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yanalaym [24]
3 years ago
12

Presented below is information for Blossom Company for the month of January 2022. Cost of goods sold $270,000 Rent expense $35,0

00 Freight-out 6,800 Sales discounts 7,800 Insurance expense 13,000 Sales returns and allowances 12,000 Salaries and wages expense 45,000 Sales revenue 431,000. Prepare an incomestatemnt using the multi-step format.
Business
1 answer:
trapecia [35]3 years ago
5 0

Answer and Explanation:

The preparation of the multi-step income statement is shown below:

                                        Blossom Company

                                        Income Statement

                             For the Month January 2022

Revenues  

Sales revenue           $431,000

Less:  

Sales discount -$7,800  

Sales return  -$12,000

                                                 -$19,800

Net Sales                    $411,200

Less: Cost of goods sold -$270,000

Gross Profit                    $141,200

Less: Operating expenses:  

Freight out -$6,800

Insurance expense  -$13,000  

Salaries and wages expense -$45,000

Rent expense  -$35,000

Total Operating expenses -$99,800

Operating Income                  $41,400

We simply deduct the expenses from the gross profit so that the operating income could arrive

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A monopolist has the total cost function c(q) = 750 + 5q. The inverse demand function is 140 - 7q, where prices and costs are me
Ierofanga [76]

Answer:

d. the firm will lose $750

Explanation:

marginal cost is the derivate of the cost function: It represent the cost of producting an additional unit

cost: 750 + 5q

dC/dQ = 5

We have determinate that marginal cost is $5 thus, we should price at the same value. The mistake from the goverment is to equalize marginal cost with price instead of marginal revenue.

This will make the firm loss the fixed component of the cost as will sale to pay up the variable cost.

The fixed cost is $750 so that is the loss from operations

4 0
3 years ago
Blue Ridge Bicycles uses a standard part in the manufacture of several of its bikes. The cost of producing 43,000 parts is $140,
kifflom [539]

Answer:

$71,000

Explanation:

The computation of operating income is shown below:-

Total costs if company bought = Cost of production × Outside supplier per unit) + (Fixed cost × Remaining percentage)

= (43,000 × $3.80) + ($68,000 × (100% - 30%))

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= $211,000

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= $211,000 - $140,000

= $71,000

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8 0
3 years ago
Pls help for questions no 2, 3, 4, 7, 8, 9, 10
Montano1993 [528]
I can’t see the question
5 0
3 years ago
I was paid $200 in advance for some hair coloring I will do in January he tells me that's a liability that doesn't make any sens
raketka [301]

Answer:

That is correct this is a liability

Explanation:

That is correct this is a liability. That is because a liability refers to being legally responsible for something. In this scenario, since they paid you $200 for hair coloring then you owe the client that. Meaning that you are legally responsible to provide hair coloring services to the client and until you do that you are liable.

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Two-year-old Max sees a rabbit and calls it a "bunny." He then sees a large white hamster and calls it a "bunny," too. In this s
Olegator [25]

Answer:

The correct answer is overextension.

Explanation:

In the context of language acquisition, it refers to the erroneous over-generalization in the use of a word; that is, to the error that consists in extending the application of words to entities or objects not included in the concept or category of reference, even if they share certain characteristics. For example, the word "dog" is used to correctly designate dogs; but it is also used in reference to any other animal with "four legs."

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3 years ago
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