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Is depreciation included in a contribution income statement?
Yes depreciation is included in contribution income statement as depreciation is part of fixed cost of company.
Is depreciation and amortization a fixed cost?
no
Why are inventories included in the computation of net income?
To determine cost of goods sold
Allocating the cost of an intangible asset is referred to as 1.amortization. 2.depletion. 3.accretion. 4.capitalization.?
Allocation of cost of intangible asset is called as amortization.
The periodic transfer of the cost of an intangible asset to expense?
amortization
Is the purchases returns included in the calculation of cost of sales?
Yes purchase returns are deducted from purchases to calculate the net amount of purchases and that's why included in cost of sales.
Is depreciation included in a contribution income statement?
Yes depreciation is included in contribution income statement as depreciation is part of fixed cost of company.
Is depreciation and amortization a fixed cost?
no
What are the Terms from a financial statement that will be used in calculation of a ratio?
1. Sales - This refers to the net sales done by the company during the reporting period (After deducting returns, allowances and discounts charged on the invoice) 2. Net Income - Amount earned by the company after taxes, depreciation, amortization and payment of interests 3. COGS - Cost of goods sold or cost of sales 4. EBIT - Earnings before Interest and Taxes 5. EBITDA - Earnings before Interest, Taxes, Depreciation and Amortization 6. EPS - Earnings Per Share
Why are inventories included in the computation of net income?
To determine cost of goods sold
Defines the term amortization?
the process of decreasing the amount of principal on a loan over a scheduled period of time
Allocating the cost of an intangible asset is referred to as 1.amortization. 2.depletion. 3.accretion. 4.capitalization.?
Allocation of cost of intangible asset is called as amortization.
Do amortization schedule calculator's cost?
There should be no cost for an amortization calculator. If you go to a bank the lender should provide you with one. If you do not want to go to a bank they can be found online.
What is the prime cost of an item which has material cost of 9 labor cost of 4 direct expenses of 3 and factory overhead of 2?
Prime cost is defined as the total of materials and labor that goes into making a finished/completed product. Material = 9 Labor = 4 9 + 4 = 13. Overhead is considered a conversion cost, so not included in the calculation. Direct expenses are not well explained, so not included in calculation.
The periodic transfer of the cost of an intangible asset to expense?
amortization
How did the cost of living in 1960's compare to the cost of living in 2008?
A middle class single earner family with an income of $150.00 a week lived in a fair sized home ( over 2,000 sq. feet ) That cost under $10,000 with a mortgage of $90.00 or less. That included interest, amortization, taxes and insurance. Percentage wise ( the proper way to evaluate then and today ) that consumed approximately 15% of income. Today the average couple is struggling with mortgages that are consuming 50% or more of their income. The above example can be extended to the cost of feeding a family, medical expenses, transportation, college costs, taxes and every other aspect of family life.
What is the term applied to the periodic expiration of a plant asset's cost?
Amortization
