Pelicans Ice is a snow cone stand near the local park. To plan for the future, it wants to determine its cost behavior patterns. It has the following information available about its operating costs and the number of snow cones served.

Month Number of snow cones Total operating costs
January 6,400 $5,980
February 7,000 $6,400
March 4000 $5000
April 6,900 $6,330
May 8000 $9000
June 7,250 $6,575

Using the high-low method, the monthly operating costs if Pelicans sells 12,000 snow cones in a month are:

A) $9,800. B) $7,200. C) $21,000. D) $2,600.

Which of the following statements is true? a. financial investment refers to the creation and expansion of business enterprisesb. economic investment refers to the creation and expansion of business enterprisesc. economic investment refers to the purchase of assets such as stocks, bonds, and real estated. both economic and financial investment refer to the purchase of assets such as stocks, bonds, and real estate

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

Selected information about income statement accounts for the reed company is presented below (the company's fiscal year ends on december 31): 2018 2017sales $ 4,400,000 $ 3,500,000cost of goods sold 2,860,000 2,000,000administrative expenses 800,000 675,000selling expenses 360,000 312,000interest revenue 150,000 140,000interest expense 200,000 200,000loss on sale of assets of discontinued component 50,000 —on july 1, 2018, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by gaap. the assets of the component were sold on september 30, 2018, for $50,000 less than their book value. results of operations for the component (included in the above account balances) were as follows: 1/1/18-9/30/18 2017 sales $ 400,000 $ 500,000 cost of goods sold (290,000 ) (320,000 )administrative expenses (50,000 ) (40,000 )selling expenses (20,000 ) (30,000 )operating income before taxes $ 40,000 $ 110,000 in addition to the account balances above, several events occurred during 2018 that have not yet been reflected in the above accounts: a fire caused $50,000 in uninsured damages to the main office building. the fire was considered to be an infrequent but not unusual event. inventory that had cost $40,000 had become obsolete because a competitor introduced a better product. the inventory was sold as scrap for $5,000.income taxes have not yet been recorded. required: prepare a multiple-step income statement for the reed company for 2018, showing 2017 information in comparative format, including income taxes computed at 40% and eps disclosures assuming 300,000 shares of common stock. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)