Answer:
$47
Explanation:
The calculation of charge per hour is shown below:-
Variable cost per hour = $ 20
Unassigned cost per hour = $400,000
Total cost = 20 × $20,000 + $400,000
= $800,000
Profit = $140,000
Total revenue to be collected = $800,000 + $140,000
= $940,000
Per hour charge = Total revenue to be collected ÷ Consulting hours available for the year
= $940,000 ÷ $20,000
= $47
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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Bartering is done without C) money!
Recall how pioneers traded with each other goods.
<h2>Estimated losses on the overall contract are recognized before the contract is completed. </h2>
Explanation:
Revenue recognition cannot be done prior to the completion of contract.
But the asset can be created. Only after the contract gets completed the revenue recognition can be realized.
For a long-term project, the revenue can be recognized based on the percentage of completion.
Revenue recognition keeps financial transactions aligned.
Option A: valid
Option B Invalid, because expenses are also recognized
Option C: This process is acceptable.
Option D: Gains and profits are calculated in this type of method
