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3 years ago

What is unlimited liability?

1 answer:

6 0

Unlimited liability refers to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can't pay its liabilities.

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The Macro Islands can produce either 250 bamboo towels or 500 botanical soaps using all its resources. The Micro Islands can pro

jarptica [38.1K]

Answer:

The Micro Islands have a comparative advantage in producing botanical soaps.

Explanation:

Comparative advantage can be defined as the ability of an economy to produce a good at lower opportunity cost than other economies. This enables the economy sell the product at lower prices, therefore having higher margin of profit than other economies.

The opportunity cost of Micro Island in producing 300 botanical soaps is the cost of producing 30 bamboo towels. The opportunity cost is quite low.

While for Macro Island the opportunity cost of producing 500 botanical soaps is 250 bamboo towels. The opportunity cost is higher than for Micro Island.

6 0

3 years ago

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017 I

SSSSS [86.1K]

Answer:

cost of goods manufactured schedule

Raw Materials ($9,180 + $55,020 - $17,480) $46,720

Direct Labor $51,740

Manufacturing overheads :

indirect labor $6,510

factory insurance $4,700

machinery depreciation $4,380

machinery repairs $1,990

factory utilities $3,740

miscellaneous factory costs $1,980

Add Opening Work In Process $5,670

Less Closing Work In Process ($7,610)

Cost of goods manufactured $119,800

Explanation:

Cost of goods manufactured schedule shows a summary of results (cost) obtained from manufacturing activity during the production period.

7 0

2 years ago

The marketing concept states that the social and economic justification for an organization’s existence is the satisfaction of c

Goshia [24]

Answer:

True

Explanation:

The satisfaction of customer is the key need of survival for any business.

As the customer satisfaction will result into good branding, economic support and vital performance booster for the organisation.

Customer satisfaction ensures that the organization is socially and economically viable, and equally capable of running business with the perspective of growth.

Thus the above stated statement is

True

7 0

3 years ago

A manufacturer of hospital supplies has a uniform annual demand for 320 comma 000 boxes of bandages. It costs $10 to store one

mash [69]

Answer:

100 times per year

Explanation:

Data provided in the question:

Annual Demand , D = 320,000 boxes

Cost of storing one box, C = $10

Plant set up cost for production, c = $160

Now,

The optimal ordering quantity = $\sqrt\frac{2cD}{C}$

The optimal ordering quantity = $\sqrt\frac{2(160)(32,000)}{10}$

= 3200

Therefore,

Number of timer in year company produce boxes = $\frac{\textup{Demand}}{\textup{Optimal order quantity}}$

= $\frac{\textup{320,000}}{\textup{3,200}}$

= 100 times per year

4 0

3 years ago

Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpet

Usimov [2.4K]

Answer: please find the explanation column for answers

Explanation:

journal entry to record the sales transaction of a merchandising company:

Date Account Debit Credit

Apr 1 Account receivables $5,400

Sales $5,400

To record cost of goods sold

Apr 1 Cost of merchandise sold $3,240

Merchandise inventory $3,240

2. To record sales return of goods.

Date Account Debit Credit

Apr 4 Sales Return $620.00

Account Receivable $620.00

Cost of merchandised returned

Apr 4 Merchandise Inventory $372.00

Cost of Goods Sold $372.00

3.To Record Sales made from merchandise

Date Account Debit Credit

Apr 8 Account Receivable $2,200.00

Sales $2,200.00

To Record cost of merchandise Sold

Apr 8 Cost of Goods Sold $1,540.00

Merchandise Inventory $1,540.00

4.Journal to record payment received from sales of merchandise

Date Account Debit Credit

Apr 11 Cash $4,780.00

Account receivable $4,780.00

Calculation

Amount due from Apr 1 st sale less than return on April 4 =Account receivables - Sales Return= $5,400- $620=$4,780.00

4 0

3 years ago