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Pachacha [2.7K]
3 years ago
12

The amount of income that would result from an alternative use of cash is called:_______.

Business
1 answer:
Digiron [165]3 years ago
7 0

Answer:

The answer is opportunity cost

Explanation:

Opportunity cost is the cost of an alternative forgone action. The cost of an action not taken. For example, Mr A had the chance to choose between job X and job Y, if he chooses job X, the salary that job Y will pay if he had chosen them will be the opportunity cost.

Therefore, the amount of income that would result from an alternative use of cash is the OPPORTUNITY COST.

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Indicate whether each of the following is a final​ good, an intermediate​ good, or neither.
butalik [34]

Answer:

  • 1. Coffee beans purchased by a coffee shop   --  intermediate good.
  • 2. One share of Google stock  --   neither.
  • 3. A new pick-up truck purchased by a consumer   --  final good.
  • 4. A new home purchased by a family  --  final good.

Explanation:

  • An intermediate good is a semi-finished good that is used as the inputs of the production and makes them sell and buy the goods. While the final good is one that is finished in processing and is ready to be consumed and those goods that are present in a stocks firm are not used and neither is been developed are google stocks.
7 0
3 years ago
In A Knight's Tale, three friends are deciding what to do with 15 silver coins they won in a jousting tournament. They can spend
kondaur [170]

Answers:

Correct answer:

1. Investment

2. Trade-off of present for future benefit

Incorrect answers:

1. The only possible decision

2. The consumption of consumer goods.

3 0
3 years ago
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $6 per
kupik [55]

Answer:

$192,000

Explanation:

Calculation for What is the value of ending inventory under variable costing

Using this formula

Value of ending inventory =[(Direct materials+Direct labor+Variable overhead+(Fixed overhead/Units produced)×Ending units in inventory]

Let plug in the formula

Value of ending inventory=[($6+ $4+ $5 + ($234,000/26,000 units) ×8,000 units]

Value of ending inventory= ($15 units+$9 units)×8,000 units

Value of ending inventory=$24 per units×8,000 units

Value of ending inventory = $192,000

Therefore the value of ending inventory under variable costing will be $192,000

8 0
3 years ago
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale
Vilka [71]

The Journal Entries to record the transactions for Wainwright Corporation in the month of March 2021 are as follows:

Journal Entries:

a. Debit Cash $600,000

Credit Common Stock $600,000

To record issuance of 60,000 shares of non-par common stock for cash.

b. Debit Equipment $100,000

Credit Cash $25,000

Credit Notes Payable $75,000

To record the purchase of equipment.

c. Debit Inventory $182,000

Credit Accounts Payable $182,000

To record the purchase of inventory on account.

d. Debit Accounts Receivable $270,000

Credit Sales Revenue $270,000

To record the credit sales for the month.

d. Debit Cost of Goods Sold $162,000

Credit Inventory $162,000

To record the cost of goods sold.

e. Debit Rent Expense $8,000

Credit Cash $8,000

To record the payment of rent on the warehouse building.

f. Debit Prepaid Insurance $8,050

Credit Cash $8,050

To record the prepayment of insurance for one year, from April 1, 2021.

g. Debit Accounts Payable $162,000

Credit Cash $162,000

To record payment on account.

h. Debit Cash $121,500

Credit Accounts Receivable $121,500

To record receipt of cash on account.

i. Debit Depreciation Expense $2,500

Credit Accumulated Depreciation $2,500

To record depreciation expense for the month.

Data Analysis:

a. Cash $600,000 Common Stock $600,000

b. Equipment $100,000 Cash $25,000 Notes Payable $75,000

c. Inventory $182,000 Accounts Payable $182,000

d. Accounts Receivable $270,000 Sales Revenue $270,000

d. Cost of Goods Sold $162,000 Inventory $162,000

e. Rent Expense $8,000 Cash $8,000

f. Prepaid Insurance $8,050 Cash $8,050

g. Accounts Payable $162,000 Cash $162,000

h. Cash $121,500 Accounts Receivable $121,500

i. Depreciation Expense $2,500 Accumulated Depreciation $2,500

Read more about recording journal entries at brainly.com/question/17201601

4 0
3 years ago
T Company expects to incur the following per unit costs for 1,000 units of production: Direct materials of 4 pounds per unit at
Vladimir [108]

Answer:

Total overhead =  = $7,500

so here correct option is E. $7,500

Explanation:

given data

production = 1,000 units

direct labor = ¼ hour @ $24 per hour

variable overhead = 75 % of direct labor

fixed overhead = $3,000

to find out

total amount of overhead

solution

we first find Direct labor that is

Direct labor = ¼ × 24

Direct labor = $6

so

Total overhead will be here

Total overhead = Variable overhead + Fixed overhead     .................1

now put here value we get

Total overhead = ($6 ×  75% ) × 1,000 + $3,000

so

Total overhead =  = $7,500

so here correct option is E. $7,500

8 0
3 years ago
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