Answer:
Effect on income= $9,000 increase
Explanation:
Giving the following information:
Fashion:
Contribution margin= 20,000
Fixed expenses= 40,000
Operating income (loss)= (20,000)
$29,000 of fixed costs will be eliminated by discontinuing the Fashion line.
<u>We need to determine the effect on income if the Fashion line is discontinued.</u>
Effect on income= avoidable fixed costs + operating income
Effect on income= 29,000 - 20,000= $9,000 increase
Answer:
C)) factory overhead
Explanation:
Manufacturing cost can be regarded as the sum of all the costs resources that is been consumed during the process of making a product. manufacturing cost can be classified as;
✓direct materials cost
✓ manufacturing overhead.
✓direct labor cost
It can be regarded as factor in total delivery cost. Direct Material Cost can be regarded as total cost that is incurred in purchasing of raw material and cost of other components such as packaging, as well as freight and storage costs by the company
It should be noted that The three categories of manufacturing costs comprising the cost of work in process are direct labor, direct materials, and factory overhead.
The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.
Answer:
C) Treasury Stock Common is debited for $3300.
Explanation:
In the given question, the treasury stock is the purchase of 300 shares for $11 per share.
So, the treasury stock is debited with an amount of $3,300 ( 300 shares × $11 per share). It is debited because the treasury stock is purchased.
The other information which is given in the question is irrelevant. Hence, it is ignored.
Hence, all other options are incorrect.
Answer:
Yes, it is<u> true</u> that If the performance obligation is not highly dependent on, or interrelated with, other promises in the contract, then each performance obligation should be accounted for separately.
Explanation:
A performance obligation exists when an entity provides a distinct product or service.
It is a promise to provide a “distinct” good or service to a customer.
When there are multiple promises in a contract, companies will need to determine whether those goods or services are distinct, and therefore separate performance obligations for to avoid ambiguity.
Performance obligations in each contract can be identified by a company by first considering whether or not the goods or services are distinct.
If distinct, a customer can benefit from the good or service on its own because the good or service is separable from the other goods or services in a contract.