A store that sells a huge variety of one type of product such as books, in order to dominate that category is called a category
1 answer:
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Answer:
Net Assets = Total Liabilities - Total Assets
Transaction # 1
Cash comes under Permanantly Restricted Net Assets
Hence -
Net Assets = $50,000 - $50,000 = $0
Transaction # 2
As there was no transaction took place hence nothing to be reported.
Transaction # 3
Inventory comes under supply & its temporarily restricted net assets
Hence
Net Assets = $1750 - $1750 = $0
Transaction # 4
Advertising comes under Permanently Restricted Net Assets
Hence
Net Assets = $0 - (-$5000) = $0 + $5000 = $5000
Transaction # 5
Office Equipments comes under Temporarily Restricted Net Assets
Hence
Net Assets = Total Liabilites - Total Assets
= $ 5000 - [ - $5000 + $10000 ]
= $ 5000 - $5000 = $0
Hence ending balance is
Unrestricted Net Asstes = $0
Temporarily Restricted Net Asstes = $0
Permanently Restrcited Net Asstes = $5000
Explanation:
See attached file for table
Answer:
Actual Price paid for materials = $4.2136 2,200 = $9,270
Actual price per unit = $4.2136
Explanation:
Provided information,
Standard Material per unit = $4
Total cost = $8,400
Standard Quantity = $8,400/$4 = 2,100 units
Provided Material Price variance = $470 unfavorable = - $470
Material Quantity Variance = $400 Unfavorable = - $400
Using Material Quantity Variance
- $400 = (2,100 - Actual Quantity) $4
-$400/$4 = 2,100 - Actual Quantity
Actual Quantity = 2,100 + 100 = 2,200 units
Now, putting this value in Material Price Variance we have,
- $470 = ($4 - Actual Price) 2,200
-$470/2,200 = $4 - Actual Price
- $0.214 = $4 - Actual Price
Actual Price = $4 + $0.2136 = $4.2136
Final Answer
Actual Price paid for materials = $4.2136 2,200 = $9,270
Actual price per unit = $4.2136