Answer:
EPS = $1.9825
Explanation:
EPS (earnings per share) = Net Income / shares of common stock outstanding
Income before taxes = $592,000 - $284,000 - $36,000 - $28,000 = $244,000
Tax = $244,000 x 35% = $85,400
Net Income = $244,000 - $85,400 = $158,600
EPS = $158,600 / 80,000 = $1.9825
Hope this helps!
Answer:
Allocated overhead= $1,430,600
Explanation:
Giving the following information:
The company's executives estimated that direct labor would be $3,750,000 (250,000 hours at $15/hour) and that factory overhead would be $1,550,000 for the current period.
The records show that there had been 230,000 hours of direct labor.
Using direct labor hours as a base.
Predetermined overhead rate= total estimated manfacturing overhead for the period/ total amount of allocation base
Predetermined overhead rate= 1555000/250000= $6.22 per hour
Allocated overhead= Predetermined overhead rate*actual hours= 6.22* 230000= $1,430,600
Answer:
Balance sheet is the correct answer because it tells about the worth of company, its assets, shareholders funds (Equity) and amount borrowed by the company (Liability). Balance sheet is also known as Statement of Financial Position (SOFP)
All the other options tells about the earnings and costs of the company not about the assets and liabilities of the company.
