Answer:
Newton Corporation
Net income for the year = $120
Explanation:
a) Data and Calculations:
Direct materials cost = $400
Direct labor cost = 800
Manufacturing overhead 400
Total manufacturing cost $1,600
Cost per unit = $8
Ending Inventory of finished goods = 150 units * $8 = $1,200
Cost of goods sold = 50 * $8 = $400
Sales revenue = 50 * $12 = $600
Newton Corporation
Income Statement
For the year ended December 31:
Sales Revenue $600
Cost of goods sold 400
Gross income $200
Selling & Admin.
expense 80
Net Income $120
b) Newton Corporation's net income is the difference between the Sales Revenue, cost of goods sold and selling and administrative expenses.
All you have to do is substitute the y values to the equation to solve the corresponding c values which stands for the consumption levels. To illustrate the solution,
when y = 100,
C = <span>120+0.65(100)
C = 185
</span>when y = 120,
C = 120+0.65(120)
C = 198
when y = 125,
C = 120+0.65(100)
C = 201.25
And so on and so forth. The answers would be:
y C
100 185
120 198
125 201.25
140 211
80 172
115 194.75
145 214.25
150 217.5
166 227.9
200 250
A majority decision strategy would be most effective in this situation.
Explanation:
The concept of majority is a system of judgement which chooses alternatives that have a majority, which means more than half the votes.
It is the conditional decision concept used in leading policy-making bodies most often.
The majority oppression (or collective tyranny) is a flaw that is undoubtedly implicit in majority government, in which the majority of voters seek their own interests at the expense of those within the minority exclusively.
So in this scenario , the restaurant management should take everyone's decision and the majority should be executed.This is the best choice to take quickly.
Answer:
Yes, accounting conservatism is appropriate because it makes firms more cautious when registering and reporting financial information. This increased cautiousness is likely to make accounting information more accurate.
Under the principle of accounting conservatism, losses are registered when they are found to be probable, while earnings are only added when they have been fully realized. As a result, this principle results in prudent and more trustworthy financial information for all stakeholders.