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miskamm [114]
2 years ago
11

Dawson Electronic Services had revenues of $106,000 and expenses of $63,000 for the year. Its assets at the beginning of the yea

r were $413,000. At the end of the year assets were worth $463,000. Calculate its return on assets.
Business
1 answer:
Kisachek [45]2 years ago
7 0

Answer:Return On Assets=9.8%

Explanation:

Return On Assets =Net income/Average total assets

But

Net income=Revenues-Expenses

=$106,000 - $63,000

= $43,000

And Average total assets  is given as  (Beginning assets +Ending assets)/2

= ($413,000+$463000)/2=$876,000 /2

=$438,000

Therefore Return On Assets =Net income/Average total assets

= $43,000 / $438,000

=0.098 x 100

=9.8%

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LO 2.2Which of the following is not considered a product cost?
Usimov [2.4K]

Answer:

selling expense

Explanation:

The cost which is charged to manufactured a product is known as product cost

Plus product cost is a combination of direct material; direct labor and indirect cost i.e indirect material and indirect cost

In mathematically,

Product cost = Direct materials cost + Direct labor cost + manufacturing overhead cost

The indirect cost is also known as manufacturing overhead cost.

The cost which is charged to manufactured a product is known as product cost

7 0
3 years ago
Andrews Corp. ended the year carrying $33,836,000 worth of inventory. Had they sold their entire inventory at their current pric
mamaluj [8]

Answer:

Revenue could be of amount $33,836,000

Explanation:

As the selling price is not given in the question, only the cost of the inventory is given, So,

We assume that the Sales quantity is X and the Selling Price per unit be Y

Then,

Sales = X × Y                              ............... Equation (1)

Less : COSG = $33,836,000     ................ Equation (2)

Net Income = 1 - 2

If the selling price is equal to the cost of the inventory which is $33,836,000. So, the only revenue which is to be added is the amount of $33,836,000.

Note: It totally depend or grounded on the Sales value.

6 0
3 years ago
Compute the standard cost for one hat, based on the following standards for each hat: Standard Material Quantity: 3/4 yard of fa
Paha777 [63]

Answer:

The standard cost for one hat is $ 11.65

Explanation:

The standard cost of a hat is determined after consider all the manufacturing costs components in it. Based on the data available, it is calculated as under:

Standard Material  3/4 yards @ $ 4 per yard                               $ 3.00

Standard Labor      1 hour at $ 5.75 per hour                               $ 5.75

Factory overhead   $ 2.90 per direct labor hour                         <u>$ 2.90</u>

Standard cost for one hat                                                           <u>$ 11.65</u>

The factory overhead has been considered at one hour, which is the direct labor hour in the standard calculation.

6 0
3 years ago
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vfiekz [6]
Don’t give out personal info and don’t cyber bully people, don’t judge them either.
6 0
2 years ago
Read 2 more answers
Athis Co. at the end of 2020, its first year of operations, prepared a reconciliation between pretax financial income and taxabl
Darina [25.2K]

Answer:

The answer is given below;

Explanation:

Income Tax Payable =1,800,000*30%=$540,000

Deferred Tax Asset=3,000,000*30%=$900,000

Deferred Tax liability=2,400,000*30%=$720,000

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The litigation expense will be deductible from taxable income when paid,therefore it will give deferred tax asset.

Profit on installment sales will give rise to more profits being subjected to taxes,therefore it gives rise to deferred tax liability.

4 0
3 years ago
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