Please create ERDs for the following two examples and have them ready to upload. Please show cardinality for each one:

Fields Cutlery, a manufacturer of gourmet knife sets, produced 20,000 sets and sold 23,000 units during the current year. Beginn

Basile [38]

Answer:

d. $429,000

Explanation:

This can be obtained by preparing an income statement under variable costing. The income statement under variable costing deduct variable costs from the sales revenue to obtain contribution margin firs before deducting fixed costs in order to obtain net income. The income statement under variable costing can therefore be prepared as follows:

Fields Cutlery

Income Statement (Variable Costing)

For the Year End

Particulars $

Sales (23,000 × $45) 1,035,000

Variable cost:

Direct materials ($12 * 23,000) (276,000)

Direct labor ($3 * 23,000) (69,000)

Variable Overhead ($2 * 23,000) (46,000)

Selling $ admin exp (60% * $115,000) (69,000)

Contribution margin 575,000

Fixed cost:

Fixed overhead ($5 * 20,000) (100,000)

Selling $ admin exp (40% * $115,000) (46,000)

Net income 429,000

Note:

1. The variable cost is computed using the 23,000 units sold because the variable cost of the opening 3,000 units from the previous year has to be added to the variable cost of the 20,000 units produced this year. This is to obtain the total variable costs for the 23,000 units sold since variable cost varies with units.

2. The Fixed overhead is computed using the 20,000 units produced this year. This is because the total fixed cost does not change as units of production changes. The Fixed overhead of $5 per unit was actually arrived at by dividing $100,000 by 20,000 units. This Fixed overhead was also $100,000 previous year as it remains constant every year.

7 0

4 years ago

Land costing $71,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On t

Nataliya [291]

Answer:

c. $50,000

Explanation:

The investing activities of cash flow deals with the actual cash received/paid by the entity/corporation from the investing activities. Since in the given question, the actual cash received by the entity from the sale of lands amounts to $50,000, therefore the $50,000 shall be included in the investing activity section of the Cash flows from the sale of land and accordingly the answer shall be c. $50,000

4 0

3 years ago

Which of the following are examples of companies operating a globalized world? Check all that apply

Wewaii [24]

Answer:

A. San Francisco-based Airbnb used #OneLessStranger to spark an international social media campaign in which it asked its community of customers to perform random acts of hospitality for strangers, then share a video or photo of themselves with the person they helped.

B. Dunkin' Donuts serves dry pork and seaweed donuts in China and grapefruit donuts in Korea.

C. Austria's Red Bull sponsors extreme sports events across Europe, North and South America, and Asia, making its drinks feel like a local presence while the company maintains a European look to its packaging.

Explanation:

Globalization is the distribution throughout national boundaries and traditions of goods, technology, knowledge and employment. This defines in terms of economics an inter-connectivity of countries across the globe that is promoted by free trade.

This seeks to support consumer economies worldwide by rendering markets more effective, increasing competition, reducing military conflicts, and more evenly distributing wealth. While the impoverished and the rich benefit from globalism in the median developing economy, it often has little impact on the incomes of the needy in many developed economies. Yet government actions are important in making globalization's advantages more comprehensive.

8 0

3 years ago

With reference to product development, a _____ is defined as a set of systems and interfaces that form a common structure.

Gre4nikov [31]

Answer: product platform

Explanation: A product platform could be defined as a collection elements or specifications which may include design, pattern, formular, component or a certain technology adopted for building a certain product series. A product platform is aimed at increasing the speed and rate at which a certain product is produced, added flexibility in situations where little adjustment is required, cost effectiveness as it requures little upgrade in making new products and lessens developmental cost.

6 0

3 years ago

Copyright law contains an exception known as ______, which provides for a limited set of circumstances where others can use port

BARSIC [14]

Copyright law contains an exception known as fair use which provides for a limited set of circumstances where others can use portions of copyrighted material without first obtaining permission.

<h3>What is copyright law?</h3>

It should be noted that copyright law simply means a law that grants the holder the control over the production and distribution of a material.

In this case, copyright law contains an exception known as fair use which provides for a limited set of circumstances where others can use portions of copyrighted material without first obtaining permission.

Learn more about copyright on:

brainly.com/question/1282084

#SPJ1

3 0

2 years ago