Answer:
$20 million
Explanation:
The computation of the ending inventory if FIFO is used
= LIFO reserve + Ending inventory based on LIFO inventory
= $3 million + $17 million
= $20 million
We simply added the LIFO reserve and LIFO ending inventory so that FIFO ending inventory can be computed. Hence, we take all the items for the computation part.
Answer: Inseperable
Explanation:
A haircut is a form of service offered to a customer, in which the customer and the barber must be present for the service to take place. This implies that in most cases services production and consumption cannot be seperated, because in most cases services cannot be stored.
Answer:
False.
Explanation:
A bank is said to be federally chartered when it is appropriately authorized and regulated by the federal government of a country with recourse to statutory laws but not the state government. Some examples of federally chartered banks are Wells Fargo Bank, Bank of England, Swiss National Bank, Citizen National Bank, Bank of Japan, PNC Bank, First National Bank, U.S. Bank, Reserve Bank of Australia, etc.
A credit union can be defined as a non-profit making financial cooperative that is typically controlled by its members (employees, church groups, labour unions etc) and it is saddled with the responsibility of providing financial services like the traditional banks.
Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.
Hence, federally chartered banks and credit unions are not run like businesses that are a profit i.e they are a non-profit business.
Answer:
(1) $1,230,000
(2) 110,000 customers
Explanation:
Given that,
Fixed cost = $451,000 per year
Average sales check per customer = $ 8.20
Average cost of food and other variable costs for each customer = $ 4.10
Income tax rate = 30%
Target net income = $114,800
(1) Contribution margin ratio:
= (Selling price - Variable price) ÷ Selling price
= ($ 8.20 - $ 4.10) ÷ $ 8.20
= 0.5
Income before tax:
= Net income ÷ (1 - Tax rate)
= $114,800 ÷ (1 - 0.3)
= $164,000
Desired revenue (dollars):
= (Fixed cost + Income before tax) ÷ Contribution margin ratio
= ($451,000 + $164,000) ÷ 0.5
= $1,230,000
(2) Customers are needed to break even:
= Fixed cost ÷ contribution per unit
= $451,000 ÷ ($8.20 - $4.10)
= $451,000 ÷ $4.10
= 110,000 customers
Answer:
a. is reduced to $5 per share
Explanation:
Data given in the question
Market value per share = $80
Number of shares = 100,000
Par value = $10
So, after the split, the par value of the stock is
= Par value of the stock ÷ stock split ratio
= $10 ÷ 2
= $5 per share
By dividing the par value of the stock by the stock split ratio we can get the par value of the stock
