Answer:
The budgeted cost of merchandise purchases is $527,000
Explanation:
The cost of merchandise purchases for May can be computed by first of all calculating the costs of goods sold,then by deducting closing inventory from costs of good sold and adding opening inventory,just like working backwards.
Sales $870,000
less margin($870,000*40%) ($348,000)
Cost of goods sold $522,000
Cost of goods sold =opening stock+purchases-closing stock
purchases=costs of goods sold+closing stock-opening stock
closing stock is $52000
opening stock is $47000
purchases =$522000+$52000-$47000
purchases= $527,000
If a consumer doesn't pay off their entire credit card balance it becomes a debt that will continue to accrue interest and eventually will end up in collections
Answer:
Unitary cost= $176.7
Explanation:
<u>First, we need to calculate the predetermined overhead rate:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (488,400/74,000) + 2.7
Predetermined manufacturing overhead rate= $9.3
<u>Now, we can determine the total cost for Job A496:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Total cost= 930 + 1,860 + (9.3*80)
Total cost= $3,534
<u>Finally, the unitary cost:</u>
Unitary cost= 3,534/20
Unitary cost= $176.7
Answer:
Currency in circulation and in bank vaults , checkable deposits and travelers' check
Explanation:
Money is defined as a generally accepted medium of exchange and a measure of the value of good and services.
One key property of money is liquidity. That to qualify for money , an asset must be in a state that it can easily be converted to cash in a short space of time.
Money must also be durable , divisible ,portable and valuable.
.The only qualified option is Currency in circulation and in bank vaults , checkable deposits and travelers' check
A federal budget deficit occurs when federal government purchases exceed net taxes. Option C is correct.
<h3>What is federal budget?</h3>
The federal budget is the budget of the United States. It comprises the federal government's spending and revenues.
The budget is the monetary or medium of exchange expression of the priorities of the government and showing the past conflicts and conflicting economic views.
A federal budget deficit occurs when government spending exceeds revenue, which is the money collected from, fees, taxes and investments. Deficits add to the national debt, or debt owed by the federal government.
Therefore, option C is correct.
Learn more about the federal budget, refer to:
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