The income statement is prepared first. The income statement i<span>s a financial statement
that reports the company's financial performance (profit and loss) over a specific
accounting period. It describes how the business incurs its revenues and expenses, and it is also referred as </span>profit and loss statement (P&L). With help of this report management knows if the business made money during the period reported.
Answer:
Total product A Sales = $132000
Total Product B Sales = $182000
Total Sales of Both Products = $314000
Explanation:
The Product A sales calculated using the formula = Budgeted Units Sold x Sales price Per Unit of Product A
Total Product A Sales = 12000 x $11 = $132000
The Product B sales calculated using the formula = Budgeted Units Sold x Sales price Per Unit of Product B
Total Product A Sales = 14000 x $13 = $182000
Total sales of Both product = Total Product A Sales + Total Product B Sales
Total Sales of Both Product = $132000 + $182000 = $314000
The budgeted sales for the Modesto Corp. is $314000
Iron ore, sugar, grains (rice & wheat)
Answer:
imports exceed exports by $50 billion.
Explanation:
Calculation to determine how much imports exceed exports
Gross Domestic Product $1.2 trillion
Less Consumption ($690 billion)
Less Investment ($200 billion)
Less Government spending ($260 billion)
($1.2 trillion-$690 billion-$200 billion-$260 billion)
Then:imports exceed exports by $50 billion
Answer:
a. $3,780,000
Explanation:
According to the scenario, calculation of the given data are as follows
New equipment = $3,600,000
Shipping and installation = $180,000
We can calculate the total cost of Martson's new equipment by using following formula,
Total Cost = New equipment cost + Shipping and Installation cost
By putting the value, we get
Total Cost = $3,600,000 + $180,000
= $3,780,000