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Angelina_Jolie [31]
3 years ago
10

Younie Corporation has two divisions: the South Division and the West Division. The corporation's net operating income is $90,10

0. The South Division's divisional segment margin is $48,800 and the West Division's divisional segment margin is $168,500. What is the amount of the common fixed expense not traceable to the individual divisions?a. $217,300b. $127,200c. $138,900
Business
1 answer:
lapo4ka [179]3 years ago
3 0

Answer:

b. $127,200

Explanation:

Both sales and variable cost are dependent on the number of units sold.

The sales less the variable cost gives the contribution margin. The contribution margin less the fixed cost gives the net operating income.

As such, the total fixed cost of the corporation not traceable to the individual divisions

= $168,500 + $48,800 - $90,100

= $127,200

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The following facts relate to Coronado Corporation.
elena-14-01-66 [18.8K]

Answer: See explanation

Explanation:

a. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020.

Debit Income Tax Expense $40400

Debit Defered Tax Asset $7070

Credit Income Tax Payable $19190

Credit Defered tax liability $28280

(To record income tax expense and defered tax/liability).

Note that:

Income Tax Expense was gotten as:

= $202,000 × 20%

= $202000 × 0.2

= $40,4000

Income Tax Payable was gotten as:

= $95,950 × 20%

= $95950 × 0.2

= $19,190

2. Prepare the income tax expense section of the income statement for 2020.

Income statement for year ended 31 December 2020

Income before tax = $202000

Less: Income Tax expense - Current = $19190

Less: Income Tax expense - Defered = $21210

Net income = $161600

6 0
2 years ago
If you are falling behind on your student loan payments, which of the following steps should you take to avoid default?
larisa86 [58]
The correct answer among all the other choices is "Contact your lender." If you are falling behind on your student loan payments, this is the step you should take to avoid default. Thank you for posting your question. I hope this answer helped you. Let me know if you need more help. 
7 0
3 years ago
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Which of the following accounts would not be included in the closing process at year-end?a) Rent expense.b) Additional paid-in c
hammer [34]

Answer:

b) Additional paid-in capital.

Explanation:

Closing process in accounting is a period end activities which involves

the movement or transfer of temporary accounts to permanent accounts.

Temporary accounts are all income statement accounts like sales account, rent account, depreciation expense account, telephone expense account e.t.c.

This exercise is to prepare temporary accounts for the next period.  since temporary accounts are measured as at period end, the transaction of a period must not be allowed to mix with another, hence the need to always close or bring to zero all temporary accounts.

In the question, all are income accounts except additional paid-in capital

3 0
2 years ago
Actual sales volume for a period is 5,000 units. Budgeted sales volume is 4,500. Actual selling price per unit is $15 and budget
dlinn [17]

If the actual sales volume is 5000 units,budgeted sales volume is 4500, actual selling price be $15 per unit and the budgeted price per unit be $15.75 per unit then the sales price variance is -$3750.

Given that actual sales volume is 5000 units,budgeted sales volume is 4500 units, actual selling price be $15 per unit and budgeted price per unit be $15.75 per unit.

We are required to find the sales price variance of the data.

Actual Sales volume = 5,000 units

Budgeted sales volume = 4,500

Actual selling price per unit = $15

Planned selling price = $15.75

So, calculation of the sales price variance is given below:-

Sales variance =Actual quantity sold × (actual selling price - planned selling price)

=5000*(15-15.75)

=5000*(-0.75)

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Hence if the actual sales volume is 5000 units,budgeted sales volume is 4500, actual selling price be $15 per unit and the budgeted price per unit be $15.75 then the sales price variance is -$3750.

Learn more about variance at brainly.com/question/15858152

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6 0
1 year ago
The actual inventory holding cost incurred by an item depends on how long it actually spends in inventory.
svlad2 [7]
True. <span>The actual inventory holding cost incurred by an item depends on how long it actually spends in inventory. Holding costs are costs that happen when the inventory stays put and does not sell. The costs are calculated into the inventory costs along side of ordering and shortage costs. Holding costs can include the goods being damaged or spoiling due to the length of being held. Since they can be held for 5 days or 100 days (example) the total cost that is held depends on the length the items were held for. </span>
5 0
2 years ago
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