Answer:
$340,000
Explanation:
Revenue target for September is $30,000 larger than its revenue target for June, since there are 3 months between June and September, its revenue target grew by $10,000 each month (= $30,000 / 3).
If the company's revenue target is $310,000 for December, and it continues to grow at the same rate, t will be $320,000 for January, $330,000 for February and finally $340,000 for March.
Answer:
Siewert Inc.
a) Journal Entry:
A memo entry to show that there is a 2-for-1 split only with new par value of $0.50 for 80 million shares.
b) The par value after the split = $0.50
Explanation:
a) Data and Calculations:
Common Stock = 40 million shares
Par value = $1
Declared stock split = 2-for-1
Market price of stock = $15 on June 13
New Common Stock = 80 million shares (40 million * 2)
New Par Value of Stock = $0.50 ($1/2)
b) Siewert Inc. does not record any journal entry for the stock split. Instead, it prepares a memo entry in its journal that indicates the nature of the stock split (2-for-1) and indicates the new par value to be $0.50. The company's balance sheet will reflect the new par value and the new number of shares authorized, issued, and outstanding after the stock split, which has been multiplied by 2 as 80 million shares.
Answer: False
Explanation: CIO is the senior most technical professional in a company whose objective is to help the organisation in achieving its goals by using his or her knowledge regarding the technology in use.
A CIO who do not have complete understanding of the business in which he works will not be able to implement the technology properly.
Thus, we can conclude that the given statement is false.
Answer:
Effect on income= $4,875 increase
Explanation:
Giving the following formula:
Production costs:
Direct materials$2.55
Direct labor 7.85
Variable manufacturing overhead 6.95
Total= $17.35
Special offer:
Selling price= $26.9
Number of units= 4,300
Increase in variable cost= $3.3
Increase in fixed costs= $22,000
<u>Because it is a special offer and there is unused capacity, we will take into account only the incremental fixed costs.</u>
<u></u>
<u>To calculate the effect on income, we need to use the following formula:</u>
Effect on income= incremental contribution margin - incremental fixed costs
Effect on income= 4,300*(26.9 - 17.35 - 3.3) - 22,000
Effect on income= $4,875 increase
