Based on how each product consumes activities, activity-based costing allocates selling and administrative expenses. Hence, Option D is the correct statement.
<h3>What do you understand by Activity-based costing?</h3>
A costing technique that identifies activities in an organization and assigns the cost of every activity to all services and products in line with the real consumption via way of means of each is referred to as Activity-based costing.
This version of the costing technique assigns greater indirect costs into direct fees as compared to traditional costing.
Hence, Based on how each product consumes activities, Activity-based costing allocates selling and administrative expenses. Option D is the correct statement.
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Answer:
1. Net cash provided by operating activities for the year = $130
2. Ending cash balance = $85
Explanation:
Note: This question is not complete. A complete question is therefore provided before answering the question. See the attached pdf file for the complete question.
The explanation to the answer is now provided as follows:
1. Use the indirect method to determine the net cash provided by operating activities for the year.
Note: See the part 1 of the attached excel file for the calculation of the net cash provided by operating activities for the year.
Note: See the part 1 of the attached excel file for the calculation of the net cash provided by operating activities for the year.
Cash flows from operating activities refers to the section of the cash flow statement that shows the cash generated and provided by the ongoing regular business activities of a company in a particular period. Cash flows from operating activities normally comprise of net income from the income statement, adjustments to net income as well as changes in working capital.
2. Prepare a statement of cash flows for the year.
Note: See the part 1 of the attached excel file for the statement of cash flows for the year.
Statement of cash flow refers to the financial statement that presents the effect of changes in balance sheet accounts and income on cash and cash equivalents by breaking it down to operating, investing, and financing activities.
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Answer:
Explanation:
The journal entry is shown below:
Work in Process-Molding A/c Dr $3,000
To Accounts Payable Control $3,000
(Being the purchase and used production is recorded)
The computation of the purchase amount is shown below:
= Number of kgs purchased × price per kg
= 500 kgs × $60
= $3,000
The other information which is given is not considered. Thus, ignored it
Each firm in the monopolistic competitive industry produces a slightly differentiated product.
The monopolistic competition occurs where competitive firms produces or manufactures products or services that are similar and close substitutes to one another.
The characteristics of the monopolistically competitive market includes:
- presence of many sellers in the market
- easy entrance and exit of consumers in the market
- differentiated products in the market.
Therefore, the Option D is correct because each firm in the monopolistic competitive industry produces a slightly differentiated product.
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Answer:
The lower prices create more demand for product from the nation with a reduction in the money supply, which leads to International Balance of Statement Differences
Explanation:
Gold standard is a monetary stem that links the value of paper money to gold.This system were used to balance income differences between countries. Countries with a balance of payments surplus would receive gold inflows, while countries in deficit would experience an outflow of gold
Here, Gold is the standard for International balance of payments differences.
Under the gold standard, gold flows reduce the money supply in one nation when another nation experiences a trade surplus.
The nation with a trade surplus has a swell in the money supply, which leads to price increases. At the same time, the nation with a reduction in the money supply will cause prices to fall.
The lower prices create more demand for product from the nation with a reduction in the money supply, which leads to International Balance of Statement Differences.
