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vlada-n [284]
3 years ago
8

Emily Lim owns and runs an ice cream parlor in San Diego. Last year, she had sales of $430,000 and an average tax rate of 34%. S

he spent $43,000 on ingredients, $21,500 on utilities, and $77,400 to rent the premises Emily has a few employees and paid them $86,000 in wages in total. She also paid herself a salary of $64,500 and spent $43,000 to pay for employee benefits A few years ago, Emily borrowed money to buy the ice making equipment. Last year, she paid $21,500 in interest on that loan. Depreciation for the equipment was $12,900 Attempt 1 /1 for 10 pts. Part 1 What was operating income (EBIT) for the year?
Business
1 answer:
Harman [31]3 years ago
7 0

Answer:

Explanation:

1). EBIT = Sales - Expenses - Depreciation

Sales = 430,000

Ingredients expenses = 43,000

Utilities expenses = 21,500

Rent expense = 77,400

Salary payments = 86,000

Salary to herself = 64,500

Employee benefits expenses = 43,000

Depreciation = 12,900

EBIT= $430,000 - $43,000 - $21,500 - $77,400 - $86,000 - $64,500 - $43,000 - $12,900 = $81,700

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Vladimir79 [104]

Answer:

It should accept the special order at the price of $36 as the total marginal cost will be $28.5 (27 variable cost + 1.15 shipping cost).

Explanation:

Special orders are accepted only if marginal revenue increases the marginal cost. Marginal cost is the total cost incurred to fulfill any order.

In the given scenario, since the Company already has adequate capacity and it will not incur any additional fixed cost, therefore the order can be accepted by taking variable cost in to consideration.

Marginal Revenue               36

Less: Marginal Cost

Variable Cost                      (27)

Shipping Cost                   <u> (1.15)</u>

Total Profit from Order   <u> 7.85</u>

4 0
3 years ago
Suppose management estimated the market valuation of some obsolete inventory at $99,000; this inventory was recorded at $120,000
Annette [7]

Answer:

a. An audit adjustment is needed since the best case scenario, where the net realizable value is highest would result in $92,000 - $5,000 = $87,000.

b. the value of inventory must decerase by $99,000 - $87,000 = $12,000, so COGS must increase by that amount:

Dr Cost of goods sold 12,000

    Cr Merchandise inventory 12,000

4 0
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tangare [24]

Answer:

She will be required to use the BIOS/UEFI to check the memory slots available and how much memory on the slots have been used up.

Explanation:

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cheers.

7 0
3 years ago
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inessss [21]

The way where the credit is not improved is that if we moving the debt around.

Information related to the credit score & creditworthiness:

  • The credit score is the mathematical expression that depends upon your creditworthiness.
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The credit should be improved by:

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But if the debt is moving around so this does not improve your credit.

Therefore we can conclude that the way where the credit is not improved is that if we moving the debt around.

Learn more about creditworthiness here: brainly.com/question/2254218

3 0
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