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3 years ago

Monthly production costs in Dilts Company for two levels of production are as follows.

Business

1 answer:

ivann1987 [24]3 years ago

8 0

Answer:

Indirect labor= variable cost

Supervisory salary= fixed cost

Maintenance= mixed cost (it should have a minimum amount and then increase with an increase in production)

Explanation:

Giving the following information:

Cost 2,000 Units 4,000 Units:

Indirect labor $10,000 $20,000

Supervisory salaries 5,000 5,000

Maintenance 4,000 6,000

Variable costs changes according to production.

Fixed costs don't vary with production.

Mixed costs have a fixed component and a variable component.

Indirect labor= variable cost

Supervisory salary= fixed cost

Maintenance= mixed cost (it should have a minimum amount and then increase with an increase in production)

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Selling and pledging accounts receivable LO C3 On June 30, Petrov Co. has $128,700 of accounts receivable. July 4 Sold $7,245 of

irakobra [83]

Answer:

Explanation:

The journal entries are shown below:

On July 4:

Accounts receivable A/c Dr $7,245

To Service revenue A/c $7,245

(Being service provided is recorded)

Cost of goods sold A/c Dr $5,000

To Merchandise inventory A/c $5,000

(Being inventory sold at cost)

On July 9:

Cash A/c Dr $19,200

Factory fee expense A/c Dr $800

To Accounts receivable A/c $20,000

(Being payment is received)

On July 17:

Cash A/c Dr $5,859

To Accounts receivable A/c $5,859

(Being cash is received)

On July 27:

Cash A/c Dr $10,000

To Notes payable A/c $10,000

(Being the amount is borrowed)

No journal entry required

4 0

3 years ago

A bank has stock shares of $100,000, property assets of $90,000, and cash of $10,000. If households and businesses decide to dep

Llana [10]

The answer is stock shares = $100,000, property assets = $90,000, cash = $60,000, and loans & advences = $50,000

Given,

stock shares = $100,000,

property assets = $90,000,

and cash = $10,000.

households and businesses decide to deposit $50,000 in the bank as checkable deposits.

The balance sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time.

It also details the balance of income and expenditure over the preceding period.

Therefore when households and businesses decide to deposit $50,000 in the bank as checkable deposits, it will be shown in balance sheet as:

Cash = Previous balance + checkable deposits

= 10,000 + 50,000

= $60,000

Loans & advances : checkable deposits = $50,000

Hence, the balance sheet will be stock shares = $100,000, property assets = $90,000, cash = $60,000, and loans & advences = $50,000.

Learn more about balance sheet:

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8 0

2 years ago

Lok Co. reports net sales of $4,970,000 for Year 2 and $8,532,000 for Year 3. End-of-year balances for total assets are Year 1,

Mumz [18]

Answer:Assets turnover ratio Year 2 =2.87 times

Assets turnover ratio for Year 3 = 4.58times

Explanation:

The total assets turnover is calculated as = Net Sales / Average total assets

also,

Average total assets = (Beginning assets + Ending Assets) / 2

Average total assets for Year 2 = ($1,684,000 +$1,780,000)/ 2 =$1,732,000

Average total assets for Year 3 = ($1,780,000 + $1,949,000 )/2 =$1,864,500

Assets turnover ratio Year 2 =$4,970,000 / $1,732,000 = 2.87 times

Assets turnover ratio for Year 3 = $8,532,000 / $1,864,500 = 4.58times

6 0

3 years ago

Read 2 more answers

Demands differ from wants because:______.

elena55 [62]

Answer:

The correct answer is:

demands reflect a decision about which wants to satisfy and a plan to buy the good, while wants are unlimited and involve no specific plan to acquire the good. (d)

Explanation:

Let me first try to define what demand and want are:

want: want is a desire for a product or service. It is said that wants are unlimited, however, the resources to actualize such wants are in a limited supply.

Demand: Demand is the quantity of good or service that a person is willing and able to pay for because of the availability of resources to do so, at a given price and time.

For a clearer understanding, demand can be seen as a subset of want that a consumer takes a further step to acquire, not just desire. There is a specific plan to acquire such wants.

5 0

3 years ago

What is the purpose of life insurnce

user100 [1]

Answer:

The purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured. It is essential for applicants to analyze their financial situation and determine the standard of living needed for their surviving dependents before purchasing a life insurance policy.

Hope this helps :)

5 0

3 years ago

Read 2 more answers