase in net operating income for next year.</u>
Calculated by multiplying the percentage change in sales by the degree of operating leverage.
<u>The expected total dollar net operating income for next year.</u>
Simply apply the expected percentage increase calculated in part c to the existing Net Profit
Answer: (D)
Explanation: Reports and financial statements prepared by accountants are useful tools to evaluate an organisation's liquidity,solvency and stability. It helps the general public and other stakeholders to get the required data and information needed for decision making.
The inflationary trends shows the relationship between demand and supply in an economy which will help management to implement the necessary steps that will enhance it's operations.
The balance of trade between 2 countries provides necessary details for decision makers on when and how to improve or manage exports and imports.
The people that is part of the labor force is option D: an auto mechanic
The best example of frictional unemployment is option D: a company moving to another state, leaving its workforce without jobs
The ways that the economy is affected when the unemployment rate goes up are option B and C:
- Sales tax rates go down.
- Less money is spent on investments.
The most likely result of incomes not rising as quickly as inflation is option B: The unemployment rate rises as more people look for jobs.
The way the standard of living in the United States generally changed over the past 100 years is option B: It has gotten much better.
<h3>What do the terms "labor force" and "work force" mean?</h3>
The labor force is the whole population that is actively seeking employment. It is measured in terms of the number of days and is independent of wage rates. The workforce is the total number of people who are really employed.
Short-term unemployment includes frictional unemployment. When someone actively seeks a job or a new career, they are said to be in a frictional state of unemployment. Unemployment that is only intermittent isn't always a terrible thing. In fact, since it's voluntary, frictional unemployment may be a sign of a strong economy.
Hence, the term "workforce" or "labor force" refers to the group of people who are either employed or unemployed and an auto mechanic is a good example of it.
Learn more about labor force from
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The choices were; a. informal, b. chronological, c. serialized, d.conversational, e. solicited.
The answer is, e. solicited.
A solicited letter is written by the job hunter to the employer. It indicates the kind of working position the job hunter is applying for and also how she/he had learned there is a job opening in that position.
The employer gets a specific idea on the job hunter's intention and also learn that the ads or announcement reached them.
Answer:The up-to-date ending cash balance on October 31 is: $8,290---C
Explanation:
A bank Reconciliation statement helps to match a company's book record to its bank record and adjust discrepancies, If any.
Here, the deposits in transit and outstanding checks fall under the bank's accounting records and will not be involved in the company's additions or deductions in the accounting book balance records.
Ending cash balance as per books = $7,000
Add:
Interest received from Bank = +$1,700
subtotal $8,700
Deduct
Bank Service charge = -$60
NSF check = -$350
Up-to-date ending cash balance = $8,290
