The answer is mostly True.
Answer:
b. $307,000
Explanation:
Costs to be accounted in cost reconciliation report = Opening balance of work in process + Cost of production added during the month
= $24,000 + $283,000
= $307,000
Cost reconciliation report shows what costs need to be accounted for in a month and the manner in which they are actually accounted for.
It is a step in preparation of production report which shows how beginning work in process inventory and the costs which are added to production during the period are recorded.
Hence in cost reconciliation report pertaining to the month of Aug, opening work in process and costs added to production during the month are recorded.
Answer:
C) opportunity cost
Explanation:
Opportunity costs are the costs incurred (or benefits lost) from choosing one activity or investment over another alternative.
In this case, Bobby will spend $60 in the concert ticket, but he is also not going to be able to work and earn his salary for the day (or afternoon). That lost salary is the opportunity cost of deciding to go to the concert instead of working.
Answer:
Net change in cash $56,500
Explanation:
The computation of the net change in cash is shown below;
cash inflows from operations $78,500
cash outflows from investing activities -$63,000
cash inflows from the financing $41,000
Net change in cash $56,500
We simply added the cash inflows and deduct the cash outflows so the net change in cash could come
