Problem location and definition is the first step toward finding a solution to a marketing problem or launching a research study. The sign of a problem is usually a departure from some normal functions, for instance, failure to attain objectives.
Answer:
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Explanation:
Answer:
increase in income of $80
Explanation:
Prepare an Analysis of Costs and Savings if the Company buys from Outside Supplier.
Note : The fixed costs per unit at are unavoidable are irrelevant and disregarded in this decision.
<u>Analysis of Costs and Savings</u>
Purchase Price (400 widgets × $44.00) = ($17,600)
Savings :
Variable Costs ($35.60 × 400 widgets) = $14,240
Fixed Cost ( $8.60 × 400 widgets) = $3,440
Net Income effect = $80
Conclusion :
The effect on net income if the company instead buys the widgets is an increase in income of $80
Answer:
The Journal entries are as follows:
(i) On March 1,
Prepaid insurance A/c Dr. $24,600
To cash A/c $24,600
(To record the purchase of insurance in advance)
(ii) On December 31,
Insurance expense A/c Dr. $20,500
To Prepaid insurance $20,500
(To record the insurance expense)
Workings:
Insurance expense:
= $2,050 × 10 months (From March 1 to December 31)
= $20,500
The document is known as W-4 Form. You fill this form when you are claiming your allowances, but it also helps to guide your boss on how much money should be withheld from your paycheck for federal taxation.
