Answer:
$3,500
Explanation:
Under variable costing method, product costs are calculated on variable manufacturing costs only.
Step 1 : Determine unit Product Cost
Product Cost = Variable Manufacturing Costs
= $ 35
Step 2 : Determine the units in Inventory
Units in Inventory = Opening Stock + Production - Sales
= 0 + 7,210 - 7,110
= 100 units
Step 3 : Determine Inventory value
Inventory value = Units x Cost per unit
= 100 units x $ 35
= $3,500
Conclusion :
the ending inventory of finished goods under variable costing would be: $3,500
In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decrease in auto sales impacts GDP because new automobiles are counted as <u>consumption </u>when purchased by households and <u>investment</u> when purchased by businesses.
Gross domestic product (GDP) is the overall monetary or market value of all of the goods and services produced within a country's borders in a particular time period.
GDP can be calculated by adding up all of the money spent by consumers, businesses, and the government in a given period. It may also be calculated by adding up all of the money received by all the participants in the economy.
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Answer:
The correct answer is option B.
Explanation:
The Worthingtons have a motor home valued at $165,000.
Their car is worth $32,000.
They have investments worth $200,000.
Their savings is worth $20,000.
They have medical bills worth $1,300.
Their credit card balance is $3000.
Their net worth will be
= Assets - Liabilities
= $(165,000 + $32,000 + $200,000 + $20,000) - $(1,300 + 3000)
= $417,000 - $4,300
= $412,700
The stage of team development during which a group sets guidelines about issues like attendance and punctuality is the norming stage.
What is norming stage of team development?
During the norming stage, agreement arises over the identity of the leader or leaders and the responsibilities of each member. A sense of coherence and unity begins to emerge when interpersonal conflicts start to be resolved. As members start to work together and begin to concentrate on the team's objectives, team performance improves at this stage.
What happens in the norming stage of team development?
Members become more focused on the team's objectives and exhibit a rise in productivity throughout the Norming stage, both in their individual and group work. The team can decide that now is the right time to assess their working methods and productivity.
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Answer:
C) used to record an adjustment to Bad Debt Expense for the year ending December 31, 2021.
Explanation:
Retained earnings account cannot be adjusted after December 31 (or whenever the balance must be done), but bad debt expense can be adjusted, specially if it increases.
Generally a company estimates it bad debt expense, the different methods used to estimate bad debts (allowance, percentage or aging methods) are used more commonly than the direct write-off method. But as every estimate, they can be close to reality or not.
E.g. some companies might have a very important client that represents a large portion of their credit sales, and if suddenly that large client that had always paid on time defaults, that event must be included in the balance sheet since the bad debts expense will increase significantly.
