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2 years ago

Variable costing prepares the income statement using the traditional format. Question content area bottom Part 1 True False

1 answer:

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It is a false statement that variable costing prepares the income statement using the traditional format because it is for allocation of production costs.

<h3>What is variable costing?</h3>

Variable costing refers to an accounting method that is used to allocate production costs to product being produced.

This method of costing allocates all variable-manufacturing costs to the product during the period.

Furthermore, a variable costing assigns only variable costs to the products.

In conclusion, it is a false statement that variable costing prepares the income statement using the traditional format because it is for allocation of production costs.

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Financial institutions such as commercial banks, bond mutual funds, insurance companies, and pension funds maintain large portfo

inessss [21]

Answer:

The correct answer is letter "B": unfavorably; increases.

Explanation:

As a measure to control inflation in the economy, the Federal Reserve (Fed) tends to <em>increase </em>the interest rate. This to have banks request fewer loans from the central bank which will result in offering fewer credits to individuals. If people have fewer sources of debt, the possibilities that an economic bubble -<em>continuous increase in price due to continuous increase in demand</em>- appear decreases.

However, if people have fewer sources of debt, private investment decreases, causing an <em>unfavorable </em>panorama for financial institutions offering large portfolios of assets.

8 0

2 years ago

Describes how a monopoly controls an industry

stira [4]

Answer:

Key ideas:

A single entity controls the flow of the product.
Possesses the power to limit prices.
Will have some influence in politics.
Difficult for new companies to enter the market.

Explanation:

Monopoly refers to the state when there is only one company controlling the flow of products, therefore controlling the prices of it. There are a lot of examples of monopoly in the contemporary era such as AB Inbev, but it doesn't mean that it is totally a modern concept. Monopoly existed even in history take for example the case of Carnegie steel mills or the issue of railroads.

When one company possess such power that it can control the price, it can badly damages the interest of other investors and consumers. But the reason they create a monopoly is that they have heavy influence in politics. That is how they turn up the decisions to their own benefits. And monopolies always try to create hurdles for new investors to get in the market. Because they are charging whatever they want due to no competition, as soon as new competition arrive it will challenge the monopoly which it can't take.

3 0

2 years ago

The following information applies to the questions displayed below Over a four-year period, Jackie Corporation reported the foll

lawyer [7]

Answer:

1. Gross Profit ratio

2018 47%

2019 30%

2020 62%

2021 47%

2. Gross Profit ratio

2018 47%

2019 47%

2020 47%

2021 47%

Explanation:

1. Calculation for the gross profit ratio for each of the four years based on amounts originally reported.

2018 2019 2020 2021

Net sales $60,000 $66,000 $74,000 $90,000

Less Cost of goods sold $32,000 $46,000 $28,000 $48,000

=Gross profit$ 28,000 $20,000 $46,000 $42,000

Gross Profit ratio

2018 47% =$28,000/$60,000

2019 30% =$20,000/$66,000

2020 62% =$46,000/$74,000

2021 47% =$42,000/$90,000

2. Calculation for the gross profit ratio for each of the four years based on corrected amounts.

Cost of goods sold 2019=$46,000-$11,000

Cost of goods sold 2019=$35,000

Cost of goods sold 2020=$28,000+$11,000

Cost of goods sold 2020=$39,000

2018 2019 2020 2021

Net sales $60,000 $66,000 $74,000 $90,000

Less Cost of goods sold $32,000 $35,000 $39,000 $48,000

=Gross profit $28,000 $31,000 $35,000 $42,000

Gross Profit ratio

2018 47% =$28,000/$60,000

2019 47% =$31,000/$66,000

2020 47% =$35,000/$74,000

2021 47% =$42,000/$90,000

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3 years ago

Which of the following generalizations about services is INCORRECT? options: Service facilities must be designed for good custom

ipn [44]

Answer:

Service facilities must be located close to suppliers and laborers.

Explanation:

Services, unlike products, are intangible and are not produced or delivered the same way as products are.

<u>While production facilities for products, should be located close to suppliers and laborers, this is not the case with service facilities.</u>

8 0

2 years ago

Jack Wills owns a commercial nursery. Jack has more business than he wants, in fact, he is presently turning away exciting new b

Jobisdone [24]

Options to Answer

A) business aptitude

B) entrepreneurial aptitude

C) commercial opportunity

D) business capacity

E) managerial capacity

Answer:

E. Managerial capacity

Explanation:

Managerial capacity has to do with the ability or capacity for an individual to manage a business. Managerial capacity problem has to do with those problems that occurs when growth in an organization is limited by the manager's capacity. The managerial capacity is attributed to personnel, expertise, intellectual and so on. Insufficient managerial capacity leads to loss business opportunities like in this case we have here. Because of his inability to take in more worker, he's losing more businesses.

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3 years ago

Read 2 more answers