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3 years ago

For product costs associated with a particular product to be reported on the income statement:

Business

1 answer:

RUDIKE [14]3 years ago

6 0

Answer:

a. The product must be sold

Explanation:

Total revenue and total expenses are recorded in the income statement.

If the total income exceeds than the total expenditure then the company earns net income And if the total income is less than the total expenditure then the company has a net loss.

The product includes direct material cost, direct labor cost ,and the manufacturing overhead cost. If the product cost is not sold then it is shown in the asset side of the balance sheet as an inventory

And, if the product is sold, the same is subtracted from the cost of goods sold and shown in the income statement

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In texas, the dual budgeting system consists of separate budgets from which two groups?

Ilya [14]

In Texas, the dual budgeting system consists of separate budgets from The legislative and executive branches. This is further explained below.

<h3>What is a dual budgeting system?</h3>

Generally, Both the legislative and executive arms of government in Texas are responsible for creating their own budgets under the state's dual budgeting system.

In conclusion, Therefore, the dual budget process offers a division of tasks that often has more to do with historical structures, political goals, prospective funding sources, and institutional capabilities than with the actual nature and purpose, including accurate description, of the expenditures themselves.

Read more about the dual budgeting system

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2 years ago

Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for

Katen [24]

Answer:

M1 allocated joint cost is $196,521.63

Explanation:

In calculating the joint cost allocated to product M1, the formula below comes handy:

M1 allocated joint cost=M1 net realizable value/total realizable value*total joint costs

Note that net realizable value id the selling price less further to make the sales,since there is no further costs to be incurred in making the sale, the selling price ultimately is the net realizable value.

M1 net realizable value is $402,000

total realizable value is $763,000

total joint cost is $373,000

M1 allocated joint cost=$402,000/$763,000*$373,000

M1 allocated joint cost= $196,521.63

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3 years ago

Mark is an excellent cook. He does not have any formal training but learned to cook by following the recipes of several famous c

Nataly_w [17]

Self-interest...........

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3 years ago

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HVAC Heating & Air Conditioning, Inc., is a public company whose shares are traded in thepublic securities markets. Under th

Tcecarenko [31]

Answer:

the correct answer is

(A) internal "disclosure controls and procedures.

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4 years ago

Assume that each day ten thousand children watch sesame street on public television and that watching sesame street generates a

aleksandr82 [10.1K]

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4 years ago