Answer:
<u>Physical flow schedule</u>
Inputs
Beginning Work in Process 86,300
Add Units Started 105,900
Total 192,200
Outputs
Units Completed and Transferred 172,900
Units in Ending Work in Process 19,300
Total 192,200
Explanation:
A physical flow schedule is simply a schedule of units introduced into the process and units outputs without expressing them to equivalent units.
Units Introduced must always be equal to units outputs in physicals terms.
<em>Units Completed and Transferred = Beginning Inventory + Units Started - Units in Ending Work in Process</em>
= 86,300 + 105,900 - 19,300
= 172,900
Answer:
Early settlement Discount: It is offered to customer to encourage them to pay earlier than the payment date.
Bulk Discount: If the customer buys over a certain quantity, he will get a discount.
Answer:
They will decrease as production decreases
Explanation:
Total Variable cost is sum of all the cost incurred in production of total units of goods produced. It is directly proportional to the number of units of goods produced. It helps to analyze cost structure of goods and then decide on pricing strategy of the goods. Some of the examples of variable cost can be packaging cost, raw material’s cost.
Mathematically it can be defined as
Total variable cost = Total units of goods produced * variable cost for one unit of good produced
Hence from the given option They will decrease as production decreases as the number of units of goods produced will decrease and hence lesser raw material and packaging will be required to produce the goods.
A. Vending Machine is a nonstore retailer
The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900
Explanation:
- Entertainment Tonight, Inc. manufactures and sells stereo systems that include an assurance-type warranty for the first 90 days. Entertainment Tonight also offers an optional extended coverage plan under which it will repair or replace any defective part for 2 years beyond the expiration of the assurance-type warranty. The total transaction price for the sale of the stereo system and the extended warranty is $3,000. The standalone price of each is $2,300 and $900, respectively. The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900.
- Unearned extended warranty revenue is given to be as an unearned revenues in accrued liabilities in the balance sheets.
- Revenue which comes from separately priced, self-insured service contracts is reffered at the point of sale.
- Unearned revenue is a money which is received from a customer for work that has not been performed still.
