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3 years ago

Given the following information, prepare an income statement for the Dental Drilling Company.

Business

1 answer:

dmitriy555 [2]3 years ago

8 0

Answer:

Results are below.

Explanation:

Giving the following information:

Selling and administrative expense $90,000

Depreciation expense 75,000

Sales 621,000

Interest expense 46,000

Cost of goods sold 231,000

Taxes 50,000

With the information listed above, we need to make an income statement following the structure below:

Sales= 621,000

COGS= (231,000)

Gross profit= 390,000

Selling and administrative expense= (90,000)

Depreciation expense= (75,000)

Interest expense= (46,000)

Eearning before taxes (EBT)= 179,000

Taxes= (50,000)

Net operating income= 129,000

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Valley Forge and Metal purchased a truck five years ago for local deliveries. Which one of the following costs related to this t

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The correct option is - 3 ( "Money spent last month repairing a damaged front fender" )

Explanation:

Sunk cost means the cost that has been already incurred in the past and cannot be recovered. This implies that sunk costs should be not be considered in future decision making of the project, because these are the cost that can not be changed with under taking the project or not. The significant aspect about this costs is that they shouldn't be allowed to influence subsequent decisions.

With the theatre ticket example, there's an opportunity to leave the theatre at the intermission and spend the rest of your evening doing something else more enjoyable. If you don't like the play then you might decide to leave, but the sunk cost of the ticket shouldn't influence your decision to stay or leave.

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3 years ago

Monies that are earmarked for certain purposes from the moment that they are collected are __________. non-dedicated funds dedic

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Answer: Dedicated Funds

Explanation: A dedicated fund is a part of an income that is strictly set aside for a fixed purpose from the moment they are gotten.

A dedicated fund can take any format, some of which includes; money set aside for savings, money kept as tax, money set aside for insurance payments etc.

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3 years ago

Johni is the CEO of a struggling company. She has listened to her employee's complaints and concerns about where the corporation

valina [46]

Answer: Transformational Leadership

Explanation:

Transformational Leadership could be described as a process where a leader is able to communicate plans, aim and goals with his or her team and they respond with improvement and rapid growth. Their growth was as a result of the leaders effect among them.

Johni can be seen as carrying out a transformational leadership due to she's able to turn around the tide of the with her employees as they now perform better based on her leadership pattern.

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3 years ago

An investor has at most $80 comma 000 to invest in government bonds, mutual funds, and money market funds. The average yields

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Answer:

How much should be invested in each type of investment in order to maximize the return?

Invest Value Invested

Gov Bonds $40,000

Mutual F $40,000

Market F -

TOTAL $80,000

What is the maximum return in the first year?

Invest Expected Ret. Portfolio

Gov Bonds 4,0%

Mutual F 7,0%

Market F 0,0%

TOTAL 11,0%

Explanation:

The investor's policy requires that the total amount invested in mutual and money market funds not exceed the amount invested in government bonds.

As Mutual Funds have the higher returns, it means that it's necessary to invest as much as we can in these financial instruments.

If there is no requirement of invest something in the market funds, then to maximize yield, the best option is to invest 50/50 between Government Bonds and Mutual Funds.

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4 years ago

Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Depar

liq [111]

Answer:

Equivalent units of materials, labor, and overhead

Materials

Units in Ending Work in Progress (2,600 × 80%) = 2,080

Labor

Units in Ending Work in Progress (2,600 × 60%) = 1,560

Overhead

Units in Ending Work in Progress (2,600 × 60%) = 1,560

Cost of ending work in process inventory for materials, labor, overhead

Materials

Cost = Equivalent units × unit cost

= 2,080 × $ 13.70

= $28,496

Labor

Cost = Equivalent units × unit cost

= 1,560 × $4.70

= $7,332

Overheads

Cost = Equivalent units × unit cost

= 1,560 × $ 7.40

= $11,544

Cost of the units transferred to the next department

Materials = $28,496

Labour = $7,332

Overheads = $11,544

Total = $47,372

Cost reconciliation for January

INPUTS

Beginning Cost + Cost Added $720,752

Total $720,752

OUTPUT

Ending Work in Process $47,372

Completed and Transferred ( 26,100 × 25.80) $673,380

Total $720,752

3 0

3 years ago