Answer:
Fixed and Variable cost:
Fixed cost are the costs which cannot be changed with change in the level of goods and services sold or produced.
Variable cost are the costs which changes with change in the level of output produced and sold.
Product and Period cost:
Product costs are the costs which are incurred for making the product such as direct material, factory overhead and direct labor, etc.
Period costs refers to the cost which are incurred for a certain period of time. It is normally associated with the time period than with any type of transactional event.
Therefore, the classification of items is as follows:
(a) Variable cost - Product cost
(b) Variable cost - Product cost
(c) Fixed cost - Period cost
(d) Fixed cost - Period cost
(e) Fixed cost - Period cost
(f) Fixed cost - Period cost
(g) Variable cost - Product cost
(h) Fixed cost - Period cost
(i) Fixed cost - Period cost
Answer:
The Cash paid to suppliers was $85,000
Explanation:
Data provided in the question:
Cost of goods sold = $100,000
Decrease in inventory = $5,000
Increase in accounts payable = $10,000
Now,
Cash paid to suppliers will be
= Cost of goods sold - Decrease in inventory - Increase in accounts payable
= $100,000 - $5,000 - $10,000
= $85,000
Hence,
The Cash paid to suppliers was $85,000
Answer:
matrix organizational structure
Explanation:
When a company works under a matrix organizational structure, specialists from different parts of the organization are brought together on a temporary basis to work on specific projects. It is common for employees to report to both a functional manager (traditional manager) and a product manager (project manager).
Answer:
$20,000 income
Explanation:
<em>Computation</em>
Particulars Amount
Sale Value of corrected product= $42,000.00
(2,000 * 21)
Less : Costs of Correction = ($12,000.00)
(2000 * 6)
Less : Opportunity costs - Salvage Value Lost = <u>($10,000.00)</u>
(2,000 * 5)
Incremental Revenue= <u>$20,000.00</u>
Answer:
Dr cash $310,831
Dr discount on bonds payable $29,169
Cr bonds payable $340,000
On 30th June 2021
Dr interest expense $ 15,542
Cr cash $15,300
Cr discount on bonds payable $242
On 31st December 2021
Dr interest expense $ 15,554
Cr cash $15,300
Cr discount on bonds payable $254
Explanation:
The bond issued at a discount is the first bond whose cash proceeds of $310,831 were less than face value of $340,000.
Discount=face value -cash proceeds=$340,000-$310,831=$29,169.00
Find attached bond amortization schedule.
