Answer:
C) an independent contractor
Explanation:
An independent contractor is a person that is hired to perform a job and have the control on what he/she does and how it is done and the employer can only control the result. According to this, Napoleon is an independent contractor because he is hired to renovate a bathroom and he receives the plans for the result the employer expects but he can decide how to do it.
Answer and Explanation:
The journal entry to record the establishment as follows:
On Sep 1
Petty cash Dr $300
To Cash $300
(being the establishment of the fund is recorded)
Here the petty cash would be debited and cash would be credited so that the proper recording could be done
The difference in value between a country's imports and exports.
Answer:
<u>Job cost sheet</u>
Beginning /Materials / Labor / *overhead / Total
>J/58 0 9200 14400 3840 27440
>J/59 0 8900 10800 2880 22580
>J/60 0 6400 7200 1920 15520
24500 32400 8640 65540
<em><u>Journal entries:</u></em>
raw materials 29670
accounts payable 29670
WIP 24500
raw materials 24500
WIP 32400
wages payables 32400
factory overhead 17880
accounts payable 17880
WIP 8640
factory overhead 8640
Finished Goods 50,020**
WIP inventory 50,020
***COGS 53,040
Finished Goods 53,040
Accounts receivables 74256
*4 Sales revenue 74256
Explanation:
* the overhead is calcualte as the direct labor per job (800 ; 600; 400 respectively) times the overhead rate of 4.80
** the finished goods are Job 58 for a cost of 27,440 and 59 which cost is 22,580 we add the mand get 50,020 for the amount transferred int ofinished goods
***the cost of good sold will be J/57 of 25,600 plus J/58
*4 the sales revenue will be COGS times 1.4 as is the manufacturing cost plus a 405 markup.
Answer: consume both products at the same rate as before his inheritance.
Explanation: Seppo is a rational spender. This means that although Seppo has more money to spend on brandy and saunas, Seppo will only spend money on what Seppo needs. Seppo's inheritance will not change the amount of hours that are available in a day. Seppo will still only have 6 hours to spend, and will consume the products based on the amount of time Seppo has, instead of the extra cash Seppo can spend on these products. This means that although Seppo has more money, Seppo will still consume the same amount of products as before, as Seppo is a rational consumer who likes to weigh rational consumption choices.
