Answer:
B) 14,200 units
Explanation:
Equivalent unit of conversion = (8000*25% + 8000*100% + 7000*60%)
= 14200 units
Therefore, The equivalent units of production for conversion cost would be 14200 units.
Answer:
$9,098
Explanation:
Trial Balance at December 31, 2022
Account Name Debit
Cash $320
Accounts receivable $700
Prepaid insurance $88
Supplies $270
Equipment $4,800
Salaries and wages expense $2,300
Rent expense <u>$620</u>
Total Debits <u>$9,098</u>
Note: All expense and assets have debit balances while all liabilities, revenue and owners equity have credit balance.
Answer: $430,000
Explanation: The amount of wages and salaries paid to employees involved in the process of production is called direct labor cost. It can be computed as follows :-
Actual total direct labor cost = Standard direct labor cost + unfavorable direct labor rate variance + unfavorable direct labor efficiency variance
= $ 400,000 + $ 20,000 + $ 10,000
= $430,000
Answer:
Example of such product : <em>Ferrari sports car.</em> due to various alternatives of sports cars available in the market, when the price level of a Ferrari car increases the demand of the product might become more elastic
Explanation:
When more money is spent on advertising by any firm the demand for the firm's product will most likely increase and this is simply because more potential clients will be reached through advertising.
But when the demand of the goods become more elastic with increase in price level, it is simply because the product has suitable alternatives/competitions in the open market.
Example of such product : Ferrari sports car. due to various alternatives of sports cars available in the market, when the price level of a Ferrari car increases the demand of the product might become more elastic