All categories

3 years ago

The following information is available for Sunland Company:

Business

1 answer:

vladimir1956 [14]3 years ago

6 0

Answer:

Contribution margin= 250,000

Explanation:

Giving the following information:

Sales $590,000

Total fixed expenses $150,000

Cost of goods sold $390,000

Total variable expenses $340,000

A CVP income statements provides the following structure:

Sales= 590,000

Total variable costs= (340,000)

Contribution margin= 250,000

You might be interested in

Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $250,000; Patents and copyrights = $720

spayn [35]

Answer:

Common stock balance= $1,039,000

Explanation:

A balance sheet can be described as a financial statement that presents the assets, liabilities and shareholders' equity of a company.

Common stock refers to the security such shares that represents ownership in a company.

In order to determine the common stock account balance for Rogers Corp., its balance sheet is first prepared as follows:

Rogers Corp.

Balance Sheet

For the year 2018

Particulars $ $

Intangible Assets:

Patents and copyrights 720,000

Tangible Assets:

Net fixed assets 3,400,000

Current Assets:

Cash 250,000

Accounts receivable 129,000

Inventory 345,000

Total Current Assets 724,000

Current Liabilities:

Accounts payable (530,000)

Notes payable (190,000)

Working Capital 4,000

Long-term Liabilities:

Long-term debt (1,830,000)

Net Total Assets 2,294,000

Financed by:

Common stock (w.1) 1,039,000

Accumulated retained earnings 1,255,000

Owners' Equity 2,294,000

Workings:

w.1: Common stock balance = Net total assets - Accumulated retained earnings = $2,294,000 - $1,255,000 = $1,039,000

4 0

3 years ago

________ costs are costs that limit the occurrence of defects and imperfections. prevention failure process assessment appraisal

ddd [48]

Process costs are costs that limit the occurrence of defects and imperfections. Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. ... It is a method of assigning costs to units of production in companies producing large quantities of homogeneous products.

7 0

3 years ago

Tamara is a Managerial Accountant at Everything New. Everything New manufactures furniture. Tamara purchased leather to be used

Murrr4er [49]

Answer:

B. Raw Materials

Explanation:

Raw materials are the basic components of manufacturing and production process in a goods manufacturing entity. Raw Materials are used in the production of a finished products (such as Crude Oil is a raw material for Petrol, Milk is a raw material for Yogurt, Yarn is a raw material for Garment whereas Petrol, Yogurt and Garment are the finished products).

Keeping in view the above discussion, the leather purchased by the Tamara, to be used on some of the furniture to be manufactured by the Everything New, shall be classified as Raw Materials.

Answer is B. Raw Materials

4 0

2 years ago

International Paper Company, MeadWestvaco, and Rubicon, Ltd. Work together and found ArborGen, a new biotechnology company that

Pachacha [2.7K]

Answer: Joint venture

Explanation: A joint venture can be defined as a business entity, that is created by two or more firms by shared ownership or sharing in risk and returns. The joint venture is usually done by the firms for targeting new emerging markets to increase their customer base.

In the given case, Arboren is a new company and is formed by the joint ownership of three existing firms.

Hence, from the above we can conclude that this is an example of Joint venture.

4 0

3 years ago

Suppose two firms are in a game situation, and they each must decide on a strategy regarding whether to select a high price or

swat32

Answer: Both to select low prices.

Explanation:

One of the vital goal of doing business is profit irrespective of the firm. Every business has to deal with funds and when funds is involved profit has to be made even while serving the client in satisfying conditions. The profit enables the firm to be ran smoothly; it's operations and have a reason to be said that their in business. Every firm ooks out for opportunities to make rofit while giving their best. According to the paragraph profits are high when the price of the commodity is reduced, each firm will reduce it's pricing to ensure they make profit.

4 0

3 years ago