Answer:
Medium of exchange
Explanation:
Fresh fish is not an effective form of money. Fresh fish lacks medium of exchange, which makes it ineffective.
Answer: Shift to the right
Explanation:
Fertilizers are an important input in wheat production. When the price of fertilizers fall, it leads to a decrease in cost of producing wheat. Thus, producers will supply more wheat in the market. As a result the supply curve for wheat will shift to the right leading to a fall in the price of wheat and an increase in the quantity of wheat sold in the market.
Answer:
No Account Titles and Explanation Debit Credit
A. Raw material inventory $13,800
Direct material price variance $740
($13,800 - $13,060)
Account payable $13,060
(To record purchase of materials)
B. Work in process inventory $13,780
6,890 * ($13,800/6,900)
Direct material quantity variance $220
($13,780 - $13,560)
Raw materials inventory $13,560
6,780 * ($13,800/6900)
(To record materials issued to production)
Answer:
Amount of underapplied or overapplied overhead cost for the year
$97000 - Underapplied
Schedule of cost of goods manufactured for the year
Direct Material 3885000
Direct Labor 60000
Overheads 376000
Total Manufacturing Costs 4321000
Add Opening Inventory WIP 400000
Less Closing Inventory WIP (700000)
Cost of Goods Manufactured 4021000
Explanation:
Amount of underapplied or overapplied overhead cost for the year
Underapplied or Overapplied overhead cost =Actual Overhead - Applied Overhead
$473000-$376000= $ 97000
Schedule of cost of goods manufactured for the year
<em>Direct Materials Calculation </em>
Opening 200000
Add Purchases 4000000
Available 4200000
Less Closing Material 300000
Materials Consumed 3900000
Less Indirect Materials 15000
Direct Materials Consumed 3885000
Answer:
do you need help with that or are you saying that
Explanation: