If you hold a job for a long time, if or when you choose to leave that job your employer will put in a good word for your next job it will also look good for you that you are able to hold a job for a lnog period time so your next employer wont be scared that you would get up in leave after a month
Answer:
a. Events that will affect the income statement are :
- Part c
- Part d
b. Income statement that shows the results of Year 1 operations.
Revenue Earned $59,000
Less Expenses :
Expenses ($43,000)
Net Income / (Loss) $16,000
Explanation:
The Income Statement shows the Profit or Loss that resulted during the reporting period.
Only items of Revenue/Income and Revenue Expenditures (Expenses) are accounted for in Income Statement.
Profit or Loss = Sales <em>less</em> Expenses
Answer:
$6.25 per yard
Explanation:
The computation of the standard price per yard of material for its safety suits is shown below:
Material quantity variance = Standard Price × (Actual quantity - Standard quantity)
-$5,000 = Standard price × (10,000 - 10,800)
Standard price = -$5,000 ÷ (-800)
= $6.25 per yard
Hence, the standard price per yard of material for its safety suits is $6.25 per yard
Answer:
90 suits per week must be produced and sold to achieve the maximum profit of $2,850.
Explanation:
The profit function is given by the revenue function minus the cost function:
The number of suits, x, for which the derivate of the profit funtion is zero, is the production volume that maximizes profit:
The profit generated by producing 90 suits is:
Therefore, 90 suits per week must be produced and sold to achieve the maximum profit of $2,850.
