Answer: $238,800
Explanation:
Adjusted Cost of Goods for November = Beginning Finished good inventory + Cost of goods manufactured - Ending Finished goods inventory - Overapplied Overheads
Overapplied Overhead = Overhead applied - Actual Overhead
= 60,400 - 56,800
= $3,600
Adjusted Cost of Goods for November = 58,000 + 215,000 - 30,600 - 3,600
= $238,800
Country A would have absolute advantage because it produces the most pounds of bananas per year per growing acre.
<h3>What is Absolute advantage?</h3>
This is defined as the ability to produce more than available competitors in the market.
Country A produces more pounds of bananas per year per growing acre which is why it has an absolute advantage over country B.
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Answer:
Flexible resources
Explanation:
Flexible resources are defined as those that can be utilised under different categories of resource groups.
They are able to serve multiple functions.
For example money can be used for different activities like production of goods, training of staff, purchase of raw materials, and so on.
Time can be allocated to different endeavours.
Same applies to energy. It can be focused on pursuing various objectives
Answer and Explanation:
1. The Journal entry is shown below:-
Notes receivable Dr, $33,000
To Sales revenue $33,000
(Being sales is recorded)
2. The computation of interest is shown below:-
Interest = $33,000 × 4% × 6 ÷ 12
= $660
3. The Journal entry is shown below:-
Cash Dr, $33,660
To Interest income $660
To Notes receivable $33,000
(Being collection of notes receivable is recorded)
