Answer: It is better to delete the check than void the check in order to erase all records of the transaction
Explanation:
When a check is deleted, it should be noted that such check is being removed entirely from the system and also the transaction of the check will no longer be visible anywhere in the system.
Voiding a check mean that the amount of the transaction on the check will be changed to zero but it should be ited that a record of such transaction will still be kept in QuickBooks but deleting it will help remove the transaction in QuickBooks.
When a check is voided, the check details like the check number, account, payee, memo and date will be unchanged, even though the amount will change to zero.
Therefore, the option that says that it is better to delete the check than void the check in order to erase all records of the transaction isn't true.
Answer:
Should shut down if its short-run average variable cost exceeds $25.
Explanation:
This directly explains the firms profit maximizing level of output in a short run. And in the scenario above, the firm made a $25 gain per unit output, it is advised the firm should shut down if its shut run average variable cost exceeds $25.
A process that companies undergo to determine the best output and price levels in order to maximize its return. The company will usually adjust influential factors such as production costs, sale prices, and output levels as a way of reaching its profit goal. There are two main profit maximization methods used, and they are Marginal Cost marginal Revenue Method and Total Cost total Revenue Method. Profit maximization is a good thing for a company, but can be a bad thing for consumers if the company starts to use cheaper products or decides to raise prices.
Answer:
$16
Explanation:
The computation of contribution margin per unit is shown below:-
For computing the contribution margin per unit first we need to find out the selling commission which is shown below:-
Selling commission = Sold product × Selling commission percentage
= $40 × 15%
= $6
Now, Contribution margin = Sales - Variable costs
=$40 - ($18 + $6)
= $40 - $24
=$16
Answer:
Sales for March, 164 * 15 = $2,460
Explanation:
According to the accrual system, the purchases and sales are recorded when they occur. When compared to the cash basis, they are only recorded when actual cash is received or paid for them.
For March the transaction of 164 units has occurred and thus this sale will be recorded.
Sales for March, 164 * 15 = $2,460
This is the revenue recorded for March under accruals, for cash this would have been 0.
Hope that helps.
