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2 years ago

Which of the following items is not a product cost?

Business

1 answer:

sineoko [7]2 years ago

8 0

Answer:

d. Transportation cost on goods delivered to customers.

Explanation:

Product cost is defined as the cost a business bears as a result of producing a product. This includes labor, cost of supplies, factory overhead costs, and cost of transporting supplies.

The cost of transporting product to the consumer is logistics cost.

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On January 1, 2021, Nantucket Ferry borrowed $14,000,000 cash from BankOne and issued a four-year, $14,000,000, 6% note. Interes

kari74 [83]

Answer:

If Interest is not Paid yet

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Interest payable $840,000

BankOne

Dr. Interest receivable $840,000

Cr. Interest Income $840,000

If Interest is Paid

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Cash $840,000

BankOne

Dr. Cash $840,000

Cr. Interest Income $840,000

Explanation:

Amount of interest is the expense for Nantucket Ferry and Income for the BankOne on the bond.

As per given data

Amount borrowed = $14,000,000

Coupon rate = 6%

Interest in paid on and received on the bnd is calculated by using the face value and coupon rate of the bond.

Coupon Payment = $14,000,000 x 6% = $840,000

$840,000 will be paid annually to the Bank one.

6 0

3 years ago

Suppose that the U.S. government decides to charge cola producers a tax. Before the tax, 35,000 cases of cola were sold every we

galben [10]

Mark brainlest please

Answer:

The amount of tax will be $3
Tax Burden on consumer is $2
Tax burden on producer ( in case you want to know) will be $1

Check the image below.

Tax is equal to the difference between the price actually paid by the buyer and the price actually received by the seller. Tax= Price paid by buyer-Price received by seller Tax= $8-$5 Tax = $3 Thus the tax computed is $3 per case.

3 0

2 years ago

Which of the following is NOT considered to be one of the three primary functions that all organizations perform? A. research a

ra1l [238]

Answer: The correct answer is "A. research and development".

Research and development are <u>NOT</u> considered as one of the three primary functions that all organizations perform.

Explanation: The basic operating cycle of a company is buy-sell-collect-pay. In some cases, companies can produce the good they sell or directly re-sell it. This implies production, operation and marketing activities to increase sales and for an adequate control of these you need accounting.

Only in particular cases do companies engage in research and development, but it is not something basic.

4 0

3 years ago

Bina Co. purchased a machine on January 1st for $15,000 and estimates it will use the machine for three years with a $3,000 salv

KATRIN_1 [288]

The machine's second year depreciation expense is $3,200.

Depreciation is a method that is used to expense the cost of an asset. The units-of-production depreciation method determines the depreciation expense based on the units of goods that the machine produces in a given year.

Unit of production depreciation expense = (unit of goods produced in year 2 / total units the machine can produce) x (cost of the asset - salvage value)

Total units the machine can produce = 1500 + 1250 + 1000 = 3750

(1000 / 3750) x ($15,000 - $3,000) = $3,200

A similar question was answered here: brainly.com/question/15858628?referrer=searchResults

4 0

2 years ago

Indicate whether the following actions would increase, decrease, or not affect Indigo Inc.'s total assets, liabilities, and stoc

Elenna [48]

Explanation:

The effects are as follows:

a. In the first option, there is No effect in any item of the financial statements

b. In the second option, there is No effect in any item of the financial statements

c. In the third option, there is No effect in any item of the financial statements

d. No impact on the assets but it increases the liabilities side and decreases the stockholder equity

The journal entry is shown below:

Retained earning A/c Dr XXXXX

To Dividend payable A/c XXXXX

(Being cash dividend declared)

When the dividend is declared, the dividend amount should be subtracted from the retained earning account.

And, since the dividend is declared that increases the balance of dividend

In addition, the dividend payable and the retained earning account have a credit balance. The increase in dividend payable account would have credit balance whereas the decrease in retained earning account has a debit balance.

e. Paying the cash dividend declared in (d)

The journal entry is shown below:

Dividend payable A/c XXXXX

To Cash A/c XXXXX

(Being the cash dividend is paid)

Since it reduces the liabilities and the asset side also but it does not have any impact on the stockholder equity

7 0

3 years ago