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3 years ago

When do you think is the first point where you will first need to get life insurance?

1 answer:

5 0

1.You need to get life insurance when someone depends on your income.
2. Age so for retirement reasons
3.Health conditions
4.your partner or you is about to give birth or has a newborn

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Someone help me please?

laila [671]

Answer:

a) Cost of goods Manufactured = $610,000

b) Cost of sales = $ 580,000

c) Net income = $ 140,000

Explanation:

a) Ferruccio Fashion

Schedule of Cost of Goods Manufactured

For the Year Ended 12/31/X2

Particular $ $

Direct Materials:

Raw Materials, 1 January 40,000

Add: Purchase 180,000

Materials available for use 220,000

Less: Raw materials, 31 December 25,000

Materials used 195,000

Direct Labor 200,000

Prime Costs 395,000

Manufacturing Overhead:

Indirect Material 11,000

Indirect Labor 16,000

Plant Utilities 40,000

Depreciation, plant and equipment 60,000

Other 78,000 205,000

Total Manufacturing Costs 600,000

Add: Work-in-progress, 1 January 40,000

Less: Work-in-progress, 31 December (30,000)

Cost of goods manufactured 610,000

b) Ferruccio Fashion

Schedule of Cost of sales

For the Year Ended 12/31/X2

Particular $

Finished goods inventory, 1 January 20,000

Add: Cost of goods manufactured (From a) 610,000

Goods available for sale 630,000

Less: Finished goods inventory, 1 January (50,000)

Cost of sales 580,000

Now, this cost of sales will be used to find gross and net profit.

C) Ferruccio Fashion

Income Statement

For the Year Ended 12/31/X2

Particular $

Sales Revenue 945,000

Less: Cost of sales (From part B) 580,000

Gross Profit 365,000

Less: Selling and administrative expenses 145,000

Income before income tax 220,000

Less: Income tax expense 80,000

Net Income 140,000

8 0

3 years ago

Forrester Company is considering buying new equipment that would increase monthly fixed costs from $120,000 to $150,000 and woul

Margarita [4]

Answer:

"Decrease by 250" is the appropriate response.

Explanation:

The given values are:

Revised fixed cost,

= $150,000

Current selling price,

= $100

Current variable cost,

= $60

Current contribution will be:

= $Current \ selling \ price-Current \ variable \ cost$

= $100-60$

= $40$

Now,

The revised BEP will be:

= $\frac{Revised \ fixed \ cost}{Revised \ contribution}$

On substituting the values, we get

= $\frac{150,000}{40}$

= $3750 \ units$

hence,

= $4000-3750$

= $250$

Thus the above is the correct answer.

4 0

3 years ago

Suppose you deposit $2 comma 5002,500 cash into your checking account. By how much will checking deposits in the banking system

algol13

Answer:

The change in checking deposit is equal to $22,727.27.

Explanation:

An amount of $2,500 is deposited in a checking account.

The required reserve ratio is 0.11 or 11%.

A part of this deposit will go to the required reserve and the rest will be added in the checking deposit of the bank.

The change in the checking deposits will be

= $\frac{1}{RR} \times$ amount deposited

= $\frac{1}{0.11}\times \$ 2,500$

= $22,727.27

3 0

3 years ago

Which of the following is correct with respect to Debt Service Funds?

Verizon [17]

Answer:

C. Debt service funds account for and report financial resources that are restricted, committed or assigned to expenditure for principle and interest for governmental debts except debt of proprietary and fiduciary funds who account for their own interest and principle payments.

Explanation:

Debt service funds are used to pay for principal and interest on certain types of debts. This reduced the risk of debt security that investors face and also reduces the effective rate at which the offering can be sold.

However debt service funds cannot be used for proprietary funds like 400 and 500.

Instead we use Enterprise funds for 400. That is operations similar to corporate enterprise. For example water and sewage utilities.

Internal service funds for 500 used by other funds or departments bin a government in a cost reimbursement basis. For example a food supplier that takes orders and is reimbursed for each order.

5 0

3 years ago

Read 2 more answers

Match the job descriptions with the job titles.

Marina CMI [18]

Answer:

See below

Explanation:

The job description is a document that shows the duties, responsibilities, and skills to perform a specific role. For example;

Negotiate insurance settlement- Claim adjuster

The claim adjuster gathers reports and facts to the insurer.

Certifies the financial record of the business- Auditor

An auditor ensures the reports and records are well examined in an organization. He or she verify the assets and liabilities.

Help a company build a positive image in the media- Public relation specialist.

Public relations help in building trust and creating awareness about the organization.

Negotiates the rates for transportation of goods- Cargo and flight agent

cargo and flight agents ensure that shipments are delivered on time, and fees are collected.

6 0

3 years ago