Answer:
2014 2013 %CHANGE
SALE 1297000 1001000 29.6%
COGS 797655 600600 32.8%
Gross margin 499345 400400 24.7%
operating expenses 302000 198000 52.5%
Income before tax 197345 202400 -2.5%
taxes 61400 52600 16.7%
Net income 135945 149800 -9.2%
Explanation:
%change = (2014 - 2013)/2013
2014 and 2013 represent each line item in the income statement
The appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.
<h3>Journal entry</h3>
Based on the information given the correct entry to record this transaction is:
Debit Cash $1313
{$1300+[($1300×4%)-($1300×3%)]}
[$1300+($52-$39)]
Debit Sales Discount $39
($1300×3%)
Credit Accounts Receivable $1352
[$1300 + ($1300×4%)]
Inconclusion the appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.
Learn more about journal entry here:brainly.com/question/9701045
Answer:
the efficiency variance for variable overhead setup costs is $4,810 favorable
Explanation:
The computation of the efficiency variance for variable overhead setup costs is shown below;
= ((15,700 ÷ 265) × 4.25) × $45 - ((15,700 ÷ 325) × 3) × $45
= $11,330.6604 - $6,521.5384
= $4,809.12 favorable
= $4,810 favorable
hence, the efficiency variance for variable overhead setup costs is $4,810 favorable
<span>B. FALSE yes
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