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ddd [48]
3 years ago
13

Oriole’s Electronic Repair Shop started the year with total assets of $300000 and total liabilities of $208000. During the year,

the business recorded $523000 in electronic repair revenues, $319000 in expenses, and Oriole withdrew $49300. Oriole's Owner’s Capital balance changed by what amount from the beginning of the year to the end of the year?
Business
1 answer:
AVprozaik [17]3 years ago
7 0

Answer:

$154,700

Explanation:

The computation of the change in amount is shown below

But before that first find out the ending capital balance which is

= (Total assets - total liabilities) + (revenues - expenses) - drawings

= ($300,000 - $208,000) + ($523,000 - $319,000) - $49,300

= $92,000 + $204,000 - $49,300

= $92,000 + $154,700

= $246,700

Now the change in capital balance is

= Closing balance - opening balance

= $246,700 - $92,000

= $154,700

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Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:
defon

Answer: $96,500

Explanation:

Manufacturing cost includes all the costs that went into production in a period including direct costs and manufacturing overhead:

= Direct materials + Direct labor + Manufacturing Overhead

Manufacturing overhead = Beginning work in process + Factory overhead - Ending work in process

= 11,200 + 52,600 - 11,800

= $52,000

Manufacturing cost = 19,500 + 25,000 + 52,000

= $96,500

3 0
2 years ago
Great Skin Inc. is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The comp
dolphi86 [110]
Break even idk tbh bruh it’s said wrong answer
3 0
3 years ago
The city of New Orleans has 200 advertising companies, 199 of which employ designers of normal ability at a salary of $100,000 a
zepelin [54]

Answer:

a. $700,000

b. 6/7 or 85.7%

c. No they will not.

Explanation:

a. Jacobs will earn the normal salary that the other designers in the other companies are getting in addition to the incremental income he brings to the company as a result of his talents.

Incremental income = Revenue with Jacobs - Revenue without Jacobs

= 1,000,000 - 400,000

= $600,000

Jacobs earnings = Normal designer earnings + incremental income

= 100,000 + 600,000

= $700,000

b. Economic rent is the excess amount that the company is paying Jacobs over what it should normally cost to get a designer.

Normal cost of designer is $100,000. Company is therefore paying an economic rent of $600,000.

Proportion of Jacobs salary that is economic rent = \frac{Economic rent}{Jacobs annual earning}

= \frac{600,000}{700,000}

= 6/7 or 85.7%

c. The company hiring Jacobs will not be making an economic profit because for them to make an economic profit they would have to be making more than the $400,000 that the other firms make. They cannot make this amount because for them to do so they would have to reduce the amount they pay Jacobs. If they do so, Jacobs would leave for greener pastures and then they would be making the same $400,000 that the rest are making.

8 0
3 years ago
Arkansas Corporation manufactures liquid chemicals A and B from a joint process. It allocates joint costs on the basis of sales
Dvinal [7]

Answer:

The company's cost to produce 1,000 gallons of product B is $7,131.25.

Explanation:

This can be calculatd as follows:

Product B share of joint cost = (Product B sales value / (Product B sales value + Product A sales value)) * Cost to split-off point = ($32.20 / ($32.20 + $3.00)) * $5,500 = 0.914772727272727 * $5,500 = 5,031.25

Product B total additional separable process beyond split-off = Additional cost per gallon * Number of gallons of product B produced = $2.10 * 1,000 = $2,100

Therefore, we have:

Company's cost to produce 1,000 gallons of product B = Product B share of joint cost + Product B total additional separable process beyond split-off = 5,031.25 + $2,100 = $7,131.25

Therefore, the company's cost to produce 1,000 gallons of product B is $7,131.25.

4 0
2 years ago
Melody and Todd are married and have employee wages of $250,000 each in 2019. They have no other income. How much additional 0.9
sasho [114]

Answer:

$1,350

Explanation:

The computation of the amount pay or received as a refund at the time of filing the income tax return for the year 2019 is shown below:

As we know that

The Medicare tax rate is 1.45% till $200,000

And, if it is above $200,000 than 2.35% is charged (1.45% + 0.9%)

Now

For individually calculated,

Melody = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

Todd = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

So, the total is

= $4,075 + $4,075

= $8,150

Now if they filling their joint return so

Total salary is $500,000   ($250,000 × 2)

Medicare upto $250,000 = $3,625 ($250,000 × 1.45%)

for remaining $250,000 = $5,875 ($250,000 × 2.35%)

So, the Total is

= $3,625 + $5,875

= $9,500

Now the refund is

= Joint return - individually return for each one

= $9,500 - $8,150

= $1,350

4 0
3 years ago
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