Comparative Income Statements Consider the following income statement data from the Mono Company: 2019 2018 Sales revenue $600,000 $450,000 Cost of goods sold 336,000 279,000 Selling expenses 105,000 99,000 Administrative expenses 60,000 50,000 Income tax expense 4,000 3,000 Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). MONO COMPANY Comparative Income Statements 2019 2018 Increase (Decrease) Percent Change Sales Revenue Answer 0 Answer 0 Answer 0 Answer 0 Cost of Goods Sold Answer 0 Answer 0 Answer 0 Answer 0 Answer Answer 0 Answer 0 Answer 0 Answer 0 Answer Selling Expenses Answer 0 Answer 0 Answer 0 Answer 0 Administrative Expenses Answer 0 Answer 0 Answer 0 Answer 0 Total Answer 0 Answer 0 Answer 0 Answer 0 Income before Income Taxes Answer 0 Answer 0 Answer 0 Answer 0 Answer Answer 0 Answer 0 Answer 0 Answer 0 Answer Answer 0 Answer 0 Answer 0 Answer 0

How will firms solve the problem of an economic surplus a. decrease prices to the market equilibrium price b. decrease prices so they are below the market equilibrium price c. increase prices

Hours to produce one unit worker hours to produce yarn country a 8 hours country b 4 hours worker hours to produce fabric counrty a 12 hours country b 13 hours additional worker hours to produce fabric instead of yarn country a ? country b? which of the follow is true of the trade relationship between country a and country b? country a has an absolute advantage in producing yarn and fabric country b has an absolute advantage in producing yarn and fabric country b has a comparative advantage to country a in producing fabric country a has a comparative advantage to country b in producing fabric

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows. direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow. fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.