Answer:
$93,840
Explanation:
Calculation to determine how much is the total budgeted variable selling and administrative expenses for October
October Total budgeted variable selling and administrative expenses=
(0.6 + 1.2 + 0.3 + 0.35) x 7200 +6000 + 39,000 + 7,200 + 24,000
October Total budgeted variable selling and administrative expenses=2.45x 7200 +6000 + 39,000 + 7,200 + 24,000
October Total budgeted variable selling and administrative expenses=$17,640+6000 + 39,000 + 7,200 + 24,000
October Total budgeted variable selling and administrative expenses=$93,840
Therefore the total budgeted variable selling and administrative expenses for October is $93,840
Answer:
A. $50,000
Explanation:
150,000 for a 3 year compaing = 50,000 per year
<u>The contract has just started </u>and the information available doesn't meet the criteria.
We must remember that <u>accounting has a principle of conservatism</u> regarding revenues. Accrue revenue without proper grounds is not correct. We should recognize the 1/3 of the base fee which is earned and matched the accounting cycle.
There are 3 systems as far as considering the percentage, they are progressive, regressive and proportional, progressive is good as the rate of tax increases proportionally as the income increases...taxes can be used for long term development projects which will eventually be fruitful for the economy.
Answer:
To reach full employment (reduce inflationary gap), government spending must fall by $8 million.
Explanation:
Multiplier = 1 / (1 - mpc) = 1 / (1 - 0.8) = 5
Output gap = Current GDP - Potential GDP = $100 - $60 = $40 million
Amount of change in government expenditure needed = Output gap / mpc = $40 / 5 = $8 million
Since the Potential GDP is less than the Current GDP, this implies that the government spending must fall by $8 million to reach full employment.
Therefore, to reach full employment (reduce inflationary gap), government spending must fall by $8 million.
Answer:
JOPLIN COMPANY
VARIABLE COSTING INCOME STATEMENT
Unit sold <u>275,000</u>
Sales $4,950,000
Variable cost :
Cost of Goods sold( $4,050,000-337,500 - 450,000) (3,262,500)
Selling and Administrative expense ( 275,000 - 165,000)<u> (110,000)</u>
Contribution 1,577,500
Fixed Cost:
manufactured cost 450,000
Selling and administrative expenses <u> 165,000 </u> <u>615,000</u>
Net Income <u> 962,500</u>
Explanation:
