Answer:
Instructions are listed below.
Explanation:
Giving the following information:
1)
A) Absorption costing captures all product costs (direct labor, direct material, manufacturing overhead) to each unit of a product produced during the period. It includes variable and fixed cost.
Absorption cost= Direct material used + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead
B) Income statement:
Revenue/Sales (+)
Cost of Goods Sold (COGS) (-)
=Gross Profit
Marketing, Advertising, and Promotion Expenses (-)
General and Administrative (G&A) Expenses (-)
=EBITDA
Depreciation & Amortization Expense (-)
=Operating Income or EBIT
Interest (-)
Other Expenses (-)
=EBT (Pre-Tax Income)
Income Taxes (-)
=Net Income
2)
A) Variable costing= Direct material used + Direct labor + Variable manufacturing overhead + variable selling and administrative
B) Income statement
Sales
Cost of good sold (-)
Contribution margin
Fixed costs (-)
Depreciation expense (-)
Interest (-)
Net operating profit
Tax (-)
Net profit
Answer: Trade secret
Explanation: Trade secret is an intellectual property through which a business gains economic and competitive advantage in the market over other participants. It can be in the form of practice, process or design etc.
In the given case, the manufacturer has a secret formula for its recipe which will benefit him in the market as only he knows it, therefore, we can conclude that he has a trade secret.
A. Promissory Note
It means that when you write someone a check, it is a "promise", that their money will be there or liquidated.
Answer:
corporation income is also subject to what is called “double taxation,” when the income of the business is distributed to the owners in the form of dividends, because dividends are taxable.
