$4 million.
An item is worth what the market is willing to pay for it, which is sometimes different than the estimated value.
Answer:
$3,000 and $9,000
Explanation:
In the income statement only four months revenue is recorded i.e from September 1 to December 31
= $9,000 × 4 months ÷ 12 months
= $3,000
And, under the operating activities the whole amount i.e $9,000 is to be recorded and added to the net income as it is inflow of cash and the same is added using the direct method of the cash flow statements
Answer:
$114 unfavorable
Explanation:
For computing the overall variable overhead efficiency variance first we have to need to find out the standard variable overhead rate which is shown below:
= ($11,680 + $41,900) ÷ 4,700 hours
= $11.4
Now the variable overhead efficiency variance is
= standard variable overhead rate × (Actual machine hours - standard machine hours)
= $11.4 × (4,740 machine hours - 4,730 machine hours)
= $114 unfavorable
This unfavorable indicates the actual hours are more than the standard hours
Answer:
Explanation:
pretax book income 1,003,000
warranties increased 25,600
depreciation exceeded tax depreciation 100,300
dividends received deduction -15,300
Net amount $1,113,600
Taxable amount is $1,113,600
In order to find income tax expense or benefit, multiply the taxable amount by tax rate.
