Answer:
Explanation:
Sales Revenue:
Proceeds from sales of Chair Division = 800*85=68000
Proceeds from sales of Cusion Division = 800*32=25600
Transfer to chair division from cusion division = 800*32 = 25600
Total Sales Revenue = 119200
Variable Cost - VC
VC Chair Division (800*42) = (33600)
VC Cusion Division (1600*13)=(20800)
Transfer cost = (800*13)=(10400)
Total Contribution = 119200-33600-20800-10400=54400
Answer:
This would affect the income statement by having expenses
c. understated and therefore net income overstated revenues
Explanation:
Adjusting Entry:
It is such entry which is added at the end of the fiscal period in order to make the income statement accurate.
Overstated:
In Accounting, overstated amount means that amount is greater than the true amount.
Understated:
In Accounting, if an amount is less than the true amount then it is known as understated.
- As in our case, the adjusting entry for supplies was not added so in this way expenses became understated means they become less as compared to actual expenses. Therefore, revenues overstated.
Answer:
A. $7,350
Explanation:
The computation of the vested benefit is shown below:
= Average salary × given percentage × five years × vesting percentage
= $70,000 × 3.5% × 5 years × 60%
= $7,350
Hence, the correct option is A.
<span>A great reason to revise her monthly budget is that Christine can adjust her planning to meet her specific goals. While sticking to long term goals may be a good idea for some, if that is not possible adjusting your budget is a good way to keep track of income and expenses and to make sure that you do not spend more than you should.</span>
Answer:
47,000
Explanation:
Impairment Loss = Book Value − Fair Value
$180,500 − $133,500 = $47,000
