INCOME STATEMENT Little Books Inc. recently reported $3 million of net income. Its EBIT was $6 million, and its tax rate was 40%

Answer:

A total of 24 students is required to reach breakeven.

Explanation:

Breakeven occurs when total sales equal total expenses.

Thus,

Sales = Px * Q

Where Px represents the cost of the training session

Q denotes the number of students attending

Sales = 150Q

Cost = fixed cost + variable cost

Cost = 3000 + 25Q

Breakeven calculation

150Q = 3000 + 25Q

150Q - 25Q = 3000

125Q = 3000

Q = 3000 / 125

Q = 24

Thus, breakeven is achieved with 24 students.

Answer:

a. HORIZONTAL METHOD

INCOME STATEMENT

Date    Income           $          -        Expenses         $       =    Net Income

1 Nov    -                   -                          -                    -                   -

b. adjustment

31 for each  rent           5,300                 -                      -                  5,300

Month

c. BALANCE SHEET AS OF 31 DEC

                Assets        =      Equity     +     Liabilities

+ bank $84,800                    -                   prepaid expenses +$84,800

Explanation:

At the point of 1 Nov, there were no transactions recorded in the income statement since the revenue has yet to be realized; only the balance sheet shows + bank $31800 and + income received in advance (a liability) $31800

Each month's rent amounts to $31800/ 6 months =$5300

18 months rent totals to 95400

The unearned amount by December would then equal: 18 months - 2 months earned

                                       = 95400- 10600

                                       =$84,800

Response:

The difference in the cost of direct materials per equivalent unit between the two months is $0.70.

Clarification:

First, determine the direct cost per equivalent unit for September

Direct cost per equivalent unit = Total Cost / Total Equivalent units

      = $12,000 / 7,500

      = $1.60

The difference between the two months.

September   =  $1.60

Less August = ($0.90)

Difference      = $0.70

La empresa de contratación de defensa utiliza sus recursos financieros para adquirir instancias de EC2. Estas instancias reservadas tienen un periodo de uso de entre uno y tres años.

Si el programa es cancelado por alguna razón, la compañía tiene la opción de arrendar la instancia adquirida a otra empresa, generando ingresos anuales mediante este alquiler.

Esto permitirá recuperar el costo no recuperable y generar ingresos con la instancia reservada de EC2.

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Response:

Allocated MOH= $274,320

Clarification:

Providing the following details:

The budgeted factory overhead was $266,400, while the expected machine-hours amounted to 18,500. The actual machine-hours totaled 19,050.

Initially, we must determine the estimated rate for manufacturing overhead. We can then allocate the overhead accordingly.

To find the estimated overhead rate for manufacturing, we should employ the following equation:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 266,400/18,500= $14.4 per machine-hour.

Now we can proceed to allocate the overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 14.4*19,050= $274,320