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3 years ago

What is a keogh plan?

1 answer:

5 0

A Keogh plan is a tax-deferred pension plan available to self-employed individuals or unincorporated businesses for retirement purposes. A Keogh plan can be set up as either a defined-benefit or a defined-contribution plan, although most plans are set as the latter.

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Your parents surprise you with a $500 check. as a result, the u.s. gdp decreases because you have to pay taxes on this income. r

Sidana [21]

I believe that the $500 cheque from your parents has already been counted when it was earned and therefore would neither increase or decrease GDP. GDP is defined basically as a bulk measure of production that is equal to the sum of all gross values of all units involved in production.

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4 years ago

Universities are typically organized by departments or colleges such as business, biology, engineering, political science, and s

Goshia [24]

The University creates many departments for different fields of study. This structure has been institutionalized since primitivity to enable group of people with same academic interest, and Long & short term career goals share ideas, knowledge and learn together in same environment. This structure is ideal and supportive and allows for complete focus on one's area of interest. However, this structure is currently being modified and may entirely change in the nearest future as there have being increasing overlaps between courses of different field. Multidisciplinary departments have come in handy with research that help in preserving humanity just as Biology is overlapping with different fields of study to find cure for the ravaging Covid-19.

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4 years ago

Which of the following is not an assumption of cost-volume-profit (CVP) analysis? A. The only factor that affects total costs is

e-lub [12.9K]

Answer:

D. The price per unit changes as volume changes.

Explanation:

According to the assumption of cost-volume-profit (CVP) analysis, the fixed cost will remain constant. It will never be changed. Because of the change in volume, the total cost would get affected that means the total cost amount is changed as compare before. As the volume changes, the price per unit is also the same.

So, the appropriate option is d. As the sales volume changes with the change in volume and the same are applied for variable cost.

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3 years ago

Crystal corporation makes $2,000 payments every month for leasing office equipment. crystal recorded a lease payment as follows:

Svetlanka [38]

Crystal corporation makes $2,000 payments every month for leasing office equipment. Crystal recorded a lease payment as an operating lease.

An operating lease is a lease that is commonly used for a short term basis and asset. The operating lease payment is found on the financial statement.

4 0

3 years ago

Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:

jenyasd209 [6]

Answer:

3. Sales Price 435 per unit

4. Variable cost $ 348 per unit

5. Contribution margin $ 87 per unit.

6. Contribution Format Income Statement

Explanation:

Todrick Company

Contribution Format Income Statement.

Sales $435,000

Beginning merchandise inventory $29,000

Purchases $290,000

Ending merchandise inventory $14,500

Direct Materials Used 304,500

Variable selling expense $ 21,750

Variable administrative expense $ ? 21750

Contribution margin $87,000

Fixed selling expense $ ? 43,500

Fixed administrative expense $17,400

Net operating income $26,100

Todrick Company

Traditional Format Income Statement.

Sales $435,000

Beginning merchandise inventory $29,000

Purchases $290,000

Ending merchandise inventory $14,500

Direct Materials Used 304,500

Gross Profit $ 130,500

Less Selling And Admin. Expenses.

Variable selling expense $ 21,750

Fixed selling expense $ ? 43,500

Variable administrative expense $ ? 21750

Fixed administrative expense $17,400

Net operating income $26,100

3. Sales Price Per unit = Total Sales/ Total Sales Units

= $435,000/1000= $ 435 per unit

4. Variable cost per unit= Total Variable Costs/ No of Units=

= 304,500 + 43,500/1000

= 348,000/1000= $ 348 per unit

5. Contribution margin per unit= Contribution Margin / No of Unit

= $87,000/1000= $ 87 per unit.

6. Contribution Format Income Statement is more useful as it changes with the number of units varied. Traditional may not show the change that accurately as fixed expenses do not change with the change in the number of units.And in contribution margin income statement the variable expenses are accounted for separately.

4 0

3 years ago