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3 years ago

Managerial accounting information is generally prepared for

1 answer:

8 0

Internal users, business or organizational managers to help them make decisions in managing the business, often using cost accounting.

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On December 31, 2021, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor busin

Hunter-Best [27]

Answer and Explanation:

The preparation of the lower portion is presented below:

Income from the continuing operation

before income tax $7,800,000

Less: Income tax expenses ($7,800,000 × 25%) (1,950,000)

Income from continuing operation(A) 5,850,000

Discontinued operation:

Loss from operation discontinued components

($15 - $13 - $4.8) ($2,800,000)

Income tax benefits ($2,800,000 × 25%) $700,000

Loss on discontinued operation(B) ($21,000,000)

Net loss (A - B) -$15,150,000

7 0

3 years ago

During the second quarter of the year, Wallace Enterprises received $30,000 from customers in exchange for providing electronic

SSSSS [86.1K]

Answer:

On an income statement, the company would declare c. $21,000 expenses

Explanation:

Wallace Enterprises received $30,000 from customers in exchange for providing electronic components. Income from the exchange was $30,000

During the second quarter of the year, total expense = supplies expense + interest expenses + wages expense = $5,000 + $1,000 + $15,000 = $21,000

Income from the exchange - total expense = $30,000 - $21,000 = $9,000>0

The company recognizes gain $9,000.

On an income statement, the company would declare $21,000 expenses

5 0

3 years ago

What are the set of rules that people need to follow while communicating at the workplace called?

Alex777 [14]

Code of conduct. This is a set of rules that everyone is expected to know and follow to the fullest extent.

7 0

3 years ago

Read 2 more answers

Susan orders five table settings of china from bone china. each set includes a dinner plate, cup & saucer, bowl, and dessert

lianna [129]

No, she can’t do that because the person who ordered the table settings paid for what they were supposed to send so she needs to of sent them if not that’s false advertising.

6 0

3 years ago

MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.

ruslelena [56]

Answer:

Direct Materials Purchases Budget Sept 51680 October 60160

Direct labor Budget September 54600 October 66150

Overhead Budget Sept $ 20920 October $23,230

Explanation:

The budgets are calculated in the following ways.

We multiply the required material , direct labor hour or variable overhead rate with the given number of units and then with the cost per unit to get the total costs.

MCO Leather Goods Manufacturers

Direct Materials

Purchases Budget

September October November

Production 5200 6300 6100

Pounds per units * 2 *2 *2

Total Pounds 10400 12600 12200

Cost per pound * $4 * $4 *$4

Total cost 41600 50400 48800

On hand

Inventory + 10080 + 9760 ---

Direct Materials

Purchases Budget 51680 60160

MCO Leather Goods Manufacturers

Direct Labor Budget

September October

Production 5200 6300

Hours required per unit * 0.7 *0.7

Total hours 3640 4410

Rate per hour * $15 *$15

Total labor Cost 54600 66150

MCO Leather Goods Manufacturers

Factory Overhead Budget

September October

Production 5200 6300

Hours required per unit * 0.7 * 0.7

Labor Hours 3640 4410

Variable OH * $3 *$3

Variable Costs $10920 $13230

Fixed OH + $10,000 +$10,000

Total OH $ 20920 $23,230

8 0

3 years ago