Whiff Candles estimated overhead costs at the start of 2020 to be $3,600,000 for the year. In 2020, Whiff planned for and produced 1,800,000 candles with variable manufacturing costs of $0.25 per candle and total actual fixed overhead costs of $3,200,000. They sold 1,550,000 candles for $5 each during the year. Fixed selling and admin costs for 2020 totaled $456,000 Instructions Prepare absorption-costing income statement and Variable Costing Income Statement

Saeed needs money to purchase tools, basic office supplies, parts to refurbish equipment, accounting software, and legal fees. believing saeed's business will be a success, an investor invests $5,000 to saeed open his business. in return, saeed agrees to repay the investor the $5,000 plus 17 percent of the profits of the business. calculate the return on investment for the investor if saeed's business makes $7,000 in profit as a total return of the business in its first year.

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?