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alexdok [17]
3 years ago
6

The following information was extracted from the 2014 financial statements of Max Company: Income from continuing operations bef

ore income tax $470,000 Selling and administrative expenses 320,000 Income from continuing operations 329,000 Gross profit 900,000 Income before extraordinary item 290,000 The amount reported for other expenses and losses is:_________ a. $141,000 b. $39,000. c. $110,000. d. $150,000.
Business
1 answer:
Lera25 [3.4K]3 years ago
8 0

Answer:

c. $110,000

Explanation:

The computation of the amount reported for other expenses and losses is shown below;

= Gross profit - Selling and administrative expenses - Income from continuing operations before income tax

= $900,000 - $320,000 - $470,000

= $110,000

Hence, the option c is correct

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Luma Inc. has provided the following data concerning one of the products in its standard cost system.Col1 Inputs Direct material
polet [3.4K]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Standard cost= 6.90 per ounce

Standard quantity= 4.8 ounces per unit

Actual output 2,100units

Actual price of raw materials $7.80 per ounce

Actual cost of raw materials purchased $81,900

Raw materials used in production 10,090 ounces.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (6.9 - 7.8)*10,090= $9,081 unfavorable

3 0
3 years ago
Please subscribe to me on you tube the channel is : Kallen Buzzard it would mean bunches!! God Bless Everyone!!!
Olenka [21]

Answer:

1+1==0000000000

Explanation:

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4 0
3 years ago
Tanner Service Company reported an annual sales revenue of $560,000 in 2019. During the year, accounts receivable decreased from
otez555 [7]

Answer:

$563,700

Explanation:

Calculation of cash is as seen below.

Sales revenue. $560,000

Add: Decrease in accounts receivable ($22,500 - $18,800) $3,700

Cash received from customers. $563,700.

Note: other information given in the question are not relevant for the computation of cash received from customers for the year.

Therefore, cash received from customers for the year is $563,700

4 0
3 years ago
Which accountants-only tool enables you to categorize a couple of transactions or a large batch of transactions in only a few cl
Paha777 [63]

Answer: Reclassify Transactions

Explanation:

The accountants-only tool that enables one to be able to categorize a couple of transactions or a large batch of transactions in only a few clicks is referred to as the reclassify transactions.

In order to reclassify transactions, one has to find the transactions that the accountant wants to reclassify first, after which the transactions would then be reclassified and then moved.

6 0
3 years ago
Sheridan Company uses a periodic inventory system. For April, when the company sold 650 units, the following information is avai
Rzqust [24]

Answer:

$27.18 per unit

Explanation:

The computation of the average cost per unit is shown below:

= (Beginning inventory units × price per unit + purchase inventory units × price per unit + purchase inventory units × price per unit ) ÷ (Beginning inventory units + purchase inventory units + purchase inventory units)

= (350 units × $24 + 370 units × $29 + 280 units × $31) ÷ (350 units + 370 units + 280 units)

= ($8,400 + $10,730 + $8,680) ÷ (1,000 units)

= ($ 27,810) ÷ (1,000 units)

= $27.18 per unit

6 0
3 years ago
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