Answer:
The correct answers are:
1. Actor, writer, musician : entertainment.
2. Dietician, optician : health care.
3. Litigator, paralegal, attorney : legal industry
Explanation:
Industries dedicated to consumer service are those whose product is directed directly to a consumer, and not to a company.
The product they offer is a service, and not a material good.
These industries will have professionals or people specialized in the subject who will be in charge of offering and selling this product.
That is what we see in the examples.
The health industry will offer services dedicated to health, therefore it will have professionals dedicated to this field.
The legal industry will have services dedicated to legal issues such as a lawyer, a litigator, etc.
And the entertainment industry will be dedicated to shows, this is where actors, musicians or writers come in.
Answer: 189400
Explanation:
The dollar amount of sales that must be made to produce the target income would be:
= (Fixed costs + Target profit) / Contribution margin ratio
= (80000 + 14700) / 50%
= 94700 / 50%
= 94700 / 0.5
= 189,400
Answer:
a.
Date Account Title Debit Credit
Jan. 31 Product Warranty Expense $15,160
Product Warranty Payable $15,160
<u>Working:</u>
Product warranty expense = Amount of sales for January * Estimated product warranty
= 379,000 * 4%
= $15,160
b.
Date Account Title Debit Credit
Jan. 31 Product Warranty Payable $355
Supplies $250
Wages payable $105
The costs of the warranty will be taken from the liability account for warranties because the warranty payable account represents that the company owes warranty repairs which the customer just came to collect.
Probably production function
Answer:
The estimated total manufacturing overhead is closest to $550,000
Explanation:
Total manufacturing overhead = variable + fixed overhead absorbed
Fixed overhead absorbed = Overhead absorption rate × machine hour
Overhead absorption rate = Estimated overhead/Estimated machine hours
= $440,000/50,000 machine hours
= 8.8 per machine hour
Absorbed fixed overhead = $8.8 × 50,000= $440,000
Absorbed variable overhead= $2.20 × 50,000= $110000
Total manufacturing overhead = $440,000+ 110000
=$550,000
The estimated total manufacturing overhead is closest to $550,000
