The incremental income to process further for Maxim company equals to $30,000.
<h3>What is an Incremental income?</h3>
This means the profit that a business gains from an increase in sales.
It is gotten when there is an additional revenue generated by a certain product.
The Net income to be generated from Green health equals:
= Revenue - Cost
= $90,000 - $28,000
= $62,000
The Net income to be generated from Premium Green equals:
= Revenue - Extra cost
= $98,000 - $6,000
=$92,000
<h3>What is Incremental income to Process further?</h3>
= $92,000 - $62,000
= $30,000
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Answer:
Explanation:
The journal entries are shown below:
On January 1
Copyright A/c Dr $420,000
To Cash A/c $420,000
(Being copyright is purchased)
On December 31
Amortization A/c Dr $42,000
To Accumulated amortization A/c $42,000
(Being annual amortization is recorded)
The computation is shown below:
= Purchase value of copyright ÷ number of goods years
= $420,000 ÷ 10 years
= $42,000
Answer:
1.23
Explanation:
Inventory turnover is a ratio showing how many times a company has sold and replaced inventory during a given period.
Cost of Sales=Opening Inventory+Purchases-Closing Inventory
=5,500+4,000-3,800= 5,700
Average Inventory= Opening + Closing/2
= 5,500+3,800/2= 4,650
Inventory Turnover Ratio= <u>Cost of Sales</u>
Avg Inventory
= 5,700/4,650=1.23
Answer:
the ending inventory using the FIFO cost flow assumption is $282,900
Explanation:
The computation of the ending inventory using the FIFO cost flow assumption is shown below;
But before that first we have to determine the ending inventory units i.e.
= 280 + 380 + 480 + 290 - 1,200
= 230 units
So, the ending inventory is
= 230 units × $1,230
= $282,900
Hence, the ending inventory using the FIFO cost flow assumption is $282,900
