Answer:
Net Income $ 495,000
Explanation:
The net income represent the amount that would be left after all expenses have been deducted from all the sales revenue.
$
Sales revenue 4,597,000
Cost of goods sold <u>(3,399,000)</u>
Gross profit 1,198,000
Operating expenses <u> (448,000)</u>
Profit before taxes 750,000
Taxes (34%×750,000) <u> (255,000)
</u>
Net Income <u> 495,000
</u>
Answer:
Note: We can see the organized table as attached as picture below
The following shows the matching of the given examples with their respective categories:
Values Folkways Mores
Freedom Japanese business etiquette Theft
Role of women Time orientation Use of alcohol
<u>Answer: </u>Option 2 discretionary
<u>Explanation:</u>
Spending can be mandatory spending or discretionary spending. Mandatory spending means the spending on essentials goods such as food. Discretionary spending means the spending on recreation and entertainment where people have additional money in hand after meeting their necessary expenses.
In this speech Obama speaks about the non essential expenses when they are controlled more investments can be made. He says when all the departments cut down their discretionary expenses then can result in economic growth.
Answer:
The $1,200,000 should be accounted for in Grove’s special revenue funds
Explanation:
Special revenue fund: The special revenue fund is a fund that is introduced by the government to collect the money from the public. It is made to fulfill the need for specific purposes/ projects.
The computation of special revenue funds is shown below:
= Income received for providing the meals to the needy people + financing of sales tax with respect to tourist facilities maintenance in the shopping district
= $300,000 + $900,000
= $1,200,000
Answer:
b.$487,900.
Explanation:
Underapplied overhead occurs when the actual amount of manufacturing overhead incurred is higher than expected.
Since the manufacturing overhead for the year was underapplied by $23,540 in the question, the estimated manufacturing overhead at the beginning of the year used in the predetermined overhead can be calculated just deducting $23,540 form the actual as follows:
Estimated manufacturing overhead at the beginning of the year = $511,440 - $23,540 = $487,900.
