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Serga [27]
2 years ago
12

Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $26,000

after deducting variable costs of $72,000 and fixed costs of $10,000. Based on this information, the budgeted amounts of fixed and variable costs for 15,000 units would be
Business
1 answer:
dexar [7]2 years ago
8 0

Answer:

Fixed Cost = $10,000

Variable Costs = $90,000

Explanation:

Variable Cost per unit = $72,000 ÷ 12,000

                                      = $6

Variable Costs at 15,000 units = $6 x 15,000

                                                   = $90,000

Fixed Cost (given) = $10,000

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On March 15, Summit Hawk declares a quarterly cash dividend of $0.085 per share payable on April 13 to all stockholders of recor
Sedaia [141]

The journal entries to  Summit Hawk's declaration and payment of cash dividends is: Debit Dividend  $18,530,000; Credit  Dividend payable   $18,530,000

<h3>Journal entries</h3>

March 15

Debit Dividend  $18,530,000

(218,000,000 shares × $0.085)

Credit  Dividend payable   $18,530,000

(To record cash dividend declaration)  

March 30

No entry

April 13

Debit Dividend payable     $18,530,000

(218,000,000 shares × $0.085)

Credit  Cash     $18,530,000

(To record payment of cash dividend)


Therefore the journal entries to  Summit Hawk's declaration and payment of cash dividends is: Debit Dividend  $18,530,000; Credit  Dividend payable   $18,530,000.

Learn more about journal entries here:brainly.com/question/14017973

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6 0
2 years ago
The town of Gracie has established a permanent fund to account for numerous significant gifts intended to maintain a cemetery in
Viktor [21]

Answer: B. Restricted Fund Balance

Explanation:

A Restricted Fund is created when the source of the funds sets certain stipulations for the use of the money which in this case is that the monies should be used for the maintenance of the cemetery. The monies will therefore be restricted to that use alone.

The Unspent Investment Earnings will be reinvested in the Permanent fund at the end of the year. The Permanent Fund is a Restricted fund account therefore the Unspent earnings will be classified as a Restricted fund balance as well.

4 0
3 years ago
When Jack was first hired at Acme Global, he was assigned to a virtual mentoring group of new employees and managers before his
Anon25 [30]

Answer:

The answer to this question is  C. Training and Development

Explanation:

Assigning Jack to a virtual mentoring group to learn about the culture of ACME global is an example of how social media helps business.

Before resumption of duties, the New employees alongside Jack would have been familiarized with the environment they will be working in and would have been exposed to some required knowledge they are suppose to have about their jobs and about the organisation itself.

Hence the scenario above is an example of how social media is used in  Training and Development  

8 0
3 years ago
Leather Company makes two types of women's handbags. Making a standard handbag requires 2 hours of labor while making a deluxe h
Rudik [331]

Answer:

C. $16 of overhead cost should be assigned to each standard handbag and $40 of overhead cost should be assigned to each deluxe bag.

Explanation:

Given that

Total indirect manufacturing expected = $52000

And,

Total hours required to manufacture handbags is

= (2,000 standard handbags × 2 hours) + (500 deluxe handbags × 5 hours)  

= 4,000 + 2,500

= 6,500

So,

Indirect cost per hour is

= $52000 ÷ 6500

= $8 per hour

Now

Cost allocated to standard handbags is

= $8 × 2

= $16

And, for deluxe handbag it is

= $8 × 5

= $40

6 0
3 years ago
Suppose a professional basketball game is to be played at a suburbansuburban ​arena, which increases demand for parking on the n
antoniya [11.8K]
<span>If the local area is able to supply the extra needed parking then the price they can charge will increase for the night the game is taking place as the demand has increased and the supply can be expected to fill up regardless of the increase in price.</span>
4 0
3 years ago
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