Note:
I wasn't able to access the Chester Income Statement but I successfully accessed a similar question Digby.
The Complete Question is as under:
Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Digby has obtained a productivity index of 109.6%. This means that Digby's labor costs would be increased by 9.6% if it did not have these productivity improvements. This is a competitive advantage that Digby can sustain or even widen further if its competitors have no HR initiatives. Now, refer to the Income Statement in Digby's Annual Report. How much did Digby's productivity improvements save it in direct labor costs (in thousands) last year?
A. $766
B. $29818
C. $3137
D. $3211
Answer:
Option D. $3,137
Explanation:
The Productivity Index of 9.6% shows that if the improvement plan is implemented then the efficiency gains would result in saving of 9.6% of total direct cost. So if we total the direct cost for the year for all of the four products then we have an amount of $32,680 which is given at the second last column.
The amount saved last year would be:
Savings = $32,680 * 9.6% = $3,137
Hence the option C is correct here.
Answer:
An expense account normally has a debit balance.
Answer:
<u>D. Happenstance.</u>
Explanation:
The fact that German firms were nationalized has often been regarded as mere happenstance; meaning it just occurred based on the circumstances they were in immediately after World War II.
It thus encompasses several factors such as the cost of operations, changes in government, etc, not just one factor.
Answer:
patent on the consolidated estament: 32,000
Explanation:
45,000 x 80% = 36,000
36,000 / 9 = 4,000 amortization per year
patent of Grand heaven
<u> debit credit </u>
36,000 recognize at purchase
4,000 december 31th amortization
32,000 balance.
Answer:
Cost of Goods Sold = $ 400,000
Explanation:
Units Sold = $360,000/ $225= 1600
Sales $360,000
Direct materials $176,000
Direct labor $100,000
Variable factory overhead $44,000
Fixed factory overhead $80,000
Total Manufacturing Costs $ 400,000
Variable selling and administrative expenses $20,000
Fixed selling and administrative expenses $10,000
Cost of Goods Sold = $ 400,000
As ending Inventory Finished Goods is 400 units it is not included in the Cost of Goods Sold.
