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3 years ago

Which term describes what a manufacturer spends for goods or services?

Business

2 answers:

MA_775_DIABLO [31]3 years ago

5 0

"Cost" is a term describes what a manufacturer spends for goods or services.

Cost refers to the financial value of goods and services that producers and shoppers buy. In a fundamental financial sense, cost is the proportion of the elective open doors inevitable in the decision of one great or action over others. This basic expense is generally alluded to as happenstance cost. For a buyer with a settled pay, the open door cost of obtaining another residential machine might be, for instance, the estimation of a get-away outing not taken.

Hoochie [10]3 years ago

4 0

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

Cost is a term describes what a manufacturer spends for goods or services.

In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.

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Marin Company's accounts receivable arising from sales to customers amounted to $131000 and $114000 at the beginning and end of

nekit [7.7K]

Answer:

$481,000

Explanation:

To determine the cash flows from operating activities, the net Income for the year must be adjusted by non - cash items and changes in working capital items.

Therefore, given a decrease in Accounts Receivable $17,000 ($131000 - $114000) . Then the cash flows from operating activities to be reported on the statement of cash flows is $481,000 ($498000 - $17,000) .

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3 years ago

Supplies are assets until they are used. When they are used up, their costs are reported as expenses. The costs of unused suppli

mezya [45]

Question Completion:

Describe the accounting treatment of Supplies Expenses.

Answer:

Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.

Explanation:

This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.

7 0

3 years ago

Larry lives in Chicago and runs a business that sells guitars. In an average year, he receives $793,000 from selling guitars. Of

OLga [1]

Answer:

1. Explicit cost

2. Implicit Cost

3. Implicit Cost

4. Explicit cost

Accounting Profit is $62000.

Economic Profit is -$3000. (a loss of $3000)

Explanation:

Explicit costs are those costs incurred by a business that require an outlay of money as a result of operating a business.

Implicit costs, on the other hand, are the costs that do not require an outlay of money as a result of operating a business. They are instead the opportunity costs of operating a business or the benefits that are foregone.

1. The wages and utility bills are a result of operating a business and requires and outlay of money as their payment. They are explicit costs.

2. The rental income could have been earned if Larry rented the showroom he is using to operate his business from. The rent foregone is an opportunity cost and is an implicit cost.

3. The salary Larry could have earned is also something that Brian has to forego to operate his business and is an implicit cost.

4. The cost of purchases paid to manufacturer requires outlay of money and is an explicit cost.

Accounting profit = Total Revenue - Total explicit cost

Economic profit = Total revenue - (Total Explicit Cost + Total Implicit Cost)

Accounting Profit = 793000 - 430000 - 301000 = $62000 profit

Economic profit = 793000 - (430000 + 301000 + 15000 + 50000) = -$3000 loss

6 0

3 years ago

The marketing plan can be thought of as a tactical plan. True False

stiks02 [169]

Answer:

True

Explanation:

The marketing plan details the strategy that a company will use to market its products to customers. The plan identifies the target market, the value proposition of the brand or the product, the campaigns to be initiated, and the metrics to be used to assess the effectiveness of marketing initiatives.

4 0

3 years ago

Rob Lowe would like to invest $100,000 in Franklin Inc., which is offering common stock, preferred stock, and bonds on the open

jeka57 [31]

Answer:

1. Franklin Inc. is not under any legal obligation to pay divided to common stock holders. A company can only pay dividend when it makes profit. A company may not pay dividend even when it makes profit because payment of dividend at the discretion of board of directors. Dividends on common stocks are not fixed.

Payment of dividend to preferred stock holders is fixed because preferred stocks are fixed income securities. Dividend in this case does not depend on the financial fortune of a company. In case of cummulative preferred stocks, arrears of dividend in a given year can be carried forward to another year.

Franklin Inc is under a legal obligation to pay interest to debenture holders because the company is under bond to pay principal and interest as and when due. Bonds are also fixed income securities in which interest is fixed regardless of whether the company makes profit or not.

2. Rob Lowe is advised to invest in bonds because he is guaranteed of his principal and interest as and when due since the interest on bond and principal do not depend on the financial fortune of the company.

Explanation:

In the first case, explanations were made on the obligation of the company to pay dividend or interest.

In the second case, explanations were provided on the appropriate investment to undertake.

8 0

3 years ago