1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
slavikrds [6]
3 years ago
11

A company sells goods for $150,000 that cost $54,000 to manufacture. Which statement is true? a. The company will recognize sale

s on the balance sheet of $150,000. b. The company will recognize $96,000 gross profit on the balance sheet. c. The company will decrease finished goods by $54,000. d. The company will increase finished goods by $54,000.
Business
1 answer:
kirza4 [7]3 years ago
7 0

Answer:

The correct answer is C

Explanation:

Finished goods are those goods which have been finished or completed through the process of the manufacturing or purchased or bought in the completed form, but not sold yet to the customers.

The finished goods cost or expense is considered to be a asset which is short term in nature, which is expected to be sold in less than a year or period.

So, when the company sold the goods that worth $54,000 to the manufacture for $150,000, this will lead to decrease in the finished goods of the company which worth $54,000.

You might be interested in
Freytag Corporation's variable overhead is applied on the basis of direct labor-hours. The company has established the following
Serjik [45]

Answer:

a. -$783 Unfavorable

b. 550 Favorable

Explanation:

a. The computation of Variable Overhead Rate Variance is shown below:-

Variable Overhead Rate Variance = Actual hours × (Standard Variable Overhead rate per hour - Actual Variable Overhead rate per hour)

= 8,700 × ($4.10 - ($36,540 ÷ 8,700)

=  8,700 × ($4.10 - $4.19)

= 8,700 × -$0.09

= -$783 Unfavorable

b. The computation of Variable Overhead Efficiency Variance is shown below:-

Variable Overhead Efficiency Variance = Standard Variable Overhead Rate per Hour ×  (Standard Hours for Actual Production - Actual Hours)

= 5.5 × ((5.5 × 1,600) - 8,700)

= 5.5 × (8,800 - 8,700)

= 5.5 × 100

= 550 Favorable

5 0
2 years ago
States request assistance from other states through interstate mutual aid and assistance agreements such as:
egoroff_w [7]

States request assistance from other states through interstate mutual aid and assistance agreements such as Emergency Management Assistance Compacts (EMACs)

Explanation:

EMAC, Emergency Management Assistance Compact-all aspects of mutual assistance compact which is at the core of the nation's program of mutual aid.

Since the 1950 Civil Defense and Disaster Treaty signed by the US, EMAC is the first treaty national disaster relief international. Convention. Convention. In 1996, 50 states have passed laws to become EMAC participants in their adoption and signing into statute, Columbia, Puerto Rico, Guam, US Virgin Islands and the Northern Mariana Islands.

A flexible and clear program allowing states to send personnel, supplies and resources to help in response and rehabilitation in other states provides assistance in Governor-declared emergencies or disaster areas.

8 0
3 years ago
The company uses up $5,000 of an existing asset and the company adjusts its accounts accordingly. this is an example of a(n)?
labwork [276]

The company uses up $5,000 of an existing asset and the company adjusts its accounts accordingly. This is an example of a deferral adjustment.

It is a deferral adjustment on account that a current asset had been used up, which means its miles deferred like supplies expenses are recorded on the year stop relying upon how much resources had been used in the course of the year.

Deferrals are adjusting entries for items bought earlier and used up in the destiny (deferred fees) or whilst coins are received in advance and earned inside the future (deferred sales).

The primary distinction between accrual and a deferral is that accrual is used to deliver forward an accounting transaction into the current period for recognition, whilst a deferral is used to put off such popularity until a later length.

Learn more about deferral adjustment here brainly.com/question/16967814

#SPJ4

5 0
1 year ago
If you’re thinking about a career as an applied mathematician, you should consider researching the_cluster. Within this cluster,
Alexxandr [17]

Within this cluster, you'll find that most of the careers require in order to have the knowledge and skills nee. If you're thinking about a career as an applied mathematician, you should consider researching the (STEM, Information Technology, or ArtsA/V Technology and preforming arts) cluster.

8 0
2 years ago
Read 2 more answers
Which of the following statements is CORRECT? a. Because of tax effects, an increase in the risk-free rate will have a greater e
Anastaziya [24]

Answer: I found the complete Question: Which of the following statements is CORRECT?

a. Because of tax effects, an increase in the risk-free rate will have a greater effect on  the after-tax cost of debt than on the cost of common stock as measured by the  CAPM.

b. If a company's beta increases, this will increase the cost of equity used to calculate  the WACC, but only if the company does not have enough reinvested earnings to  take care of its equity financing and hence must issue new stock.

c. When calculating the cost of preferred stock, companies must adjust for taxes,  because dividends paid on preferred stock are deductible by the paying  corporation.

d. Higher flotation costs reduce investors' expected returns, and that leads to a  reduction in a company's WACC.

e. When calculating the cost of debt, a company needs to adjust for taxes, because  interest payments are deductible by the paying corporation.

And the correct answer is "e. When calculating the cost of debt, a company needs to adjust for taxes, because  interest payments are deductible by the paying corporation.".

When calculating the cost of debt issuance, the company, in addition to taking into account the issuance costs, must calculate the cost adjusted for taxes because interest payments are deductible for debt issuing companies.

4 0
3 years ago
Other questions:
  • Suppose that a worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year, and a worker in Sylvania can
    12·1 answer
  • You can spend $10 for lunch and you would like to purchase two cheeseburgers. When you get to the restaurant, you find out the p
    8·1 answer
  • Henderson is a local automobile salesperson. He earns 6% commission on all of his automobile sales. Last month, he earned $9,900
    5·1 answer
  • Salt is the product formed by a reaction in which _______ atoms of an acid are replaced by the atoms of a metal.
    13·1 answer
  • What is one example of a planned economy?
    14·1 answer
  • Hutchins Company had​ 200,000 shares of common​ stock, 50,000 shares of convertible preferred​ stock, and​ $2,000,000 of​ 10% co
    13·1 answer
  • Sylvia Taylor talks about the company’s Total Rewards program, the goal of which is to compensate employees at a competitive lev
    12·2 answers
  • For purposes of computing depreciation on the taxpayer's home for the home office deduction, the depreciable basis of the home i
    10·2 answers
  • I'll give Brainliest to whoever has the best answer.
    9·2 answers
  • Suppose that the expected value of weekly profits for an ice cream​ shop, before paying the​ manager, Amy, is ​E(pi​)equals500pl
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!