Select the incorrect statement regarding the contribution margin income statement.
a. the contribution margin approach for the income statement is unacceptable for external reporting.
b. contribution margin represents the amount available to cover product costs and thereafter to provide profit.
c. the contribution margin approach requires that all costs be classified as fixed or variable.
d. assuming no change in fixed costs, a $1 increase in contribution margin will result in a $1 increase in profit.
Answers: 1
Business, 21.06.2019 22:40, gobertbrianna40
Job a3b was ordered by a customer on september 25. during the month of september, jaycee corporation requisitioned $2,400 of direct materials and used $3,900 of direct labor. the job was not finished by the end of the month, but needed an additional $2,900 of direct materials in october and additional direct labor of $6,400 to finish the job. the company applies overhead at the end of each month at a rate of 100% of the direct labor cost. what is the amount of job costs added to work in process inventory during october?
Answers: 3
Business, 22.06.2019 10:30, salvadorjr1226p4zkp3
On july 1, oura corp. made a sale of $ 450,000 to stratus, inc. on account. terms of the sale were 2/10, n/30. stratus makes payment on july 9. oura uses the net method when accounting for sales discounts. ignore cost of goods sold and the reduction of inventory. a. prepare all oura's journal entries. b. what net sales does oura report?
Answers: 2
Business, 22.06.2019 22:30, jyworthy
Ski powder resort ends its fiscal year on april 30. the business adjusts its accounts monthly, but closes them only at year-end (april 30). the resort's busy season is from december 1 through march 31. adrian pride, the resort's chief financial officer, the museums a close watch on lift ticket revenue and cash. the balances of these accounts at the end of each of the last five months are as follows:
Answers: 3
Select the incorrect statement regarding the contribution margin income statement.
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