For every choice you make, you are sacrificing something else. For example, when you choose to buy a new phone, you are sacrificing buying a new laptop. The opportunity cost of buying the phone, is the cost of the laptop. Therefore, evey choice has a cost, because in every choice, there is a sacrifice
Revenue = $752,800
Cost of goods sold = $301,800
To solve for the gross profit:
Gross profit = revenue - cost of goods sold
Gross profit = $752,800 - $301,800
Gross profit = $451,000
The gross profit shows the profits a company has after taking their costs to make the product and subtract them from the sales they had.
if a business invites guests or customers onto its premises, then that business has the duty to c. warn invitees of and reasonably protect them from a foreseeable risk of harm or danger from something on the premises.
<h3>What is the duty of a business to its guests?</h3><h3 />
When a business gets guests on its premises , it has two duties as regards their safety. The first is to warn them about potential harm or danger that they might face.
The second duty is to offer some reasonable protection to the guests in case of any foreseeable risk of harm.
Options for this question include:
- a. warn invitees and trespassers of, and reasonably protect them from, a foreseeable risk of harm or danger from something on the premises.
- b. reasonably protect invitees from every possible risk of harm or danger that could exist on the premises.
- c. warn invitees of and reasonably protect them from a foreseeable risk of harm or danger from something on the premises.
- d. warn invitees of all risks, even of an obvious risk.
Find out more on the duties of a business to customers at brainly.com/question/24553900
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Answer:
Explanation:
Manufacturing overhead records all the expenses like salaries payable which come under indirect labor. Manufacturing overhead includes all those indirect costs which are related to the factory-like - factory rent, factory repairs, depreciation on factory equipment, property taxes
For recognized expense, the journal entry would be
Factory overhead A.c Dr
To Expenses A/c
(Being expense recognized)
Since the cost is actually incurred so this above entry should be made
And, the journal entry for applied overhead is shown below
Work in progress inventory A/c Dr XXXXX
To Factory overhead A/c XXXXX
(Being overhead applied is recorded)
Since applied overhead is based on predetermined overhead rate so we credit the factory overhead and debit the work in progress inventory
