Answer:
c. $24,750
Explanation:
For computing the fixed cost first we have to determine the variable cost per hour by using high low method which is shown below:
Variable cost per hour = (High total cost - low total cost) ÷ (High desk manufactured - lower desk manufactured)
= ($86,625 - $49,500) ÷ (4,500 desk - 1,800 desk)
= $37,125 ÷ 2,700 desk
= $13.75
Now the fixed cost equal to
= High total cost - (High desk manufactured × Variable cost per hour)
= $ 86,625 - (4,500 desk × $13.75)
= $86,625 - $61,875
= $24,750
C as time is a cost they chose to spend to attend this concert when they could've used their time more efficiently with other things.
Answer:
Amount Debit($) Credit($)
Assets
Cash 37,641
Office Supplies 890
Prepaid Insurance 4,600
Office Equipment 12,900
Liabilities
Accounts Payable 12,900
Equity
Y. Min, Capital 18,000
Y. Min, Withdrawals 3,329
Revenue
Engineering Fees Earned 36,000
Expenses
Rent Expense <u>7,540</u>
Total 66,900 66,900
Explanation:
Trial Balance sheet includes all the accounts available in ledger.
Assets, Liabilities, Equity Revenue and expenses are added, however they are not given in our case
Amount Debit($) Credit($)
Assets
Cash 37,641
Office Supplies 890
Prepaid Insurance 4,600
Office Equipment 12,900
Liabilities
Accounts Payable 12,900
Equity
Y. Min, Capital 18,000
Y. Min, Withdrawals 3,329
Revenue
Engineering Fees Earned 36,000
Expenses
Rent Expense <u>7,540</u>
Total 66,900 66,900
Answer:
Treaty agreement
Explanation:
A treaty agreement is held between an insurer and a reinsurer, where the reinsurer states what classes of businesses it will accept from the insurer. All the policies that qualify under the treaty agreement should be accepted automatically by the reinsurer.
A reinsurer is an insurance company that insures other insurance companies.
