Answer:
debit to Bad Debts Expense for $2,800
Explanation:
The adjustment to record bad debts for the period will require a debit to Bad Debts Expense for $2800.
i.e. $(4000 - 1200) = $2800
Supply price elasticity measures sellers' sensitivity to changes in price. When price changes have a large impact on supply, we say that supply is price elastic, with small price increases supply will increase considerably. We say that an offer is perfectly elastic when from a certain price level, suppliers have bid as much as possible. In the short term, however, firms bump into structural factors to deliberately increase their supply. For example, a factory has a short-run maximum production limitation. In the short term, the factory may grow its plant and buy more machines, but in the short term from one point the supply is more rigid.
There are, however, some exceptions. In the case of natural monopolies, such as water supply, the increase in price may increase supply indefinitely. This is a case where, in the short run, price elastic supply can be infinitely elastic. Thus, rising prices can increase the amount of water supplied as much as demanded by consumers. This is because the marginal cost of supplying more water is low for the firm.
Note: marginal cost is the cost of manufacturing one more unit of the product supplied. In the case of water, the marginal cost of providing 1 unit of water measurement is very low.
Answer:
Materials cost per unit: $3.80
Conversion cost per unit: $4.54
Compute total manufacturing costs: $92,480
Explanation:
Unit Costs = Total Cost ÷ Total Equivalent Units
<u>1. Materials </u>
Unit Cost = $38,000 ÷ 10,000
= $3.80
<u>2. Conversion Costs</u>
Unit Cost = $54,480 ÷ 12,000
= $4.54
<u>Total Manufacturing Costs :</u>
Materials $38,000
Conversion Costs $54,480
Total $92,480
Answer:
A. recognition of a loss and creation of a liability for the value of the land.
Explanation:
This is because, in the financial statement of the Railroad company, it goes to show the financial dealings which the company had within the fiscal year under review. <em>Since, the Northern Railroad Company and Mark Ward has reached an agreement, the best would be the recognition of the loss and create a liability for the value of the land in their financial statement. It will afford the investors to be aware of the assets and liability of the company at the present time.</em>
Answer: Jake's job relates to management
Explanation:
Management encompasses many things, which includes over seeing of the day to day activities of the business as it concerns the relevant objectives of the business as a whole
