Answer:
$336.60 per unit
Explanation:
The computation of selling price per unit is given below:-
For computing the selling price per unit first we need to follow some steps which is shown below:-
Total fixed costs = Fixed overhead costs + Fixed selling and administrative costs
= $679,000 + $114,000
= $793,000
Fixed cost per unit = Total fixed costs ÷ Number of units expected to be produced
= $793,000 ÷ 12,200
= $65 per unit
Total costs per unit = Direct materials + Direct labor + Variable overhead + Fixed cost per unit
= $122 + $52 + $67 + $65
= $306
Now,
Selling price per unit = Total cost per unit × (1 + Markup)
= $306 × (1 + 10%)
= $306 × 1.1
= $336.60 per unit
Answer: Option D
Explanation: In simple words, unearned revenue refers to the liability account that depicts the cash that is received in the current for the supply of good or service that will be made in some future period.
For example- a door to door newspaper seller taking advance subscription fees for one year or any event organizing committee taking advance money for tickets of a concert that will happen in the future.
Such incomes can only be recognized when the intended service is completed for the customer.
Answer:
The accrual principle
The main purpose of adjusting entries is to update the accounts to conform with the accrual concept. At the end of the accounting period, some income and expenses may have not been recorded, taken up or updated; hence, there is a need to update the accounts.
<span>The supply curve represents the lowest price at which a firm is willing to accept. The supply curve shows the lowest price the producer is willing to accept for a unit of their product. Producers need to make sure they aren't losing money but selling their products to wholesalers to then sell to the consumer. The producer needs to make a profit off of their product as well. This is where the supply curve comes in, it allows the firm to set the lowest price they can accept when they sell their units off. </span>
