Answer:
$55 per unit
Explanation:
The computation of the total cost per unit of the product is shown below:
= Total cost incurred ÷ number of units manufactured
= $132,000 ÷ 2,400 units
= $55 per unit
BY dividing the total cost incurred with the number of units manufactured we can get the total cost per unit
All other information i.e shown is not relevant. Hence, ignored it
<u>Full question:</u>
Trent runs a small business in which he manufactures hinges to be used in kitchen and storage cabinetry. He stores the hinges in his warehouse and delivers them to various cabinet makers prior to them completing the cabinets' construction. Trent is a
A. retailer.
B. intrapreneur.
C. service provider.
D. wholesaler.
E. direct marketer
<u>Answer:</u>
Trent is a wholesaler
<u>Explanation:</u>
A wholesaler acquires the goods from a producer in mass quantity and re-sells it to retailers in tiny portions. Wholesalers obtain a central position in the retailing course set-up. Warehousing is an essential marketing function offered by the wholesaler.
A wholesaler holds a huge accumulation of goods for retailers. Wholesalers support to maintain prices by regulating stocks according to demand. Many wholesalers manage their warehouses for stocking goods. . He also trades goods to the retailer on account. Thus, at both edges the wholesaler serves as a financier.
Answer:
The journal entry is as follows:
Retained earnings A/c Dr. $18 million
To common stock $0.30 million
To capital paid in excess A/c $17.70 million
(To record the stock dividend issued at 1%)
Working notes:
Shares issued = 1% of 30 million
= 0.30 million
Retained earnings:
= 0.30 million × $60 per share
= $18 million
Common stock:
= 0.30 million × $1 par value
= $0.30 million
Capital paid in excess:
= Retained earnings - Common stock
= $18 million - $0.30 million
= $17.7 million
Answer:
d. Income Taxes Payable and Salaries Payable
Explanation:
Current liabilities are short term obligations of an entity due for repayment within a period of 12 months.
From the options given d. Income Taxes Payable and Salaries Payable both presents current liabilities.
Answer:
The difference is attributed to sales.
Explanation:
The difference of $10 will be attributed to sales because $20 is charged instead of $30 which means selling price has been changed. However, it cannot be considered as a loss because the cost price is not given. It might be the actual cost price for the item is $15 and the store is selling at $20 instead of $30. So, in this case, the store is making a profit of $5. Thus, the difference is considered as the sale difference.
