Answer:
a set of assumption framework and methodologies used in the study of application of financial reporting principles
Answer:
The contribution margin ratio can be calculated using either total amounts or per unit amounts.
Explanation:
Contribution margin ratio = 
This can even be done by 
This will calculate contribution as a percentage of Sales, with this margin ratio we get break even sales value, and not the units.
Whenever there is an increase in variable cost it decreases the contribution.
Therefore, correct statement is
The contribution margin ratio can be calculated using either total amounts or per unit amounts.
Answer:
$68 appears as the amount unearned but received (or still paid in advance) in the closing statement
Explanation:
Amount received in advance = $100
Amount earned = $32
Amount (in advance at closing) is the difference between the amount originally paid in advance and the amount earned
Amount (in advance at closing) = $100 - $32
= $68
The amount that will appear in the closing statement as rental payment still in advance is $68.
Price Elasticity of Supply. The price elasticity of supply is calculated as the percentage change in quantity divided by the percentage change in price.
Using the Midpoint Method
PES = ((Q2-Q1) / ((Q2 + Q1) / 2)) / ((P2-P1) / ((P2 + P1) / 2))
PES = (((10) - (7)) / (((10) + (7)) / 2)) / (((50) - (40)) / (((50) + (40)) / 2))
PES = 1.59
the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%
answer:
the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%
Answer:
Unit cost= $5,5unit
Explanation:
Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in a reporting period.
Generally accepted accounting principles require that the cost of goods sold shall consist of:
the cost of direct materials
the cost of direct labor
the cost of manufacturing overhead
Expenses that are outside of the manufacturing facilities, such as selling, general and administrative expenses, are not product costs. They are reported as expenses on the income statement in the accounting period in which they occur.
<u>In this exercise:</u>
Cost of goods manufactured:
Direct materials= $13700
Direct Labor=$4800
Factory overhead= 800hours*$25=$20000
Total= $38500
Unit cost= 38500/7000=$5,5unit
