1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sveta_85 [38]
3 years ago
9

Ace Electric's income statement reports Sales of $100,000; Cost of goods sold of $46,000, Operating expenses of $34,000, Interes

t expense of $15,000, Income tax expense of $2,000, and Net income of $3,000. If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by______________.
Business
1 answer:
sukhopar [10]3 years ago
3 0

Answer:

Total Sales

Explanation:

Vertical analysis is a financial statement analysis in which all the line items of any financial statements (income statement or balance sheet) are enlisted as a percentage of one main item. For income statement, the main item is total sales as the item starts with the total sales while for balance sheet, the main item is total assets as the summation of current and non-current assets conclude the total asset. Therefore, we need to give 100% for total sales if we analyse the ratio vertically.

You might be interested in
Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of
Gnoma [55]

Answer:

Estimated manufacturing overhead rate= $30.5 per direct labor hour

Explanation:

Giving the following information:

Direct labor-hours= 79,000 labor-hours.

The estimated variable manufacturing overhead was $11.90 per labor-hour and the estimated total fixed manufacturing overhead was $1,469,400.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (1,469,400/79,000) + 11.9= $30.5 per direct labor hour

3 0
3 years ago
Write the importance of professional education.​
My name is Ann [436]

Explanation:

The aim of education is to make a person intelligent enough to make decisions logically, knowledgeable enough to take up a right career path and skilled enough to be self-supportive. ... Getting a professional education is important for shaping your career to move towards a right direction.

5 0
3 years ago
Nadal Corporation manufactures custom molds for use in the extrusion industry. The company allocates manufacturing overhead base
Anna11 [10]

Answer:

C.$46,730

Explanation:

Nadal Corporation manufactures custom molds for use in the extrusion industry. Based on the data available we first see the formula to calculate the total manufacturing cost of the job 532.

In general, sum of all the cost directly or indirectly included in the manufacturing cost. Therefore the formula is as below

Total Manufacturing Cost = Direct Labor Cost + Direct Materials Cost + Manufacturing Overhead Cost.

Direct labor cost $36,800

Direct materials used $5,000

Predetermined manufacturing overhead rate based on machine hours $17  which is = $17 x 290 hours

Manufacturing cots= 4930$

Total Manufacturing Cost = 36800 + 5000 + 4930

Total Manufacturing Cost = 46,730$

3 0
3 years ago
Stanley Inc. must purchase $6,000,000 worth of service equipment and is weighing the merits of leasing the equipment or purchasi
slega [8]

Answer:

$207,215

Explanation:

Loan Payment :

5 years, Loan = $6,000,000, Interest rate = 10%, Each payment = $1,790,000

using a financial calculator, N = 5, 1/Y = 10%, PV = - 6,000,000, FV = 0,

Calculating, PMT = $1,582,725

Therefore, difference = $1,790,000 - $1,582,725 = $207,215

8 0
3 years ago
Which is not a task of the bankruptcy trustee?
klio [65]

Answer:

The option which is not a task of the bankruptcy trustee is;

Represent the debtor when meeting with creditors

Explanation:

In a case of bankruptcy a bankruptcy trustee is assigned by the court and to whom the case information is handed to perform the following tasks

1) Converts the collected company assets to money

2) Assess the creditors (owed by the debtor) proof of claims

3) Allocate monetary refunds to the creditors

4)  Upholds or refuse claimants to specific debts

5) Completes tax and other financial reports that are submitted to government agencies

3 0
2 years ago
Read 2 more answers
Other questions:
  • The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $146,035. The bank statement indicated a balance
    6·1 answer
  • A 30-year 7% corporate bond was issued exactly 10 years ago. You purchased this bond today, when it was trading to yield 9%. Tom
    7·2 answers
  • Suppose a basket of goods and services has been selected to calculate the consumer price index. In 2005, the basket of goods cos
    8·1 answer
  • Two voters, al and bill, are each choosing between one of three candidates—1, 2, and 3—who are running for city council. an expe
    12·1 answer
  • Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,053,000 shares of $10 par common
    15·1 answer
  • Attempts to build exporting opportunities abroad through better relationships with other countries is called protectionism.
    5·1 answer
  • On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 1/10, n/30. Flores uses
    7·1 answer
  • identify 3 challenges bricks construction may encounter when trying to implement their corporate social investment plan in the l
    11·1 answer
  • Which marketing metric measures the percentage of the target market that has been exposed to a promitonal message at least once
    8·1 answer
  • Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!