Answer:
C) Specialty product
Explanation:
Specialty products are products that customers actively seek to buy because:
- the products possess unique or outstanding characteristics (e.g. luxury goods or sports cars).
- brand loyalty: loyalists have a strong preference for certain products and they will go out of their way to visit a store just to buy that product.
Consumers who purchase specialty products know what type of product they want and don't mind to spend time searching for that product.
Answer:
$820
Explanation:
Firstly, we need to find the overhead cost.
Overhead cost = 15 hours × $18
= $270 per hour
Labor cost = $15 hours × $12
= $180 per hour
Direct material = $370.
Therefore,
Total cost = $370 + $270 + $180
= $820
Total cost that should be assigned to the job is $820
Gross Profit = $145000
It can be solved with two methods one is by making reverse Income Statement or with the use of equations
<u>Net Income 29500</u>
Income Tax Expense 52500
Other expenses:
Loss from sale of investment 93000
Interest Expense 85000
<u>Income from Operations 260000</u>
Operating expenses 405000
<u>Gross Profit 145000</u>
Net sales 1200000
What is Gross Profit?
Gross profit is determined by deducting opening stock, purchase and direct expenses from sales and closing stock. It can also be determined by deducting cost of goods from sales.
GROSS PROFIT = Sales - Direct expenses
The sale value of your goods less the cost of manufacturing it is your gross profit. It's the sale price of your services less the cost of a time it took to complete the task for a service-based business. Total sales (sometimes referred as the revenue or turnover) less the total cost of goods sold is another term for gross profit.
To know more about gross profit refer
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Answer:
Identification of Features Applying More to Job Order Operations, Process Operations, or Both:
Features
1. Cost object is a process. Process Operations
2. Measures unit costs only at period-end. Process Operations
3. Uses indirect costs. Both
4. Transfers costs between Work in
Process Inventory accounts. Process Operations
5. Uses only one Work in Process account. Job Operations
6. Uses materials, labor, and overhead costs. Both
Explanation:
The main difference between the two operations is the manner costs are accumulated. Job operations accumulate costs for different jobs that are not similar. Process operations accumulate costs to show the process a product passes through. The product of a process operation is not unique like the product of a job operation.
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They play a central of roles in a business environment. They help an organization or business keep inventories of information assets (including legacy and relational data sources, cubes). They also help to compare and contrast sales figures between one period and the next. Dss help in projeected revenue estimate based on product sales assumptions. They also assist in theoretical and technical issues in the support of borderline decision</span>
