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victus00 [196]
2 years ago
12

The adjusted trial balance of Sunland Company shows these data pertaining to sales at the end of its fiscal year, October 31, 20

22: Sales Revenue $903,400; Freight-Out $13,700; Sales Returns and Allowances $22,000; and Sales Discounts $15,400. Prepare the sales section of the income statement.
Business
1 answer:
sveta [45]2 years ago
7 0

Answer and Explanation:

The preparation of the sales section of the income statement is presented below:

<u>Income Statement </u>

<u>For the year ended </u>

Sales  

Sales revenue  $903,400

Less:  

Sales Discount  $15,400  

Sales return & allowances  $22,000  

Net Sales         $866,000

hence the net sales is $866,000

The freight out would not be considered. Hence, ignored it

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Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct l
GarryVolchara [31]

Answer:

$4,089 Unfavorable

Explanation:

Data provided

Standard variable rate = $9.20

Direct labor hours = 1,160

Variable manufacturing overhead costs = $14,761

The computation of variable overhead rate variance is shown below:-

Variable overhead rate variance = (Standard variable rate - (Variable manufacturing overhead costs ÷ Direct labor hours)) × Direct labor hours

= ($9.20 - ($14,761 ÷ 1,160) × 1,160

= ($9.20 - $12.725) × 1160

= $4,089 Unfavorable

Therefore for computing the variable overhead rate variance we simply applied the above formula.

7 0
3 years ago
1. Match each term with the correct definition. LO1.1 economics opportunity cost marginal analysis utility a. The next-best thin
Stolb23 [73]

Answer:

d. Making choices based on comparing marginal benefits with marginal costs

Explanation:

Opportunity Cost Marginal Analysis in Economics helps managers to understand the idea of opportunity cost in making an additional input for output. Presume a manager realizes that there is space in the budget to employ an additional worker. Marginal analysis tells the manager that an additional worker provides net marginal benefit or not and the manager then decides if to hire one more worker or forgo it for an alternative.

6 0
3 years ago
Costanza Company experienced the following events and transactions during July.
pshichka [43]

Answer:

Following is attached the solution for each part as required.

I hope it will help you a lot!

Explanation:

3 0
3 years ago
Explain the difference between an absolute minimum and a local minimum.
Crank

Answer: An absolute minimum occurs at the x value where the function is the smallest, while a local minimum occurs at an x value if the function is smaller there than points around it (i.e. an open interval around it)

5 0
3 years ago
McDougan Associates, a U.S. based investment partnership, borrows EUR 80,000,000 at a time when the exchange rate is USD1.3460/E
ivolga24 [154]

Answer:

The effective cost of this loan for McDougan Associates: 3.06%.

Explanation:

* The exchange rate over the 3-year of borrowing is:

Y1: USD/EUR: 1.3460 x ( 1 -3%) = 1.3056

Y2: USD/EUR: 1.3460 x ( 1 -3%)^2 = 1.2665

Y3: USD/EUR: 1.3460 x ( 1 -3%)^3 = 1.2285

* Interest payment in USD at each year are and principal payment at the end of 3 years:

Y1: 80,000,000 x 6.250% x 1.3056 = $6,528,000

Y2: 80,000,000 x 6.250% x 1.2665 = $6,332,500

Y3: (80,000,000 x 6.250%+80,000,000) x 1.2285 = $104,422,500.

* Principal borrowing at the beginning in term of USD = 80,000,000 x 1.3460 = $107,680,000.

=> Effective cost of this loan ( denoted as x) is equal to the discount rate of future repayment ( in term of USD) that equalize the net present value of future repayment to its principal borrowing:

6,528,000/ (1+x) + 6,332,500/(1+x)^2 + 104,422,500/(1+x)^3 = 107,680,000 <=> x = 3.06%

Thus, Effective cost of this loan is 3.06%.

7 0
3 years ago
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