<span>Generally accepted accounting principles (GAAP) that govern the content and form of financial reports are established by the federal government. The federal government placed these principles on companies to make sure all accounting documents are done correctly and streamline. The easiest way to make sure all documents are the same across the board is to put regulations on how they must me submitted. </span>
Answer:
$7.88 million
Explanation:
Net Income = (EBITDA- Interest - Dep)*(1-tax)
Net income = 9.7
Earnings before interest, taxes, depreciation and amortization; EBITDA = 29.60
Interest = 6.8
tax = 35% or 0.35
9.7 = (29.60 - 6.8 - Dep)(1-0.35)
9.7 = (22.8 - Dep)*0.65
Divide both sides by 0.65
9.7/0.65 = 22.8- dep
14.9231 = 22.8 -dep
Dep = 22.8 - 14.9231
Dep = 7.8769
Therefore, depreciation and amortization expense is $7.88 million
Answer:
The predetermined overhead rate based on hours at capacity is closest to: $20.10 per hour.
Explanation:
Predetermined Rate = Budgeted Fixed Overheads / Budgeted Activity
= $ 3,819 / 190 hours
= $20.10 per hour
A person who makes good for the people is called Producer. The people who consumes his goods are called the Consumers.
Suppose there is a bakery in an area who sells fantastic cookies to the people. People who are making the cookies in the bakery are the producers of that product. So consumers may say that this bakery is the producer of best cookies in town.
