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stiks02 [169]
2 years ago
5

How does paying the minimum on a credit card hurt?

Business
1 answer:
Sergeeva-Olga [200]2 years ago
6 0

Answer:

If you only pay the minimum each month, your debt might become spread out over a longer period of time and interest charges may increase over time. This is not an effective strategy, and depending on the provider, you may end up paying more that what you needed to pay off.

Explanation:

Hope this helped!

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The following selected information was extracted from the 20x1 accounting records of Lone Oak Products:
joja [24]

Answer:

1. $513,000

2. $913,200

3. $926,400

4. $154,420

5.11340 Units

Explanation:

1. Calculation for Lone Oak’s manufacturing overhead for the year.

Manufacturing overhead

Indirect labor 109,000

Building depreciation (80000*75%) 60,000

Other factory cost 344,000

Manufacturing overhead $513,000

2. Calculation for Lone Oak’s cost of goods manufactured.

First step is to calculate the Direct material used

Direct material used = 15,800+175000-18200

Direct material used= 172,600

Second step is to calculate the Total manufacturing cost

Total manufacturing cost = 172,600+254,000+513,000

Total manufacturing cost= 939,600

Now let calculate the Cost of goods manufactured

Cost of goods manufactured = 35,700+939,600-62100

Cost of goods manufactured = $913,200

3. Compution for the company’s cost of goods sold.

Cost of goods sold = 111100+913,200-97900

Cost of goods sold = $926,400

4. Calculation to Determine net income for 20x1, assuming a 30% income tax rate.

Net income :

Sales 1495000

Cost of goods sold -926,400

Gross profit 568,609

Selling and administrative expense (133000+20000+195000) 348000

Profit 220,600

Tax 30% 66,180

Net income $154,420

(220,600-66,180)

(25%*80,000=20,000)

5. Calculation to Determine the number of completed units manufactured during theyear.

No of unit completed = 1190+(1,495,000/$130 per unit)-1350

No of unit completed =1190+11500-1350

No of unit completed = 11340 Units

7 0
3 years ago
In monopolistic competition, what effect do price variations generally have on the market as a whole
irinina [24]

In monopolistic competition, what effect do price variations generally have on the market as a whole?

It's no effect. 
4 0
3 years ago
Naida Baronowski is an American fashion designer who has a design firm in Chicago. Naida has been successful in the U.S. and wan
Artist 52 [7]
D. Sorry if im wrong
8 0
3 years ago
Which of the following statements is FALSE?A. The income statement is put together at a specific point in time​ (end of a busine
skelet666 [1.2K]

Answer:

C. Depreciation is a current expense of a cash outflow in the current period.

FALSE depreciation is a deferral expense it do not related t oa cash flow

Explanation:

A. The income statement is put together at a specific point in time​ (end of a business​ quarter, or business​ year) and so the sale could be in one period and the cash received in another period.

CORRECT income statement end at a certain date and include transaction under accrual accounting which doesn't relate to cash disbursements or collection

B. The income statement contains the set of expenses associated with the products or services sold during the current operating​ period, with those expenses not associated with current cash flow labeled as nonminuscash expense items

CORRECT It works with accrual accounting

D. Companies depreciate fixed assets​ (such as office​ furniture, equipment,​ machinery, and​ buildings) over an assigned time​ period, but the initial cash outlay for the fixed asset typically occurs at the time the asset is acquired by the firm.

CORRECT the cash disbursements occurs at time zero. Then, the accounting distributes this over several period to decrease the impact in the first period

5 0
3 years ago
The following data are for Lily Kay Company. Total sales revenue $250,000 Number of units sold 50,000 units Contribution margin
eduard

Answer:

b. 51,429 units

Explanation:

If x = Number of units

Net Income = Sales Revenue - Variable Cost - Fixed Cost

or

Net Income = Contribution Margin - Fixed Cost

where,

Net Income = $80,000

Contribution Margin per unit = $3.50

Fixed Cost = $100,000

Contribution Margin = Net Income + Fixed Cost

$3.50x = $80,000 + $100,000

$3.50x = $180,000

Dividing the above equation by $3.50 we get

x = $180,000 / $3.50

x = 51,429 units

Hence 51,429 number of units must be sold to generate the net income of $80,000.

3 0
2 years ago
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