Ansara company had the following abbreviated income statement for the year ended december 31, 20y2: (in millions) sales $18,769 cost of goods sold $15,471 selling, administrative, and other expenses 2,049 total expenses $17,520 income from operations $1,249 assume that there were $3,860 million fixed manufacturing costs and $1,170 million fixed selling, administrative, and other costs for the year. the finished goods inventories at the beginning and end of the year from the balance sheet were as follows: january 1 $2,354 million december 31 $2,408 million assume that 30% of the beginning and ending inventory consists of fixed costs. assume work in process and materials inventory were unchanged during the period. a. prepare an income statement according to the variable costing concept for ansara company for 20y2. round to nearest million.
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Business, 22.06.2019 10:20
Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.
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Adrawback of short-term contracting as an alternative to making a component in-house is thata. it is the most-integrated alternative to performing an activity so the principal company has no control over the agent. b. the supplying firm has no incentive to make any transaction-specific investments to increase performance or quality. c. it fails to allow a long planning period that individual market transactions provide. d. the buying firm cannot demand lower prices due to the lack of a competitive bidding process.
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Ansara company had the following abbreviated income statement for the year ended december 31, 20y2:...
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