Answer:
the minimum acceptable price of this special order is $410.
Explanation:
Minimum acceptable price for the special order is the price that gives a Incremental<em> contribution margin of zero</em> or <em>a price that covers all costs related to supporting the special offer</em>.
Since the company has <em>excess capacity</em>, ignore the fixed costs as these are irrelevant for this decision
Costs to Provide for the Special Offer : Minimum acceptable price
Direct materials $150
Direct labor $60
Manufacturing support $105
Marketing costs $95
Minimum acceptable price $410
Accounting clerkAn accounting worker who processes routine details about accounting transactions.hope this helps
Answer:
June 30
Explanation:
According to the revenue recognition principle, the transaction should be recorded in the books of accounts when the sale is made. It records that revenue which is earned and the possibility of the receipt of cash should be high.
It records that when the product and services are sold to the customer and in return customer received it. Whether the payment received later but the sale is made.
So, on June 30, the revenue should be recognized.
Answer:
Debit interest expense and credit interest payable by $150
Explanation:
Given:
Amount borrowed = $30,000
Interest rate = 6%
Maturity = 6 months
If the company prepares monthly financial statements, then interest incurred in the month of November:
Interest expense = 
= $150
Adjusting entry passed:
Date Particulars Debit($) Credit($)
30th Nov Interest expense 150
Interest payable 150
(Being interest expense
accrued)
Answer:
OBJECTIVE AND TASK BUDGETING.
Explanation:
Objective and task budgeting is an effective budgeting strategy which considers the firm’s overall promotional objectives. The budgeting is then done according to the requirements for meeting these goals.
By running television ads and a social media campaign, the marketing manager has created a means to meet his objective or goal which is to improve market share for his paper plates by 2 percent in the coming year. He then proceeds to price how much the advertising would cost him and then sets the budget. This budgeting is done by OBJECTIVE AND TASK BUDGETING. This allows the marketing manager to allocate a certain amount of money to its marketing budget based on his objectives, rather than choosing an arbitrary amount.
