Huntington Corporation
Presented Below Are All of the Items from Huntington

question 85

Essay

Huntington Corporation
Presented below are all of the items from Huntington Corporation's income statement for the years ending December 31, 2018 and 2017.

$\begin{array}{lrr}&\text { December 31, } 2018 & \text { December 31, } 2017\\\text { Service fees } & \$ 2,300,000 & \$ 2,100,000 \\\text { General and administrative expenses } & 1,900,000 & 1,500,000 \\\text { Other income, net } & 40,000 & 20,000 \\\text { Income taxes } & 150,000 & 180,000\end{array}$
-Read the information about Huntington Corporation.
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Required
Compare the profit margins for 2018 and 2017.Is the company becoming more or less profitable or staying the same? What could be contributing to this?

Identify the impact on Cost of Goods Sold when standard cost variances are closed.

Assess the impact of recording direct labor costs on the Cash account.

Comprehend the accounting for raw materials purchases on the Raw Materials inventory and Cash accounts.

Calculate the net operating income for the year.

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Definitions:

Significant Correlations

Statistical relationships between two or more variables where changes in one variable are associated with changes in another, indicating a non-random association.

Attachment Style

A pattern of emotional bonding with others, developed in early childhood, that affects relationships in adulthood.

Mental Health

A state of well-being in which an individual realizes their own abilities, can cope with the normal stresses of life, can work productively, and is able to make contributions to their community.

Intimacy and Passion

Components of love that encompass feelings of closeness and connection (intimacy) and physical attraction and excitement (passion).