Answer:
Instructions are below.
Explanation:
Giving the following information:
Units Produced 20,000
Units Sold 17,000
Unit Sales Price $ 240
Full Manufacturing Cost Per Unit $97
<u>Under the absorption costing method, the fixed manufacturing overhead is part of the product cost.</u>
Income statement:
Sales= (17,000*240)= 4,080,000
Cost of goods sold= (17,000*97)= (1,649,000)
Gross profit= 2,431,000
Variable Selling Expenses= (71,000)
Fixed General and Administrative Costs= (88,000)
Net operating income= 2,272,000
Answer:
the amount of net income or loss is $39,285
Explanation:
The computation of the amount of net income or loss is shown below:
= Net income + interest earned + unearned revenue - salaries & wages - prepaid insurance
= $38,775 + $375 + $805 - $395 - $275
= $39,285
hence, the amount of net income or loss is $39,285
The same should be considered and relevant
Total investment = $19000
Three investments
A. 10% per annum = $X
(Assumed simple interest, since compounding period not known)
B. low risk stock at 2% = (19000-X)/2
C. high risk stock at 40% = (19000-X)/2
Value at the end of one year
10%(X)+2%(19000-X)/2+40%(19000-X)/2 = 22440-19000
Simplify
0.1X+190-0.01X+3800-0.2X=22400-19000
0.11X=3990-3440
X=550/0.11=5000
So investments are $5000 on private company, (19000-5000)/2=7000 on low risk, and 7000 on high-risk.
