Answer:
B. expense
Explanation:
This is an administrative expense which reports the fees incurred by a company for the expenses associated with its checking account transactions.
Answer:
$7,650
Explanation:
Ending work in progress = Beginning Work in progress + Units started - Units completed and transferred
= $22,000 + $90,000 - $97,000
= $15,000
Equivalent units = Units completed and transferred + Ending work in progress
= $97,000 + $15,000
= $112,000
Total cost = Material cost (Beginning) + Material cost during the month
= $11,000 + $46,100
= $57,100
Cost per equivalent unit = $57,100 ÷ $112,000
= $0.51
Materials cost of the work in process inventory at March 31 = Ending work in progress × Cost per equivalent unit
= $15,000 × $0.51
= $7,650
A free enterprise economy is the idea that a capitalist economy can maintain itself in a freely competitive market due to a the supply and demand relationship. Since this concept claims that the economy can regulate itself, the government has a minimalist role in it.
