Answer:
1. Journal Entry Debit Credit
Raw materials inventory $73,400
($72,000 + $1,400)
Accounts payable $73,400
(Being raw materials purchase on credit)
2. Journal Entry Debit Credit
Work in process $64,300
($64,000 + $300)
Raw materials inventory $64,300
<u>Raw Material Inventory Account</u>
Beginning balance $36,000 | Work in process $64,300
Purchase $73,400 | <u> </u>
| Ending balance <u>$45,100</u>
| ($36,000 + $73,400 - $64,300)
B.below the equilibrium price, causing a surplus
Answer:
lender.
Explanation:
A lender is an individual or company that makes funds available another com[any. Lenders receive fixed payments based on a predetermined rate at an agreed time.
A shareholder is the owner of a company. A shareholder is a person who buys the stock of a publicly traded company
Supplier provides raw materials needed for production to a company
An investor can either be a lender or shareholder
Answer: Family.
Explanation:
The family a consumer is born into, strongly influences the way that consumer would make purchase for the rest of their lives. This occurs because in the family, the consumer is groomed to love a certain type of food, fashion and develop a specific type of taste that remains with them as long as they live.
Answer:
The break even level of units per month fall by 16 units.
Explanation:
The current breakeven units per month are,
Break even in units = 5600 / (20 - 6)
Break even in units-March = 400 Units
The fixed costs remain constant in the short run to a certain activity level so assuming that the fixed costs will remain $5600.
The new variable costs will be 6 * 0.9 = $5.4
Assuming everything else remains constant,
The new break even in units per month = 5600 / (20 - 5.4)
New break even in units = 383.56 rounded off to 384 units
As a result of decrease in the variable cost per units, the new break even point becomes 16 units less than the previous one.
