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gogolik [260]
3 years ago
13

Zhao Co. has fixed costs of $354,000. Its single product sells for $175 per unit, and variable costs are $116 per unit. The comp

any expects sales of 10,000 units. Prepare a contribution margin income statement for the year ended December 31, 2019.
Business
1 answer:
Elden [556K]3 years ago
8 0

Answer:

Contribution margin income statement for the year ended December 31, 2019

Sales (10,000×$175)                              1,750,000

Less Variable Costs (10,000×$116)      (1,160,000)

Contribution                                             590,000

Less Fixed Costs                                    (354,000)

Net Income/(loss)                                    236,000

Explanation:

Variable Costing Income = Contribution - Fixed Costs

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poizon [28]

it would be a as a team I hope this helps

3 0
2 years ago
The following information describes the investment portfolio of Stevens, Incorporated. All of the securities were purchased on 3
Wewaii [24]

Answer:

a. 3/1/2019

Dr Investment in Tlet Inc $23,000

Dr Investment in Loxat Co $100,000

Dr Investment in Barnes Inc $46,000

Cr Cash $169,000

12/31/2019

Dr Fair value adjustment $41,000

Cr Unrealised holding gain or loss,Net $41,000

5/1/2020

Dr Cash $81,000

Cr Investment in Loxat Co $50,000

Cr Recognized gain on sale $31,000

12)31/2020

Dr Fair value adjustment $15,500

Cr Unrealised holding gain or loss,Net $15,500

b. Fair value adjustment $41,000

Fair value adjustment $15,500

Explanation:

a. Preparation of the Necessary Journal Entries for 2019 and 2020

3/1/2019

Dr Investment in Tlet Inc $23,000

Dr Investment in Loxat Co $100,000

Dr Investment in Barnes Inc $46,000

Cr Cash $169,000

12/31/2019

Dr Fair value adjustment $41,000

Cr Unrealised holding gain or loss,Net $41,000

($169,000-$210,000)

5/1/2020

Dr Cash $81,000

( $81 per share*1,000 shares)

Cr Investment in Loxat Co $50,000

[($100,000/2,000 shares=50 shares)

[($50*1,000 =$50,000)

Cr Recognized gain on sale $31,000

($81,000-$50,000)

12)31/2020

Dr Fair value adjustment $15,500

Cr Unrealised holding gain or loss,Net $15,500

[($119,000-$175,500)-$41,000]

($23,000+$50,000+$46,000=$119,000)

b.Calculation to Complete the fair value adjustment

A. Fair value adjustment =$169,000-$210,000

Fair value adjustment $41,000

B. Fair value adjustment=[($119,000-$175,500)-$41,000]

Fair value adjustment=$56,500-$41,000

Fair value adjustment= $15,500

Therefore the Fair value adjustment will be:

A. $41,000

B. $15,500

4 0
3 years ago
Explain the following term:-<br>a)market segment​
SIZIF [17.4K]

Answer:Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action

Explanation:

7 0
3 years ago
Read 2 more answers
Rhed Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day
REY [17]

Facility expenses in the flexible budget comes out to be $24,260.

<h3>What is flexible budged?</h3>

A flexible budget is one that is based on various sales volumes. For each projected level of production, the static budget is adjusted by a flexible budget. Due to this flexibility, management is able to predict how the budgeted figures will change as sales volume changes.

Calculation for the facility expenses in the flexible budget for December:

The table of the data used in budgeting: Fixed Element per Month Variable element per tenant-day Revenue is in attachment-

Facility expenses in the flexible budget = Variable + Fixed

                                                                  = (3650*4.40) + 8200

                                                                  = 16,060 + 8200

                                                                   = 24,260

The wages and salaries in the planning budget for December would be closest to $24,260.

To know more about the flexible budget, here

brainly.com/question/25353134

#SPJ4

6 0
2 years ago
Darren is eligible to contribute to a traditional 401(k) in 2019. He forgot to contribute before year-end. If he contributes bef
Irina18 [472]

Answer:

True

Explanation:

Base on the scenario been described in the question which, Darren was eligible to assist to a traditional of 401,000 in 2019, but we were told he forgot and later he paid in 15, June 2020, he is look as though he paid in 2019 because and it is true.

The reason why the answer is true is that Darren is that the time he paid the money in July 15, 2020, it was still within the time he allowed to still pay for the year 2019, that's why he considered as though he paid in 2019.

5 0
3 years ago
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