Answer:
$11,400
Explanation:
Income Statement
For the year ended December 31, 2019
Particulars Amount
<u>Revenues</u>
Service revenue $37,900
<u>Expense</u>
Salaries & wages expense $16,000
Insurance expense $2,900
Rent expense $3,400
Supplies expense $2,500
Depreciation expense <u>$1,700</u>
Total expenses <u>$26,500</u>
Net income (loss) <u>$11,400</u>
Answer:
$5,354,741
Explanation:
assets:
cash $3,290,558
inventory $2,657,360
accounts receivable $577,102
fixed assets $4,019,047
total assets = $10,544,067
liabilities:
accruals $576,944
accounts payable $2,519,541
notes payable $610,904
long-term debt $1,481,937
total liabilities = $5,189,326
equity = assets - liabilities = $10,544,067 - $5,189,326 = $5,354,741
Answer:
$4,900
Explanation:
Given that,
Total cost at a production level of 400 units = $8,500
Each unit of pulp requires = 6 direct labor hours
Variable cost = $1.50 per direct labor hour
Total variable cost:
= Cost per direct labor hour × Direct labor hours required for each unit × No. of units produced
= $1.50 × 6 × 400
= $3,600
Total cost is sum total of total fixed cost and total variable cost.
Total cost = Total fixed cost + Total variable cost
$8,500 = Total fixed cost + $3,600
$8,500 - $3,600 = Total fixed cost
$4,900 = Total fixed cost
If a consumer believes that the price of the good will be higher in the future he is more likely to purchase the good now. If the consumer expects that her income will be higher in the future the consumer may buy the good now. In other words positive expectations about future income may encourage present consumption.
