Answer:
Explanation:
Computation A:
Product Cost Markup = Desire to Earn Profit + Total Selling
Desired to Earn profit = $960,000 × 12%
Desired to Earn profit = $115,200
Product Cost Markup = Desire to Earn Profit + Total Selling
Product Cost Markup = $115200 + $105000
Product Cost Markup = $220,200
Percentage Markup = Product Cost Markup / Incur Total Manufacturing Cost
Percentage Markup = $220200 / $2600000
Percentage Markup = 8.5%
Computation B:
Per Unit Cost = $2,600,000 / 80000
Per Unit Cost = $32.5
Price of Product = $32.5 + ($32.5 × 8.5%)
Price of Product = $35.26
Answer:
b. deposits in transit
Explanation:
Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smooth manner.
There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.
The adjusting entry of interest earned is
Cash A/c Dr
To Interest income A/c
(Being interest is earned)
Likewise, for The fee for collection
Bank charges A/c
To Cash A/c
(Being fees is charged)
And for NSF check of customer, it would be
Account receivable A/c Dr
To Cash A/c
(Being the adjusting entry is made)
So, for this the adjusting entry is made but for Deposit in transit , no adjusting entry would be made.
Answer:
In kind benefits are goods and services provided for free or at greatly reduced prices
Explanation:
The benefits in kind are the advantages given to an employee or a customer such as credit cards, company cars, concert tickets and so on. Usually these benefits are called "perks" and are part of the compensation plan offered at each enterprise.
The benefits are also offered to clients, which will be awarded with a gift from the company when reaching certain number of purchases.
Answer:
As an entrepreneur, you have a <u>competitive advantage</u> when buyers choose your products or services over your competitors.
Explanation:
Competitive advantage can be understood as an advantage that any organization or any firm might have over its competitors due to various possible reasons. When customers prefer the product of any particular company over other companies in the same genre, then the former company is an aid to possess a competitive advantage over its competitors. The reason for this preference could below the pricing of the product, greater quality or sometimes even greater brand value of the product.
Answer:
B) Ricardian equivalence does not hold-people choose to spend the majority of the extra income they now take home.
Explanation:
According to the Ricardian equivalence, in this the consumer wants to enjoy the similar wealth all over the life due to which the deduction of the tax would not likely to rise the consumption of the consumers. They spent the similar amount. Also the consumer try to expect the loss arise in the future because of the tax rise and at the same time the government can increased the tax so that the loss i.e. spent would be balanced.
Now in the given situation if Ricardian equivalence grasp the income deduction so the consumption would not rise due to which the company can be within the recession
hence, the correct option is B.
