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kherson [118]
3 years ago
12

Brush Industries reports the following information for May: Sales $ 980,000 Fixed cost of goods sold 116,000 Variable cost of go

ods sold 266,000 Fixed selling and administrative costs 116,000 Variable selling and administrative costs 141,000 Calculate the operating income for May under absorption costing.
Business
1 answer:
Roman55 [17]3 years ago
8 0

Answer:

Net operating income= 341,000

Explanation:

We need to use the following structure:

Gross profit= sales - cost of goods sold

Net operating income= Gross profit - other expenses (variable and fixed)

<u>Under the absorption costing method, the cost of goods sold incorporates the fixed overhead.</u>

Sales= 980,000

COGS= (116,000 + 266,000)= (382,000)

Gross profit= 598,000

Fixed selling and administrative costs= (116,000)

Variable selling and administrative costs= (141,000)

Net operating income= 341,000

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Each of the following would be reported under operating activities except Select one: a. cash payments for interest expense. b.
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Answer:

cash receipts from sales of investments.

Explanation:

Operating activities are defined as activities that creates revenue and expenses in a business, and so are used to determine if a business is making a profit or loss. It includes activities directly related to providing goods and services to the consumer.

Cash reciepts form sale of investment such as stocks and bonds is classified as an investing activity. It is a positive investing activity because it involves inflow of cash.

This is not classified as an operating activity.

7 0
3 years ago
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As it applies to corporations, employee-owner separation means that many employees
Kruka [31]

As it applies to corporations, employee-owner separation means that many employees can be separated from organization as a result of resignation, removal, death, permanent incapacity, discharge or retirement and they as employee are not stockholders of the company for which they work.

For better understanding, lets explain ownership and control in firms

  • Separation of Ownership and Control in firm is done by Shareholders. They hire managers to manage the firm on their behalf. Employee only work for shareholders. Employees can be separated from organization as a result of resignation, removal, death, permanent incapacity, discharge or retirement

From the above, we can therefore say that the answer that as it applies to corporations, employee-owner separation means that many employees can be separated from organization as a result of resignation, removal, death, permanent incapacity, discharge or retirement and they as employee are not stockholders of the company for which they work is true

Learn more about separation from

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4 0
2 years ago
Which of the following is true of taxes and subsidies? Group of answer choices Politicians like to levy taxes, but they are relu
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Answer: If you tax something, you will get less of it; if you subsidize an activity, you will get more of it

Explanation:

Taxes are the levy that governments impose on people or firms. Subsidies are financial aid to companies in order to boost production and reduce price.

It should be noted that if you tax something, you will get less of it; if you subsidize an activity, you will get more of it. For example of an income is taxed, the owner of the income will geta lesser amount as tax will be removed.

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3 years ago
You place $4,00.00 in a bank account with an interest rate of 5.25% APR and another $2,000.00 in account with an interest rate o
san4es73 [151]
You'll earn $761.90 in the acct of the $4,000
And you'll earn $333.33 on the acct of the2,000
So, yes the first one is the answer
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3 years ago
FAB Corporation will need 200,000 Canadian dollars (C$) in 90 days to cover a payable position. Currently, a 90-day call option
fgiga [73]

Answer:

$144,000

Explanation:

Calculation to determine net amount paid, assuming FAB wishes to minimize its cost

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Therefore net amount paid, assuming FAB wishes to minimize its cost is $144000

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