Answer:
This statement is TRUE, because:
C) Green Caterpillar’s retained earnings account increased between the end of Years 1 and 2.
Explanation:
The only way to determine if a company was profitable is through the Net Profit in the Income Statement , if it was profitable it means that the result were allocated in Retained Earnings in the Balance Sheets because this account only growth with the results of the income statement, in this case the increase in the account was for $394.
Option A) is not true because the increase in total assets not only means a company´s positive results it could be because of the company increment the Accounts Receivable term and the Inventories which no means a positive result.
Option (B) in the case of cash increases it could be due to an increase in the total debt of the company as it's indicated in the Long Term Debt and because of new stock issues.
Both of this option are complementary to the option selected but this options alone doesn't indicate a profitabilty year.
Answer
Erin can collect unemployment insurance to help pay her bills.
Explanation
Unemployment insurance cover is one where individuals may receive benefits if they lost their jobs faultlessly and satisfy other requirements of course. Those that can not apply for unemployment cover include persons that terminated their employment willingly and self-employed individuals. The government uses taxes obtained from employers to create a fund that cover for unemployment insurance.
Answer:
b.$12,990
Explanation:
Calculation to determine the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs
Using this formula
Overhead applied = Direct labor cost * Predetermined overhead rate
Let plug in the formula
Overhead applied= 43,300 * 30%
Overhead applied= $12,990
Therefore the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs is $12,990
Answer:
Explanation:
There are primarily two types of costs, i.e. variable costs and the fixed costs. The variable cost is the cost which changes when the level of production changes, whereas the fixed cost is the cost which remains constant whether the level of output changes or not.
The variable costs also include indirect products, indirect labor and manufacturing equipment, and the fixed costs include taxes and depreciation costs.
The period cost is that cost which is related to the selling and admin expenses plus it is not capitalized.
Whereas the product cost is a mix of direct labor, direct material and the manufacturing overhead
So, the categorization is shown below:
1. Hamburger buns in a Wendy's outlet. = variable and product cost
2. Advertising by a dental office. = Fixed and period cost
3. Apples processed and canned by Del Monte. = variable and product cost
4. Shipping canned apples from a Del Monte plant to customers. = variable and period cost
5. Insurance on a Bausch & Lomb factory producing contact lenses. = fixed and product cost
6. Insurance on IBM's corporate headquarters.= fixed and period cost
Answer:
Its operating expenses were $ 3.588 B
Explanation:
The operating ratio is the ratio of operating expense to the operating or revenue generated.
This ratio is used for comparison of results from the operations of various industries.
Given that the operating ratio of 78% and the operating revenue is $4.6B, the operating expense T may be computed as
78% = T/4.6 * 100%
T = 4.6 *.78
= $3.588 B
