Answer:
Carla Vista Company has the following information available for September 2020.
Unit selling price of video game consoles $410
Unit variable costs $328
Total fixed costs $36,900
Units sold 600
Compute the unit contribution margin.
Unit contribution margin enter the unit contribution margin
Prepare a CVP income statement that shows both total and per unit amounts.
Compute Carla Vista’ break-even point in units.
Break-even point in units enter Break-even point in units units
Prepare a CVP income statement for the break-even point that shows both total and per unit amounts.
Answer:
31 Dec 2021 Interest Expense $667 Dr
Interest Payable $667 Cr
Explanation:
The bond will pay the interest at maturity. However, following the accrual basis of accounting requires to match the revenue and expenses for a period and requires such transactions to be recorded in their respective periods. The year end adjusting entry will be made on 31 December 2021.
The interest expense for the period from August to December, 5 months, will be recorded on 31 December 2021 as interest expense and credit to interest payable.
The interest expense is = 16000 * 0.1 * 5/12 = $666.67 rounded off to $667
I think it is grey with blue tinsel charts... 86/56
Answer:
So the depreciation in year 1 is $95,000
Explanation:
Depreciation is the accounting method that is used to allocate cost of an asset over its useful life. It is assumed that an asset losses values over a period and the salvage or terminal value is the value of the good after its useful life has ended.
Straight line method of depreciation assumes equal allocation of depreciation expense over the useful life of an asset.
In the given the asset value is $570,000 and the terminal value is $0
Using the formula
Depreciation= (Value of asset- Salvage value)/Number of useful years
Depreciation= (570,000-0)/6
Depreciation= $95,000 paid equally for 6 years
So the depreciation in year 1 is $95,000
Answer:
The predetermined overhead rate for the recently completed year was $25.33
Explanation:
The formula to compute the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
where,
Total estimated manufacturing overhead = Estimated total fixed manufacturing overhead + estimated variable manufacturing overhead rate × estimated labor hours
= $1,230,440 + $3.12 × 55,400 hours
= $1,230,440 + $172,848
= $1,403,288
Now put these values to the above formula
So, the rate would equal to
= $1,403,288 ÷ 55,400 hours
= $25.33
