Answer:
The fixed costs per unit when 20,000 units are produced are $6.05 per unit.
Explanation:
Fixed costs per unit can be determined by using the following formula:
Fixed costs per unit = Total fixed costs/ number of units are produced
In a company, Total fixed costs do not depend on the level of activity (Fixed costs do not change).
In the company, Total fixed cost = $11 x 11,000 = $121,000
When 20,000 units are produced, Fixed costs per unit = $121,000/20,000 = $6.05 per unit.
An individual stockholder is entitled to receive any dividends declared on stock owned, provided the stock is held on the ex-dividend date. This is the date that is scheduled by the stock exchange. It is the date where you are entitled as the owner of a stock.
Answer:
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Explanation:
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Answer:
C. Net income and stockholders' equity are both overstated.
Explanation:
In the income statement , ending inventory is deducted from the addition of the beginning inventory and net purchases to arrive at the cost of goods sold. Therefore, the cost of goods can be stated as an equation stated as follows:
Cost of goods sold = Beginning inventory + Net purchases - Ending inventory
From the above equation, it can be observed that if the ending inventory is overstated, cost of goods sold will be understated by that amount.
Since gross income is determined by deducting cost of goods sold from the net sales, an understated cost of goods sold will result in an overstated gross income and subsequently overstated net income.
Since net income is one of the components of the stockholders' equity, an overstated net income will leads to an overstated stockholders' equity.
Therefore, the correct option is C. Net income and stockholders' equity are both overstated.
