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3 years ago

Which is not a way you can check your account balance?

1 answer:

5 0

Answer: Which is not a way you can check your account balance? Contact the FDIC/NCUA. What is a transaction that has not been processed yet by a financial insitution? A pending transaction.

Explanation:

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The following account balances were taken from the 2021 adjusted trial balance of the Bowler Corporation: sales revenue, $485,00

jekas [21]

Answer:

Bowler Corporation

Income Statement for 2021

Sales revenue $485,000

Less Cost of goods sold ($248,000)

Gross Profit $237,000

Less Expenses

salaries expense $61,000

rent expense $36,000

depreciation expense $46,000

miscellaneous expense $28,000 ($171,000)

Net Income/ (Loss) $66,000

Explanation:

Income Statement shows the Operating performance of the the company over the financial period.

Income/loss = Sales - Expenses.

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3 years ago

Absorption and Variable Costing Comparisons: Production Equals Sales Assume that Smuckers manufactures and sells 30,000 cases of

pantera1 [17]

Answer:

a:Total Variable Costs $26

a:Total Manufacturing Costs = $ 30

b:Net Income Variable Costing $100,000

b: Net Income Absorption Costing $ 100,000

Explanation:

Smuckers Manufacturers

Costs per case under Variable Costing

Direct materials per case 16

Direct labor per case 7

Variable manufacturing overhead per case 3

Total Variable Costs $26

Costs per case under Absorption Costing

Direct materials (30,000*16) 480,000

Direct labor (30,000*7) 210,000

Variable manufacturing overhead (30,000*3) 90,000

Total Variable Costs 780,000

Total fixed manufacturing overhead $120,000

Total Manufacturing Costs $ 900,000

Total Manufacturing Costs per Case= $ 900,000/ 30,000= $ 30

The difference between the variable and absorption costing is that the product costs include variable and fixed costs in absorption costing. But in variable costing the product costs include only variable costs.

SMUCKERS

Variable Costing Income Statement

For the Third Quarter of 2017

Sales (30,000*34) 1020,000

Direct materials (30,000*16) 480,000

Direct labor (30,000*7) 210,000

Variable manufacturing overhead (30,000*3) 90,000

Total Variable Costs 780,000

Contribution Margin 240,000

Fixed Expenses 140,000

Total fixed manufacturing overhead $120,000

Fixed selling and administrative 20,000

Net Income 100,000

In this case the net income under both variable and absorption costing does not change because the units produced are units sold. No cost is charged to ending inventory under absorption costing.

SMUCKERS

Absorption Costing Income Statement

For the Third Quarter of 2017

Sales (30,000*34) 1020,000

Direct materials (30,000*16) 480,000

Direct labor (30,000*7) 210,000

Variable manufacturing overhead (30,000*3) 90,000

Total fixed manufacturing overhead $120,000

Total Manufacturing Costs 900,000

Gross Profit 120,000

Fixed Expenses 20,000

Fixed selling and administrative 20,000

Net Income 100,000

3 0

3 years ago

Advantages of discounted payback period

zaharov [31]

Answer:

The main advantage of the discounted payback period method is that it can give some clue about liquidity and uncertainly risk. Other things being equal, the shorter the payback period, the greater the liquidity of the project. Also, the longer the project, the greater the uncertainty risk of future cash flows.

8 0

3 years ago

Suppose the price of apples doubles to $3.00 between year 1 and year 2 but that nothing else in the economy changes Instructions

Bond [772]

Answer:

1. Suppose Quantity of Apple sold in year one & two = 100Kg.

Price in year 1 = $1.50 per kg

Price in year 2 = $3.00 per kg

Nominal GDP 1 = Price * Quantity = 1.50*100 = $150

Nominal GDP year 2 = 3*100 = $300

Change in Nominal GDP = $150

Percentage change in Nominal GDP = 100%

b. Real GDP of year 1 = Nominal GDP of year 1 = $150

Real GDP of year 2 = 1.50*100 = $150

Change in Real GDP = 0%

2. Quantity of Bread = 100 units price = $ 1 per unit, year 2 price = $ 2 per units

a. Nominal GDP year 1 = 1*100+1.5*100 = $250

Nominal GDP year 2 = 2*100+3*100 = $500

Percentage change in Nominal GDP = 500-250/500 * 100 = 100%

b. Real GDP year 1 = $250

Real GDP year 2 = 1*100 + 1.5*100 = $250

Percentage change in Real GDP = 0%

6 0

3 years ago

Which statement about truffles is correct? A. They resemble pineapple in texture and color. B. They're prized for being both ple

s2008m [1.1K]

The correct answer is C.

8 0

3 years ago

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