Answer:
no no entry will be made
Explanation:
Data provided in the question:
Date on which inventory sold, December 29
Amount of inventory sold = $5,500
Account terms = 2/10 n/30
Date on which amount is paid, January 3
Now,
Since the date on which the entry is being made (i.e December 29) is before the payment is actually made (i.e January 3). Therefore, no no entry will be made in its inventory account
Answer:
D. 26,000; 23,000
Explanation:
Equivalent Units (Weighted Average Method) = Beginning Goods In process + Units Completed + Ending Goods x % of completion
Direct Materials: 5,000 + 15,000 + 6,000 x 100% = 26,000
Direct Labor: 5,000 + 15,000 + 6,000 x 50% = 23,000
Remember: In the weighted average cost system the opening inventory units count as a full equivalent unit of production.
13, it says it in the question
Answer:
An elastic demand or elastic supply is one in which the elasticity is greater than one, indicating a high responsiveness to changes in price. An inelastic demand or inelastic supply is one in which elasticity is less than one, indicating low responsiveness to price changes
