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Brrunno [24]
3 years ago
11

Preparing a budget is a simple six-step process.

Business
1 answer:
Lostsunrise [7]3 years ago
7 0

Record income. List everything you expect to earn in the coming year. ...

Identify expenses. ...

Pay yourself first. ...

Track results. ...

Adjust As you go. ...

Banish debt.

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Kieu Corporation constructs a new warehouse. It pays $100,000 for materials and $70,000 to the general contractor. Architectural
garik1379 [7]

Answer:

$204,000

Explanation:

Initial cost basis is the amount of cost capitalized in the purchase of an asset for tax and other purposes.It consists of purchase price , development fees , professional fees  estate taxes and others.

Please note that finance cost is not included as it is recorded as expenses over the life of the loan.

Workings

Materials - $100,000

Contractor fees - $70,000

Architectural fees - $ 18,000

Cost of land  $ 15,000

Estate taxes - $1000

Total cost =$204,000

8 0
3 years ago
Adams Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells bet
elena-14-01-66 [18.8K]

Answer:

Number of Trophies 6,000 8,000 10,000 12,000

Total costs incurred

Fixed 76,000. 76,000 76,000 76,000

Variable 42,000 56,000 70,000 84,000

Total costs 118,000 132,000 146,000 160,000

Cost per unit 12.67 9.50 7.60 6.33

Fixed Variable 7.00 7.00 7.00 7.00

Total cost per trophy 19.67 16.50 14.60 13.33

Explanation:

Calculation to Complete the preceding table by filling in the missing amounts for the levels of activity shown in the first row of the table

Number of Trophies 6,000 8,000 10,000 12,000

Total costs incurred

Fixed 76,000 76,000 76,000 76,000

Variable 42,000 56,000 70,000 84,000

Total costs 118,000 132,000 146,000 160,000

Cost per unit 12.67 9.50 7.60 6.33

Fixed Variable 7.00 7.00 7.00 7.00

Total cost per trophy 19.67 16.50 14.60 13.33

Fixed Cost =76,000

Variable cost per unit =42,000/6,000 units=7 per units

Variable cost per unit =8,000 units×$7 =$56,000

Variable cost per unit=10,000 units×$7=$70,000

Variable cost per unit=12,000 units× $7=$84,000

Total Cost =Fixed cost + Variable cost

Cost per unit=Fixed cost/Number of units

8,000 units=76,000/8,000=$9.50

10,000 units=76,000/10,000=$7.60

12,000 units=76,000/12,000=$6.33

Fixed Variable=42,000/6,000 units=7 per units

Total cost per trophy =Cost per units + Fixed variable

5 0
3 years ago
Which organization sets monetary policy for the United States? Board of Governors Congress Federal Open Market Committee Federal
Mandarinka [93]
The Federal Reserve Banks is the organization that sets the monetary policy for the United States.

They decide on the interest rates of commercial banks, as well as, the quantity of legal tender that must be in circulation.


4 0
3 years ago
Read 2 more answers
American energy review reported that 27% of american households burn wood. if a random sample of 500 american households is sele
Juli2301 [7.4K]

This is binomial distribution problem. <span>
We are given that:</span>

n = sample size = 500

p = proportion which burns wood = 0.27,

q = proportion which does not burn wood = 1-p = 0.73 

<span>
A. Mean is calculated as:</span>

Mean = n*p

Mean = 500 * 0.27

Mean = 135 

<span>
B. Variance is calculated as:</span>

Variance = n*p*q

Variance = 500*0.27*0.73

Variance = 98.55 

<span>
C. Standard deviation is calculated as:</span>

Standard deviation = sqrt(variance)

Standard deviation = sqrt(98.55)

<span>Standard deviation = 9.93</span>

4 0
3 years ago
Budgeted financial statements are financial statements based on budgeted amounts rather than actual amounts.
Tasya [4]

Answer:

The statement is True.

Explanation:

Budgeted financial statements are prepared for a future period of time. So that it is easy to anticipate certain fixed and variable costs and allocate financial resources to them.

Also, Budgeted financial statement are useful during the strategic planning process and planning on future business expansions.

3 0
3 years ago
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