Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations:
Variable costs per unit:
Manufacturing:
Direct materials $ 6
Direct labor $ 9
Variable manufacturing overhead $ 3
Variable selling and administrative $ 4
Fixed costs per year:
Fixed manufacturing overhead $ 300.000
Fixed selling and administrative $ 190.000
During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.
The four steps of writing an income declaration are: to identify sources of sales, in addition to profits from investments, for an instance pick out business enterprise prices and losses incurred over the same period. Consolidate sales, charges, profits, and losses by means of category, payee, or some other factor.
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Answer:
U.S. dollars = 14.012 U.S. dollars
Explanation:
Below is the exchange rate:
0.92777 Canadian dollars = 1 U.S dollars
Thus to find the amount of U.S. dollars bought from the 13 Canadian dollars, just divide the 13 Canadian dollars from 0.92777. Therefore the resulting answer will be the U.S. dollars.
U.S. dollars = 13 / 0.92777
U.S. dollars = 14.012 U.S. dollars
Answer:
4. The total market demand has not changed
the demand has been adjusted by a change in supply
Explanation:
Movement along a demand curve results from changes in the price of the product. Supply influences price change. Movement along a demand curve means the quantity demanded has increased or decreased due to a price change.
A total change in demand is when the quantity demanded changes at all prices. Changes in customers' preferences or a change in the prices of compliment or supplement products make the entire demand change.
A shift in the demand curve demonstrates a total chan
Answer: ANSWER: Pure
Explanation: Only pure risks are insurable because they involve only the chance of loss. They are pure in the sense that they do not mix both profits and losses. ... Both speculative risk and pure risk involve the possibility of loss. However, speculative risk also involves the possibility of gain as well - even if there is no loss.
Answer:
b.the net income (net loss) for the period
Explanation:
The owner's capital account is an account that records the proprietor's stake in the business. It shows the current value of the business assets. The owner's capital account is also called an equity account. An increase or decrease in capital or assets is recorded in the account.
If the business generates a profit, the owner's equity increases, a loss reduces owners' assets. At the end of the period, the business has to prepare an income statement showing the net gain or loss. The gain or loss will be posted on the owner's capital account.
