<h3>Answer:</h3>
Under the periodic inventory system.
What is periodic inventory system?
Under the periodic inventory system, the cost of goods sold determined at the end of an accounting period by adding the net cost of goods purchased to the beginning inventory and subtracting the ending inventory.
Answer:
Period costs= $813,800
Explanation:
Giving the following information:
Units produced 16,000
Variable selling and administrative expense $5
Fixed manufacturing overhead $560,000
Fixed selling and administrative expense $173,800
<u>The period costs are the costs not directly involved in the production.</u>
Period costs= fixed overhead + total variable selling and administrative costs
Period costs= 560,000 + 5*16,000 + 173,800
Period costs= $813,800
Answer: $204,500
Explanation:
The amount in the income summary account before it is closed for the period will be calculated thus:
Revenue = $250,000
Less: Rent expense = $10,000
Less: Utility expense = $3,500
Less: Salary expense = $18,500
Less: Depreciation expense = $9,000
Less: Advertising expense = $4,500
Amount in Income summary account = $204,500
Where its triangle which takes into account a basic design like economic structure etc....
Answer:
.size of the financial institution
Explanation:
The reserve requirement is one of the monetary policies of the Fed used to increase or decrease the money supply in the economy. The Fed will require commercial banks a certain percentage of the cash deposits in their vaults as reserve. Through the reserves requirement, the Fed regulates the amount of money available to be loaned to firms and households.
The amount of reserve a bank is supposed to hold as reverse is dependent on its size. For example, small size banks whose transaction accounts are below 15.2 million are not required to hold reserve. Medium size banks that with transaction account that range from $15.2 million to $110.3 million are required to keep 3 percent of deposits as reserve. Large banks with transaction accounts above $110 million must hold 10 percent as reserve.
