Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. falmouth kettle company, a u.s. corporation, sells

Falmouth Kettle Company, a U.S. corporation, sells its products in the United States and Europe....

90.2K

Verified Solution

Question

Accounting

imageimage

Falmouth Kettle Company, a U.S. corporation, sells its products in the United States and Europe. During the current year, selling, general, and administrative (SG&A) expenses included: $ 780 Personnel department Training department President's salary 420 470 Sales manager's salary 256 Other general and administrative 634 Total SG&A expenses $ 2,560 Falmouth had $15,360 of gross sales to U.S. customers and $3,840 of gross sales to European customers. Gross income (sales minus cost of goods sold) from domestic sales was $3,840 and gross profit from foreign sales was $1,280. Apportion Falmouth's SG&A expenses to foreign source income using the following methods: Problem 24-48 Part a (Algo) a. Gross sales. (Do not round intermediate calculations.) Foreign source income U.S. source income b. Gross income. (Do not round intermediate calculations.) Foreign source income U.S. source income

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students