What is it called when a producer is unable to meet the demand of a certain product?

In October of the current year, received a $15,520 payment from a client for 32 months of security services she will provide sta

sleet_krkn [62]

Answer:

a. When must Janine recognize the income from the $17,360 advance payment for services if she uses the cash method of accounting?

3. Year 0

Cash method of accounting recognizes revenues and expenses when they are received or paid for.

b. When must Janine recognize the income from the $17,360 advance payment for services if she uses the accrual method of accounting?

1. Year 0 and Year 1

c. Suppose that instead of services, Janine received the payment for a security system (inventory) that she will deliver and install in year 2. When would Janine recognize the income from the advance payment for inventory sale if she uses the accrual method of accounting and she uses the deferral method for reporting income from advance payments? For financial accounting purposes, she reports the income when the inventory is delivered.

1. Year 2

She will recognize revenue only after the merchandise is delivered.

d. Suppose that instead of services, Janine received the payment for the delivery of inventory to be delivered next year. When would Janine recognize the income from the advance payment for sale of goods if she uses the accrual method of accounting and she uses the full-inclusion method for advance payments?

5. Year 0

Under this system, advanced payments are considered revenue on the year that they were received.

4 0

3 years ago

In the year 2010, the income per worker in the United States was $82,359 and the income per worker in South Korea was $54,315. T

zhenek [66]

Answer:

The difference in human capital explains $7,863 of the income per worker gap while the difference in physical capital explains $20,181 of the income per worker gap.

Explanation:

Human capital refers to the skills, knowledge, and efforts of the people in producing goods and services. It is also known simply as labor. Physical capital refers to the "man-made" goods that assist in production, including machinery, equipment, and technological items such as computers.

In the given scenario, the income per worker in the United States is $82,359 - $54,315 = $28,044 more than the income per worker in South Korea. This is explained by differences in both the level of technology (i.e. physical capital) and the capability of workers (i.e. human capital).

We are informed that the income per worker in South Korea would be $74,496 if it had the same level of technology as the United States. This means that $74,496 - $54,315 = $20,181 of the income per worker gap between the two countries is explained by differences in physical capital. Hence the remaining difference of $28,044 - $20,181 = $7,863 is explained by differences in human capital between the two countries.

5 0

4 years ago

Given a 7 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,350, $1,550, $1,550, a

igor_vitrenko [27]

Answer:

The present value of cash flows is $ 5,292.13

Explanation:

The present value is today's equivalence of the company's future cash flow discounted using the 7% interest rate as a discount rate.

Formula for pv of a cash flow=cash flow/(1+r)^n

r is the 7% interest rate

n is the relevant year each cash flow relates to

PV=$1,350/(1+7%)^1+$1550/(1+7%)^2+$1550/(1+7%)^3+$1850/(1+7%)^4=

$ 5,292.13

6 0

4 years ago

The following data relate to direct labor costs for the current period:

mr Goodwill [35]

Answer:$2,125 unfavorable

Explanation:

Given

Standard costs 9,000 hours at $5.50

Actual costs 8,500 hours at $5.75

we have two formulas to calculate for direct labor rate variance is:

1ST ----Direct Labor rate variance = (Actual Rate- Standard Rate ) x Actual hour

=( $5.75 -$5.50) x 8,500 = $2,125 unfavorable

2ND----Direct Labor Rate Variance=Actual Direct Labor Cost Incurred - Standard Direct Labor Cost Based on Actual Hours

=Actual Hours x Actual Rate -Actual Hours x Standard Rate

= ($5.75 x 8,500 hours)-($5.50 x 8,500 hours)

$48,875 - $46,750 = $2,125 unfavorable

when the actual rate is higher than the standard rate, the Direct Labor Rate Variance is unfavorable and if the actual rate is lower than standard rate, the variance is favorable.

3 0

3 years ago

Which statement is the converse of the given statment

pochemuha

Might seem controversial though :) but I am pretty sure that the correct variant that properly shows the converse of given statement is the third one. As you know, the converse (in plane language) has the same meaning of the statement just by replacing two points. This statement has positive tone (if you make - you ll have) so it's directly coincides with C(you have, cause you have made)

4 0

3 years ago