Answer:
The correct answer is option B.
Explanation:
The total revenue and profits of the industry as the price level increases with increase in the demand.
When there is an increase in the demand for the output of an industry, that industry will increase the production to match the increase in the demand. The increase in production will cause output level to increase.
In order to produce more output the industry will require more inputs, so the demand for inputs will increase.
An increase in the demand for inputs will be accompanied by increase in their prices.
There will not be any decline in the price of inputs.
The answers are state, and international system
I hope that helped
Answer:
General Journal Debit Credit
1 Cash 2600
Unearned revenue 2600
(To record gift cards sold)
2 Unearned revenue 832
Sales tax payable 32
Sales revenue 800
(To record gift cards redeemed)
Answer:
units completed and ending work in process.
Explanation:
Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.
Basically, when manufacturing overhead costs of a business firm or company are applied to the cost of production in a process costing system, they are debited to the Work-in-Process inventory account.
In the manufacturing process, partially or partly completed goods that are still in the process of being converted into a finish product are defined as work-in-process inventories.
Generally, the work-in-process inventories include the following raw materials cost, direct labor cost and factory overhead cost.
The equivalent-unit calculations is done by multiplying the number of partially completed physical goods by the percentage of completion.
Hence, equivalent-unit calculations are necessary to allocate manufacturing costs between units completed and ending work in process.
Answer:
overhead rate: $3 per labor hours
Appled overhead for January 25,050 dollars
Applied overhead: 268,800 dollar underapplied by 7,200 dollars
Explanation:
expected overhead: 270,000
cost driver: labor hours.
expected labor hours: 90,000
overhead rate: 270,000 / 90,000 = 3
<u>Applied overhead for January</u>
8,350 labor hours x $3 overhead rate = 25,050
for the year:
89,600 x $ 3 = 268,800
actual overhead 276,000
Difference: 7,200
As the actual cost were higher; the overhead was underapplicated.
we need to capitalize more cost.
