Answer:
the variable costing unit product cost is $77
Explanation:
The computation of the variable costing unit product cost is shown below:
= Direct material + direct labour + variable manufacturing overhead
= $39 + $27 + $11
= $77
hence, the variable costing unit product cost is $77
We simply added the three items so that the variable costing unit could come
The same would be relevant
Answer: The income statement should reflect $15,000.
Explanation: The reason is because accounting procedures are always guided by certain principles or concepts. One of such concepts is the Realization Concept. This simply states that income is considered to have been earned when the goods/services have been dispatched /rendered to the client and the client has incurred liability for such (or has accepted his/her indebtedness). The Accrual Concept is also applicable in the above instance because this concept/principle states that revenues and expenses are recognized as soon as they are earned and incurred and not when money is expended or received. So basically, XYZ Law firm has provided services for two clients. One of them has paid while the other will pay sometime later. Both of them are already recognized as revenue and the current income statement will reflect revenue transactions to the tune of $15,000.
D) Can be submitted online or by mail
The answer is <span>Price ceiling, shortage
Price celing will set up a certain number where the maximum price of a certain product could be sold.
By setting price ceiling, the price will appear more acceptable among buyers which caused a massive demand and will eventually lead to shortage.
</span>
Answer: $44,800
Explanation:
Given that,
Investment = $41,500
cash and equipment = $19,500
Office supplies purchases on credit = $220
Paid cash for the receptionist's salary = $2700
Cash received from selling custom frame service = $6000
Framing services = $350
Ending cash flow = Capital brought in by Larry Bar - Paid cash for the receptionist's salary + Cash received from selling custom frame service
= $41,500 - $2700 + $6000
= $44,800
