Answer:
Ethics of accounting information is providing accounting information to make good economic decisions in the financial statement of the organization.
Explanation:
Answer:
Credit to Paid-In Capital from Treasury Stock for $860
Explanation:
Based on the information given we were told that Treasury stock was purchased for the amount of $4,330 last month in which it was reissued this month for the amount of $5,190 which means that The journal entry to record the reissuance would include a credit to:
Paid-In Capital from Treasury Stock for $860
Calculated as:
Reissued treasury stock $5,190
Less last month Treasury stock $4,330
Paid-In Capital from Treasury Stock 860
The full question is:
A farm grows soybean and produces chickens. The opportunity cost of producing each of these products increases as more of it is produced.
The farm adopts a new technology which allows it to use fewer resources to produce soybean.
With the new technology, the opportunity cost of producing a chicken _____ because _____ soybeans must be forgone to produce a chicken.
Answer:
increases; more
Explanation:
Opportunity cost is the forgone alternative when a particular line of action is undertaken. For example in the given scenario more production of chicken will lead to loss of soyabean production and vice versa.
So when there is production of more chicken more opportunity cost is incurred because more of soyabean production is forgone in order to produce the chicken.
Economists consider opportunity cost seperately from the actual cost incurred in taking up a particular activity.
Answer:
Transfer price would be $ 20 less profit part = $ 13
Explanation:
Is necessary to deduct the 35% of the price.
As there is no outside market for the component, and part is normally sold at price of $20, which includes profit.
Hence transfer price would be $ 20 less profit part = 13
Answer:
The dollar variance is -$100.
The percent variance is -20%.
Since the actual income is less than the budgeted income, the variance is unfavorable (U).
We calculate Dollar Variance as : 
Next, we calculate percent variance as :
Plugging the values in we get,
Percent Variance = -20%
