Answer:
None of the fixed costs are avoidable. Therefore the company now loses all the fixed costs and the positive contribution margin.
Explanation:
Giving the following information:
Wood Aluminum Hard Rubber
Total Sales $65000
Variable expenses (58000)
Contribution margin 7000
Fixed expenses (22000)
Net income (loss) (15000)
Effect on income= -22,000 - 7,000= -29,000
None of the fixed costs are avoidable. Therefore the company now loses all the fixed costs and the positive contribution margin.
Answer: $7600
Explanation:
The amount that Park should report as a foreign exchange gain in its income statement for the year ended December 31, 20X1 will be $7600.
We should note that when we want to determine the net income for a particular period, the translatation adjustments will not be included. Therefore the $8100 gain won't be included in the calculation. Hence, Park should report only $7600 gain.
Answer:
$20,665
Explanation:
The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items. These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.
To reconcile the two balance moving from the bank statement balance to the cash account balance;
The amount of outstanding checks on Harris Company's June bank reconciliation is the net to amount of checks cleared and the total of checks written. This amount
= $4,948 + $41,405 - $25,688
= $20,665
The Company's customers of $348 was also returned marked "NSF is a part of the outstanding checks.
Answer:
the present value is $4,286.69
Explanation:
The computation of the sum received today is shown below:
As we know that
Present value = Future value ÷ (1+rate of interest)^number of years
= $5,000 ÷ (1 + 0.08)^2
= $5,000 ÷ 1.1664
= $4,286.69
hence, the present value is $4,286.69
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
Option A is correct one.
<u>Are more summarised than for lower levels of management</u>
Explanation:
For higher levels of management, responsibility accounting reports<u> are more summarised than for lower levels of management.</u>
It is a summarised report facilitating the higher levels of management in order to keep a track of performance of low level management.
