Answer:
False
Explanation:
The formula for equivalent units units as follows:
Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred
Therefore, ideally,
Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.
As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.
<u>Therefore, above statement is false.</u>
Answer:
Contribution margin ratio = 1 - variable cost ratio
= 25%
(a) 
= 1,400,000
= 25,000
(b) For profit of $42,000,
= 1,568,000
= 28,000
(c) variable cost = sales price × variable cost ratio
= $56 × 75%
= $42
New contribution margin = 
New contribution margin = 
= 0.4
= 40%
= $875,000
= 12,500
Answer:
The given statement is "True".
Explanation:
- Feedback would be a significant aspect in improving the accomplishment or organization's success.
- Requesting or waiting for such feedback might contribute to less and less input, although the organization must request for input, this same person might communicate with the organization by requesting comments.
Thus the above is the correct answer.
Answer:
O'Hara Marine Co.
Depreciation Expense is:
$13,903
Explanation:
a) Data and Calculations:
sales = $75,500;
costs = $35,200;
addition to retained earnings = $9,580;
dividends paid = $8,420;
interest expense = $2,620;
tax rate = 23 percent
Net Income:
addition to retained earnings = $9,580;
dividends paid = $8,420
Total net income = $18,000
Pre-tax Income = $18,000/0.77 = $23,377
Income tax (23%) of $23,377 = $5,377
After Tax Income = $18,000 ($23,377 - 5,377)
Depreciation:
sales = $75,500
costs = $35,200
Gross profit = $40,300
Less interest (2,620)
Less net income (23,777)
Depreciation = $13,903
