Answer:
<u>Income statement according to the absorption costing</u>
Sales 2,600,000
Less Cost of Goods Sold
Opening Stock 0
Add Cost of Goods Manufactured
Direct materials 1,218,000
Direct labor 522,000
Variable factory overhead 87,000
Fixed factory overhead 130,500
Less Closing Stock (1,957,500/4,350)×350 (157,500) 1,800,000
Gross Profit 800,000
Less Period Costs :
Selling and administrative expenses:
Variable selling and administrative expenses (60,000)
Fixed selling and administrative expenses (25,000)
Net Income 715,000
Explanation:
<em>Product/Manufacturing Cost - Absorption Costing = Direct Materials + Direct Labor + Variable Overheads + Fixed Overheads</em>
<em>Period Cost - Absorption Costing = All Non - Manufacturing Costs</em>
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Answer:
See explanation
Explanation:
Some of the advantages and conveniences of buying internationally are as follows:
1. Revenues are expanding;
2. Competition among firms will be decreasing;
3. Diversifying the risk management;
4. Getting the chance to specialize (1);
The difference between buying a shirt made in Canada, but find the same one made in China is the availability of raw materials. The same raw materials can be found in various countries with the help of international trade. Transportation makes the difference either. The final difference is where you are staying. If you stay in Canada, you might get the Canadian shirt cheaper than the Chinese one. Again, if you stay in China, you might find the cheaper price in China. If you do not stay in both of the countries, it will be difficult to assume.
References:
1. Martinuzzi, B. (2018). What Are the Advantages of International Trade? Retrieved from https://www.americanexpress.com/en-us/business/trends-and-insights/articles/advantages-international-trade/
2. Herrera, S. (2018). International e-commerce: Advantages and disadvantages of marketplaces. Retrieved from https://www.handelskraft.com/2018/09/international-e-commerce-advantages-and-disadvantages-of-marketplaces-5-reading-tips/
Answer:
I believe following three jobs would be best for you
1: University Lecturer
2: Market Researcher
3: Marketing Consultant
Explanation:
1: University Lecturer
I am very good student and have strong grip over different academic concepts, I always have stood first in my class. I always got Distinction in my college. Moreover, I am very good at giving presentation, theretofore, I definitely believe that I can perform very well in teaching at the university level.
2: Market Researcher
I am very good at conducting research. I have conducted couple of market researches like measuring brand loyalty of Pepsi, Coke and Aquafina etc. Therefore, this job would be right and good for me.
3: Marketing Consultant
I can work as an independent Marketing Consultant and provide different Marketing expertise to clients, including SEO (search engine optimization - related to google), content Marketing and mobile marketing. I am very much proficient in this field as well, so this also can be right and good job for me.
Answer:
a) Cash received = $183,350
b) Interest expense = $12,730
c) Carrying value = $186,010
Explanation:
As per the data given in the question,
a) Face value of bond = $190,000
Issued at =0.965
Cash received = $190,000 × 0.965
= $183,350
b) Discount on bonds payable = $190,000 - $183,350
=$6,650
Annual amortization of discount on bonds payable =$6,650÷5
= $1,330
Cash interest = $190,000×0.60
= $11,400
Interest expenses = $11,400+$1,330
= $12,730
c)
carrying value = $183,350 + ($1,330 × 2)
= $186,010
