If average cost is falling, marginal cost must also be falling.<br> True<br> False

The space between a cover letter closing and the author’s typewritten name is called the _____.

slava [35]

The space between a cover letter closing and the author's typewritten name is called the signature line. This would be the space where you would either physically sign your name with a pen above the type written name once you have printed the letter out or if you are sending it electronically where you would insert a copy of your signature. You must always have a signature on cover letters.

3 0

3 years ago

Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 $ 41,000 Di

xeze [42]

1. The calculation of the predetermined overhead rate applied to jobs during August is <u>75% of direct labor costs</u> ($90,000/$120,000).

2. The balance in the Work in Process account at the end of August is $61,000.

3. The amounts of direct material cost and applied overhead recorded for Job 248 as of August 31 are $19,000 and $18,000, respectively.

<h3>Data and Calculations:</h3>

Work In Process Balance, August 1 $ 41,000

Direct materials used 75,000

Direct labor 120,000

Manufacturing overhead applied (based on direct labor cost) 90,000

Total costs incurred = $326,000

<h3>Finished Jobs during August: </h3>

Job # Cost of Jobs Completed

234 $ 58,000

237 65,000

231 74,500

246 67,500

Total costs of finished jobs = $265,000

Work in process balance = $61,000 ($326,000 - $265,000)

<h3>Job in Process: Job 248:</h3>

Direct labor cost incurred = $24,000

Applied overhead = $18,000 ($24,000 x 0.75)

Direct materials = $19,000 ($61,000 - $24,000 - $18,000)

Thus, the work-in-process balance represents Job 248 (Direct labor $24,000, Direct materials $19,000, and Applied Overhead $18,000).

Learn more about job costing at brainly.com/question/24516871

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7 0

2 years ago

Which option best completes the following sentence? Every decision you make is a(n) ______________ decision because you are choo

Ivenika [448]

First blank: economic

Second blank: limited resources

6 0

3 years ago

Consider the following cash flows: Year Cash Flow 2 $ 22,200 3 40,200 5 58,200 Assume an interest rate of 9 percent per year. a.

miss Akunina [59]

Answer:

Total FV= $134,711.26

Explanation:

Giving the following information:

Cash Flow:

Cf2= $22,200

Cf3= $40,200

Cf5= $58,200

Interest rate= 9 percent per year.

To calculate the future value, we need to use the following formula on each cash flow:

FV= PV*(1+i)^n

Cf2= 22,200*(1.09^3)= 28,749.64

Cf3= 40,200*(1.09^2)= 47,761.62

Cf5= 58,200

Total FV= $134,711.26

8 0

4 years ago

Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial b

Vaselesa [24]

Answer:

(a) Multi-step income statement that would be used for internal reporting purposes

Sales Revenue 217,400

Less Cost of Goods Sold (126,800)

Gross Profit 90,600

Less Operating Expenses

Salaries and Wages Expense 21,800

Office Expenses 22,800 (44,600)

Operating Income 46,000

Less Non Operating Expenses

Interest Expense (3,200)

Net Income Before Tax 42,800

Income Tax Expense (12,840)

Net Income After Tax 29,960

(b) Multi step income statement that would be used for external reporting purposes

Sales Revenue 217,400

Less Cost of Goods Sold (126,800)

Gross Profit 90,600

Less Operating Expenses

Salaries and Wages Expense 21,800

Office Expenses 22,800 (44,600)

Operating Income 46,000

Less Non Operating Expenses

Interest Expense (3,200)

Net Income Before Tax 42,800

Income Tax Expense (12,840)

Net Income After Tax 29,960

(c) the gross profit percentage is 41.67%

Explanation:

Internal Reports versus External Reports

Internal reports do not have to conform to any Accounting Standards,However External reports have to confirm and be prepared according to accounting standards for Fair Representation and Comparability purposes

Gross Profit Percentage

Gross Profit Percentage = Gross Profit / Sales × 100

= 90,600/ 217,400 × 100

= 41.67%

8 0

3 years ago

If average cost is falling, marginal cost must also be falling. True False