Answer:
The answer is: D) Debit Accounts Payable $1500; Credit Merchandise Inventory $1500
Explanation:
The correct records should be:
Dr Accounts Payable account 1,500
Cr Merchandise Inventory account 1,500
Accounts Payable is a liability, and when liabilities decrease (the returned merchandise reduces the debt), they should be debited.
Merchandise Inventory is an asset, and when assets decrease (some merchandise was returned), they should be credited.
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Explanation:
Yes this statement is true.
Explanation:
The sale of banana will add the twice contribution in the GDP as because the price is double and the sell of every single unit in the market in comparison of apple is able to add more currency in the economy than a sell of every single unit of apple.
The higher price may affect the sale as people will move to the other alternative but how much sell of banana will take place will able to add more money in the market as compared to apple.
Answer:
A.
Room and meals= $240 per day
Radiology = $215 per image
Pharmacy = $50 per physician order
Chemistry lab = $80 per test
Operating room = $1,000 per operating room hour
B.
<u>Patient Putin</u>
Unit = $1,585
Total = $10,640
<u>Patient Umit</u>
Unit = $1,585
Total = $6,025
Explanation:
Activity rate = Total Overhead Cost / Total Activity
Room and meals= $240 per day
Radiology = $215 per image
Pharmacy = $50 per physician order
Chemistry lab = $80 per test
Operating room = $1,000 per operating room hour
<u>Patient Putin</u>
Unit Total
Room and meals $240 $1,440
Radiology $215 $860
Pharmacy $50 $300
Chemistry lab $80 $40
Operating room $1,000 $8,000
Total $1,585 $10,640
<u>Patient Umit</u>
Unit Total
Room and meals $240 $960
Radiology $215 $645
Pharmacy $50 $100
Chemistry lab $80 $320
Operating room $1,000 $4,000
Total $1,585 $6,025
Answer:
It is more convenient to continue processing.
Explanation:
Giving the following information:
Cobe Company has already manufactured 17,000 units of Product A for $25 per unit. The 17,000 units can be sold at this stage for $450,000. Alternatively, the units can be further processed at a $280,000 total additional cost and be converted into 5,800 units of Product B and 11,100 units of Product C. Per unit selling price for Product B is $100 and for Product C is $56.
We need to determine whether it is more convenient to sell the units now, or continue processing.
Sell now:
Income= 450,000 - (17,000*25)= $25,000
Continue processing:
Income= sales produc B + sales product C - joint cost - Product A cost
Income= 5,800*100 + 11,100*56 - 280,000 - (17,000*25)= $496,600
It is more convenient to continue processing.
Answer:
The long run is best defined as a time period
- during which all inputs can be varied.
One thing that distinguishes the short run and the long run is
- the existence of at least one fixed input.
Explanation:
On the long run, all productive inputs can be changed and/or altered. that includes fixed costs like equipment and machinery, building facilities, processes, wages, etc.
On the short run, at least one of the inputs used to produce our goods or services cannot be changed, e.g. wages tend to be sticky, fixed costs (depreciation of equipment and machinery, buildings, etc.)
