Answer:
$47,000
Explanation:
Cedar Grove Industries CVP Income Statement for Month Ending May, 2017
Total Per Unit
Sales ($49×7,600) $372,400 49
Less Variable Cost
($28×7,300) $204,400 28
Contribution Margin $168,000 21
Less Fixed Cost$121,000
Net Income (loss)$47,000
You get tax returns and sometimes the taxes go down
Answer:
D. Motor lorry for delivery of goods
Explanation:
Business assets are valuable used to generate revenue for the business. Assets can be classified as either current or fixed assets. Currents assets can be converted to cash with relative ease.
Fixed assets have a lifespan exceeding one year. Usually, a business will not dispose of its fixed assets in the current financial period. Fixed assets remain constant in a period and are used in the production process.
From the list provided, lorry is the fixed asset. It is being used to deliver goods, hence assisting in generating revenue. The lorry has a lifespan exceeding one year and is not meant for sale.
Answer:
$88.88 or $89 (Approx)
Explanation:
Each point is equal to the 1 percent so, 2 points is equal to the 2%.
Amount of points paid = Borrowed amount × Points percentage
= $400,000 × 2%
= $8,000
Total number of months = Year × Months in a year
= 30 × 12
= 360
Number of months in the deduction year = September to December
= 4
Amount of deduction:
= (Amount of points paid ÷ Total number of months) × Number of months in the deduction year
= ($8,000 ÷ 360) × 4
= $32,000 ÷ 360
= $88.88 or $89 (Approx)
