Answer:
(a) Cost of the Tramel job:
= Direct material cost + Direct labor cost + overhead applied
= $1,900 + $500 + (140% of $500)
= $1,900 + $500 + $700
= $3,100
(b) Overhead cost A/c Dr. $500
To Material A/c $400
To Labor A/c $100
Answer:
February 1,
DR Accounts receivable <u>5,000</u>
CR Sales <u>5,000
</u>
<em>(To record Credit Sale)</em>
Sales to be credited as sales are credited when they increase. Accounts Receivables are credited when they increase as well as they are Assets.
Answer:
loan to value = 80%
Explanation:
given data
contract price = $100,000
mortgage loan = $80,000
appraised value = $110,000
solution
we get here loan to value ratio that is
loan to value = .................1
here lender use less of contract price or appraised value
so put here value in equation 1 we get
loan to value =
loan to value = 0.80
loan to value = 80%
Answer:
b. Storing
Explanation:
Based on the information being provided in regards to Kendra's situation in running her candy store, it seems that Kendra is adding value by storing inventory. This is the case because customers do not want to purchase large quantities but instead want to purchase single candy cases at a time. Which Kendra is providing that to her customers as well as always having stock available to sell. Thus increasing the value that the customers are getting from Kendra's store.
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