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3 years ago

14

Prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a review of insurance policies an

d payments shows that $900 of unexpired insurance remains at year-end

1 answer:

artcher [175]3 years ago

8 0

Answer:

Insurance expense for the year = $4,700 - $900 = $3,800 Journal...

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An electronics firm is currently manufacturing an item that has a variable cost of $0.50 per unit and a selling price of $1.00 p

Ne4ueva [31]

Answer:

Part (a) Should the firm buy the new equipment

The Firm Should not Buy the New Equipment since there is No Profit ( instead $1000 Profit lost) from this decision and is in a worse off position than before.

Part (b) should the company buy the new equipment and increase the selling price?

The Firm Should Buy the New Equipment since an incremental Profit of $ 1500 is expected from this decision.

Explanation:

Part (a) Should the firm buy the new equipment

Do Not Buy Buy New Equipment

$ $

Sales 30,000 50,000

Less Variable Cost 15,000 30,000

Contribution 15,000 20,000

Less Fixed Costs 14,000 20,000

Net Income 1,000 0

The Firm Should not Buy the New Equipment since there is No Profit ( instead $1000 Profit lost) from this decision and is in a worse off position than before.

Part (b) should the company buy the new equipment and increase the selling price?

Do Not Buy Buy New Equipment

$ $

Sales 30,000 49,500

Less Variable Cost 15,000 27,000

Contribution 15,000 22,500

Less Fixed Costs 14,000 20,000

Net Income 1,000 2,500

The Firm Should Buy the New Equipment since an incremental Profit of $ 1500 is expected from this decision.

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3 years ago

Suppose that you have been given a summer job as an intern at Issac Aircams, a company that manufactures sophisticated spy camer

Phoenix [80]

Answer:

Product Costs :

2. Rent on equipment used in the factory.

3. Lubricants used for machine maintenance.

5. Soap and paper towels used by factory workers at the end of a shift.

6. Factory supervisors salaries

7. Heat, water, and power consumed in the factory.

10. Workers compensation insurance for factory employees.

11. Depreciation on chairs and tables in the factory lunchroom.

15. The cost of packaging the company`s product.

Period Costs :

1. Depreciation on salespersons cars.

4. Salaries of personnel who work in the finished goods warehouse.

8. Materials used for boxing products for shipment overseas.

9. Advertising costs.

12. The wages of the receptionist in the administrative offices.

13. Cost of leasing the corporate jet used by the company`s executives.

14. The cost of renting rooms at a Florida resort for the annual sales conference.

Explanation:

<em>Product Costs</em> are Costs attached to Product and Included in Valuation.

<em>Period Costs</em> are Not Attached to Products and are expended in Income Statement during the Period in which they are incurred.

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3 years ago

Give an example of a specialist external agency that a café could use to advertise for an accountant in their head office.

vesna_86 [32]

Answer:

A finance reporting accountant prepares periodic financial statements required for external reporting. They collect and analyze financial data, ensuring that all reporting complies with SEC and GAAP reporting regulations and guidelines. They also prepare internal reports as required.

Explanation:

Please mark Brainliest!

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2 years ago

Suppose the mean gpa of all students graduating from a particular university in 1975 was 2.30. the registrar plans to look at re

coldgirl [10]

My notation would be myx = M(XC+%) and the mean is Summat.

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3 years ago

What type of economy is an economic system in which private businesses can operate freely with minimal state control?Henry lives

Sonja [21]

Answer:

Private business freedom : Capitalist or Market Economy. Henry is more likely in Socialist Economy.

Explanation:

Economy type in which private sector has full freedom, un-intervened by government or state control is Capitalist or Market Economy. Profit maximisation motive & high consumer choice, sovereignity such economy's main features.

Henry's country which gives incentives to reallocate production choice 'what to produce' (from consumer goods to military goods). He has more efficient idea for work implementation, but lacks incentive (probably due to lack of creative & innovative ideas reward). These features characterise a Socialist Economy, in which government or state has supreme power over central economic decisions. Social welfare is considered priority, government monopoly curbs innovation & creativity, there is less consumer choice, sovereignity.

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3 years ago