Answer:
$7,300 loss
Explanation:
The computation of the net foreign exchange gain or loss included in the income statement is shown below:
Since the merchandise purchased value is $62,900
And, the paid amount is $53,200
So, the gain on transaction is
= $62,900 - $53,200
= $9,700
The borrowed amount is $305,000
And, the principal amount is $322,000
So, the loss is
= $305,000 - $322,000
= $17,000 loss
So in this case $7,300 loss is included which is a difference of $9,700 and $17,000
Answer:
standing
Explanation:
As the strategy is considered after the event, the new procedure and policies of action will take place in future scenarios. They will applied to make a better outcome than without it. This may or not repeat, it is not a "single-use" event. Employees must be prepared when the circumstance arrive to behave propertly in the future
Answer:
The product cost for 24,500 units is $497,350.
Explanation:
The reason is that the the product cost always includes all the variable production cost and specific fixed production cost. In this scenario, direct material cost, direct labor cost, variable manufacturing overhead cost are variable production cost whereas the fixed manufacturing cost is specific fixed production cost which will form part of product cost. The remainder of the cost left is period cost.
Direct materials (24,500 * $7.7 per unit) $188,650
Direct labor (24,500 * $4.7 per unit) $115,150
Variable manufacturing overhead (24,500 * $2.2 per unit) $53,900
Fixed manufacturing overhead (24,500 * $5.7 per unit) <u>$139,650 </u>
Total product costs $497,350
Answer:
Service revenue of $ 440
Explanation:
When the customer prepays, the revenue is yet to be earned hence the entries required would be a debit to cash account and a credit to unearned or deferred revenue.
As the service is rendered and revenue is earned, debit the deferred revenue account and credit the revenue account with the amount earned.
Since $660 was collected for 6 training sessions
Revenue from a training session
= 1/6 × $660
= $110
After 4 training sessions, revenue earned and to be recognized in the income statement
= 4 × $110
= $440
