Answer:
Sunk cost
Explanation:
The sunken cost is the expense previously incurred that will not be compensated in future. Plus, it's also called past expense.
The cost at the time of decision-making is not significant and it should be ignored.
In the given question, the $3,500 spent which is not now recovered and hence represents the sunk cost
Answer:
The correct answer is d) Controls
The goal of Control in an organization is making sure that the company's procedures meet the required criteria of a particular standard. A company needs to have accounting standards, production standards, and management standards, and it is through control processes that those standards are met.
house remodeling- this job takes an artistic person to be able to envision how to make a home look better and what all it would take to insert their vision in the home they are remodeling
Answer: $22000
Explanation:
The amount of Superior's dividend declarations during its recent year of operation will be calculated thus:
Ending retained earnings ($91000) = Beginning retained earnings ($75000) + Net income ($38000) - Dividend declared
$91000 = $113000 - Dividend declared
Dividend declared = $113000 - $91000
Dividend declared = $22000
Therefore, Superior's dividend declarations during its recent year of operation is $22000
Answer:
$7.05
Explanation:
Given that
Direct labor = $3.50 per unit
Direct material = $1.25 per unit
Variable overhead = $41,400
Total fixed overhead = $150,000
Produced units = 18,000
The computation of total product cost per unit under variable costing is shown below:-
Total Variable overhead = Variable overhead ÷ Produced units
= $41,400 ÷ $18,000
= $2.3
Total product cost per unit = Direct labor + Direct material + Total variable overhead
= $3.50 + $1.25 + $2.3
= $7.05
