Chapter 9, Problem 13Q

what amount and direction during that same period?

Its equivalent units for conversion costs are

accounting question solution

GoldenTech Corporation had a net income of $625,000 in 2021. If the company's net income increased by 15.6% in 2022, what was its net income for 2022? a. $710,000 b. $723,500 c. $722,500 d. $705,500

Kate Corporation owns a patent on an automated system. The company has been amortizing the patent on a straight-line basis since 2013, when it was acquired at a cost of $60 million at the beginning of that year. Due to technological advancements, management has now decided that the patent will benefit the company for a total of five years instead of the original ten-year amortization period. This decision was made at the end of 2016 (before adjusting and closing entries). What is the appropriate 2016 amortization expense for the patent?

Monica company sells goods on credit. On one sale, they sold it for $20,000 and offered a 2/10, net 30 payment option. Two days after sale, the customer complained and they allowed them a $1,000 sales allowance. The customer paid the net amount within 8 days after the sale. The cash proceeds received by the seller are_. a. $20,000 b. $19,000 c. $18,620 d. $18,600

Fixed factory overhead:125000, variable factory overhead:175000

How much is the total overhead cost at this level of activity ? General accounting question

Sunline Corporation's revenue increased by $40,000, and its expenses decreased by $12,500. What would be the effect on net income? a. $30,000 b. $52,500 c. $40,000 d. $65,000