Answer:
$984,000
Explanation:
The computation of the budgeted total manufacturing cost is shown below:
Budgeted total manufacturing costs in March = Fixed cost + Variable cost
= $24,000 + ($16 × 60,000)
= $24,000 + $960,000
= $984,000
We simply added the fixed cost and the variable cost in order to find out the budgeted total manufacturing cost
Answer: investment Income
Explanation: By Carrying the Investment at fair Value or by using equity method would ensure that the investment income is spread adequately across the Corporation over the years be it two years or three years. This would also help the corporation to make proper planning around their budget and finances as regards to units in the corporation.
Answer:
Explanation:
As we know that time interest earned ratio = Income before interest and taxes / interest expense.
Sales = 546000
less: cost of goods sold = (<u>244410</u>)
Gross profit 301590
Less: <u>expenses</u>
Depreciation expense =( <u>61900 </u>)
Profit before interest and taxes 239690
Less: tax
(239690 * 23%) = (<u>55128</u>)
Profit 184562
Profit - Retained earning Addition = Interest
184562 - 74300 = 110262.
Interest earned ratio = 239690 / 110262 = 2.17 times
In a business world, segregation of duties is important to have a sound internal control. The employee handing cash/check collection is prohibited from updating its customer's subsidiary ledger and recording of transactions in the books. This will eliminate fraud and misappropriation of funds.
