Answer:
Cost of goods sold is $7,700
Gross Profit is $2,300
Explanation:
Cost of goods sold is Cost of goods available for sale less ending merchandise inventory. Ending merchandise understated by $300 means ending merchandise was accounted $300 less. So, $300 need to be added to ending merchandise. No ending merchandise is $2,300 (2,000 + 300)
Cost of goods sold will be 10,000 - 2,300 = $7,700
Gross profit is sales revenue less cost of goods sold which is computed as shown below:
Gross profit = 10,000 - 7,700
= $2,300
<u>Solution and Explanation:</u>
The implicit cost of capital
Implicit cost of capital is the opportunity cost of capital which is already incurred but not reported as a separate cost/expense, Implicit cost is the cost which results from using an existing asset instead of selling or renting it.
For example when a businessman uses his/her existing land which has implicit cost of say $1000 per month but bought it for say $100 many years ago, so $1000 is its implicit cost/current market rent per month which is equal to its oppo
Answer:
Dr. Trading securities $4,800
Cr. Unrealized gain on trading securities $4,800
Explanation:
Trading securities are recorded reported on the fair market value. The gain or loss arise from the increase or decrease in the value of trading securities. There is a gain if the price of trading security increases and loss when the price of the trading security decreases. Unrealized gains are reported in the separate section of stockholders equity.
Gain on Trading securities = Fair value of security portfolio - Cost of security portfolio = $46,300 - $41,500 = $4,800
Answer:
The correct answer here would be Cohesiveness.
Explanation:
Path goal theory is a type of motivational theory, which tells about how leaders can motivate their subordinates in accomplishing the designated goals. Here directive leadership will help in increasing employees satisfaction when there is cohesiveness with in a work group. Cohesion in the group means that people in the group are working in unity and works towards achieving the goals and also satisfying emotional needs of group members.
Answer: -$2,350
Explanation:
First we will calculate the labour costs of the product as,
Standard labour overheads required,
= 2,500*6
= $15,000
Using the above figure we will then calculate the Standard Overhead Cost as,
Standard overhead cost
= 4.9* 15,000 hours
= $73,500
But the Actual overhead cost = $71,150
The Variance is calculated as,
= standard overhead cost - actual overhead cost
= 73,500 - 71,150
= $2,350 Favorable.
= -$2,350
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