Which of these changes are planned and based on situations that are expected to arise?

Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,800,000 shares issued; Additional Paid-i

Fittoniya [83]

Answer:

Total Stockholder's Equity is $26,276,000.

Explanation:

Stockholders’ equity section of the balance sheet

Common Stock @ $1 $1,800,000

Additional Paid-in Capital, $1,6200,000

Retained Earnings, $9200,000

Less: Treasury Stock $924,000

Total Shareholders Equity $26,276,000

As treasury stock is the contra equity account so its value will be deducted from equity. So total Stockholder's Equity is $26,276,000.

6 0

4 years ago

Maher Corporation, which has only one product, has provided the following data concerning its most recent month of operations: S

timofeeve [1]

Solution and Explanation:

1. assuming the firm using the varibale costing

Calculation of unit cost under variable costing

Direct material = 49

Direct labor = 53

Variable manufacturing overhead = 8

UNIT PRODUCT COST = 110

2. Assuming company using absorption costing

Calculation of unit cost under absorption costing

Direct material = 49

Direct labor = 53

Variable manufacturing overhead = 8

Fixed manufacturing overhead ( 113250 divide 3440) = 33

UNIT PRODUCT COST = 143

Variable costing income statement

Sales 594660

Less: variable expense

variable COGS 349800

Variable seeling expense 60420

Total variable expense 410220

Total contribution margin 184440

Less: fixed expense

Fixed manufacturing overhead 113520

Fixed selling and admin exp 9540

Total fixd expense 123060

Net opertaing income (Loss) 61380

Income statement under absorption costing

Sales 594660

COGS 454740

Gross margin 139920

Selling and admin expense

Variable = 60420

Fixed = 9540

net operating income 69960

recncociliation of varibale costing and absorption costing net operating income

Variable costing net operating income 61380

Add: Fixd manufacturing overheads defered in inventory under absorption costing 8580

Absorption costing Net operating income (Loss) 69960

5 0

4 years ago

A. A plan for mass casualty incidents should include protective actions to reduce vulnerabilities, response actions to minimize

DedPeter [7]

Answer: When an organization is planning for mass casualty incidents, an effective approach is to request law enforcement personnel to develop a separate plan for mass casualty incidents for the organization

Explanation:

A Mass Casualty Incident refers to an overwhelming event, which leads to more patients at a time than what the available resources can easily manage such that it requires additional assistance.

A plan for mass casualty incidents should include protective actions that will be used to reduce vulnerabilities, response actions to minimize negative consequences, and post incident actions to promote community recovery.

A partnership approach to planning for mass casualty incidents is important as it helps in ensuring that the plans for your organization are compatible with those of the agencies that would respond if an incident occurred.

It's also vital to customize your emergency plan to reflect the risks, realities, and resources that characterize the local area and your own organization.

The false statement is "When an organization is planning for mass casualty incidents, an effective approach is to request law enforcement personnel to develop a separate plan for mass casualty incidents for the organization". This isn't true.

5 0

3 years ago

Importers' bank usually issues a ________ to importers in international transactions.

Nezavi [6.7K]

Importers' bank usually issues a letter of credit to importers in international transactions.

A letter of credit is issued by a bank, most common from another country, to guarantee the payment to be made under agreeable circumstances. This is a way to ensure and product the two people doing business that one will get the items and one will be paid for them.

8 0

4 years ago

MC Qu. 99 The Work in Process Inventory account... The Work in Process Inventory account of a manufacturing company that uses an

Vikki [24]

Answer:

202%

Explanation:

Calculation to determine what the company's overhead application rate is

First step is to calculate the Total manufacturing overhead using this formula

Total manufacturing overhead = Overhead rate - Direct material cost - Direct labor cost

Let plug in the formula

Total manufacturing overhead =5220 - 2,200 - 1000

Total manufacturing overhead =2020

Now let determine the overhead application rate using this formula

Overhead application rate=Total manufacturing overhead/Direct labor cost

Let plug in the formula

Overhead application rate=2020/1000*100

Overhead application rate=202%

Therefore, the company's overhead application rate is:202%

4 0

3 years ago