Answer:
Sales Revenues 392,500
Sales Returns (20,000)
Freight outs <u> (9,700) </u>
Net Sales 362,800
Cost of good sold (221,000)
Gross profit 141,800
Operating Expenses
Rent expense (33,500)
nsurance expense (14,600)
Salaries and wages expense<u> (63,400) </u>
Operating Income 30,300
Income tax expense (4,300)
Net Income 26,000
Other comprehensive income 2,000
Comprehensive Income 28,000
Explanation:
the OCI is listed after-taxed thus do not change the total income tax expense
comprehensive income will be the sum of both concepts net income and OCI
Answer:
Option (D) is correct.
Explanation:
Myer's product costs is as follows:
= Manufacturing Equipment Depreciation + Indirect Materials Used + Indirect Labour + Factory repair and Maintenance + Direct Materials Used + Direct Labor
= $1,600 + $1,600 + $11,000 + $980 + $24,500 + $44,000
= $83,680
Therefore, the Myer's product costs were $83,680.
Answer:
(a) Operating income will increase.
(b) Effect on the operating cash flow is an increase.
Explanation:
The answers above depend on the volume of sales, if a comparative analysis is done. If volume of credit sales was low when the rate was 2%, and now that it is reduced the credit sales increases significantly, the bad debt expense in this cash might be minutely different.
Definitely, operating income and operating cash flows will increase in absolute terms since lower bad debt expense rate is applied on credit sales.
Answer:
The organization I chose is the Sierra Student Coalition because I want to protect the environment "The Sierra Club is the most enduring and influential grassroots environmental organization in the United States. We amplify the power of our 3.5+ million members and supporters to defend everyone’s right to a healthy world."
The goals and purposes of this organization. are:
Organizing persons from 14 to 28 years old, in their communities on issues of climate, environmental, and social justice.
The benefits, duties, and responsibilities of being a member of the student organization.
As a memeber the responsibility is to get involve in the campaigns (marchs, learning activities) that solve problems such as air, water and land pollution and protecting wildlife.
To be involve in any student organization gives life perspective to have a sense of direction in your life and to work towards specific goals. It also helps constructing networks.
The opportunities provided by this organization for developing leadership skills are:
The Sierra Student Coalition has different programs to participate towards the goal of developing an strong environmental conscience one of the is a a 10 week program called:<em><u> Climate Justice League</u></em> in which I might attain the following skills:
- Developed leadership by taking action on climate and environmental justice in your campus or community.
- Cultivated relationships with other Organizing Fellows across the United States and in Puerto Rico.
- Received support and training from experienced organizers on how to effectively fight for climate justice in your community
Another is the <em><u>Sprog (summer program) </u></em>is a one-week leadership training program that teaches tools for environmental and social justice activism to young people across the country.
- Campaign Planning: identifying campaign goals and targets, writing strategy statements, crafting tactics, using a campaign matrix
- Leadership Development: building effective bases and coalitions, working with communities, demonstrating self-care and personal productivity, facilitating group discussions
- Anti-Oppression: identifying and confronting oppression, running campaigns for justice, emphasizing anti-oppression as central to all environmental organizing
- Media: creating outreach material, interacting with reporters, writing Op-Eds, holding press conferences
Answer: $646,000
Explanation:
Cash payment for the month of September
August pmt = $610,000x 70%= $427,000
September pmt = $730,000 x 30%= $219,000
Total payment in September = $427,000 + $219,000 = $646,000