PLEASE HELP!!! I NEED HELP WITH THE WHOLE TEST SOMEONE PLS HELP

The following information relates to Wildhorse Co. for the year ended December 31, 2020: net income $1,305 million; unrealized h

Bess [88]

Answer:

a. The Other comprehensive income for 2017 is $-11.2 million

b. The Comprehensive income for 2017 is $1,293.8 million

c. The Accumulated other comprehensive income at December 31, 2017 is $45.2 million

Explanation:

a. According to the given data the company incurred a loss of $11.2 million as an unrealized income from available-for-sale debt securities. It is the actual loss.

Therefore, other comprehensive income is (-$11.2) million.

b. In order to calculate the Comprehensive income for 2017 we would have to use the following formula:

Comprehensive income=Net income−Unrealised holding loss

=$1,305 million−$11.2million

=$1,293.8 million

Therefore, comprehensive income for 2017 is $1,293.8 million

c. In ordert to Calculate the accumulated other comprehensive income we would have to use the following formula:

Accumulated comprehensive income = Existing income−Unrealised holding loss

=$56.4million−$11.2million

=$45.2million

The Accumulated other comprehensive income at December 31, 2017 is $45.2 million

5 0

3 years ago

If a special sales order is accepted for 8,100 widgets at a price of $39 per unit, and fixed costs increase by $13,000, how

Lana71 [14]

Answer:

D) Increase by $68,000

Explanation:

The computation of change in the operating income is shown below:

Sales ( 8,100 widgets × $39) $315,900

Less: Variable cost (8,100 widgets × $29) ($234,900)

Contribution margin $81,000

Less: Increase in fixed assets -$13,000

Net income increased $68,000

We simply applying the above format so that the change in the operating income could be find out. Since the net income is in positive so it shows an increment

8 0

3 years ago

which statement regarding variable overhead variance analysis is true? multiple choice question. the variable overhead efficienc

galben [10]

The variable overhead efficiency variance uses exactly same inputs as direct labor efficiency variance statement regarding the variable overhead variance analysis is true.

<h3>What is variable overhead?</h3>

The varying production costs a business incurs while operating are referred to as "variable overhead." As industrial output changes, so do variable overhead expenses. Different from variable overhead are the general expenditures associated with administrative tasks and other operations that have predetermined budgetary requirements. Organizations need to understand variable costs clearly in order to prevent overspending, which can reduce profit margins. They will be able to precisely set prices for future products thanks to this. For businesses to succeed and stay in operation, they must invest money in the development and promotion of their goods and services. The term "overhead" refers to all costs related to operating a firm, such as managers, salespeople, and marketers for both the corporate office and the manufacturing plants.

To learn more about variable overhead, visit:

brainly.com/question/27993032

#SPJ4

6 0

10 months ago

Importance of strategic planning

irga5000 [103]

Huh? What are u asking

6 0

3 years ago

Read 2 more answers

Fixed vs Variable cost preference. Bates operates a kiosk at a local mall, selling duck calls for $30 each. The variable cost to

GuDViN [60]

Answer:

Option 2 should be selected

Explanation:

Using a rational approach which option most benefit and have a minimum cost. We will use the break-even level here to decide which option should be selected.

Option 1

Price per call = $30

Variable cost per call = $18

Contribution = Sales - Variable cost = $30 - $18 = $12

Fixed Cost = $15,000

Break-even point = Fixed cost / Contribution per call = $15,000 / $12 = 1,250 calls

Option 2

Price per call = $30

Variable cost per call = $18 + ( $30 x 10% ) = $18 + $3 = $21

Contribution = Sales - Variable cost = $30 - $21 = $9

Fixed Cost = $9,000

Break-even point = Fixed cost / Contribution per call = $9,000 / $9 = 1,000 calls

Difference = 1,250 calls - 1,000 calls = 250 calls

Option 2 is better option because it take 250 less calls to reach at break-even in the month. It should be selected.

8 0

2 years ago