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gladu [14]
3 years ago
6

If the salaries of the sales staff of a manufacturing company are improperly recorded as a product cost, what will be the likely

effect on net income of the period in which the error occurs?
Business
1 answer:
Fynjy0 [20]3 years ago
5 0

Answer:

Net Income will be overstated

Explanation:

The journal entry for salaries payable is

Salaries Expense                        Dr.

    To Cash A/C

(Being salaries paid recorded)

Salaries expense is charged to net income and the journal entry is

Net Income                                  Dr.

    To Salaries Payable

Salaries expense reduces net income as it being a deductible expenditure for a corporate.

In the given case,  salary expense has been accounted as a product cost. This would reduce the expenses and thus would overstate the net income.

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Who are the stakeholders who should be involved in the system and acquisition process?
Pavlova-9 [17]

Stakeholders in a business process may include the project manager, employees, donors, investors, shareholders, customers, competitors, suppliers, vendors, local and national communities, internal and external organizations, government and its regulatory agencies and labor unions.

In business, a stakeholder is a member of "the group without whose assistance the organization would cease to exist," as defined in the term first used in a 1963 Stanford Research Institute internal memorandum. This theory was developed and endorsed by R. Edward Freeman in the 1980s.

A stakeholder is a party involved in a business that affects or is affected by the business. The main stakeholders of a typical company are investors, employees, customers and suppliers.

Stakeholders are individuals, groups or organizations directly involved in or indirectly affected by a project, product, service or business. As such, stakeholders also influence why and how companies do business.

Learn more about Stakeholders brainly.com/question/4404879

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3 0
1 year ago
Many experts say that the most distinctive skill a professional marketer might have is the ability to build and manage a​ ______
Cerrena [4.2K]
Many experts say that the most distinctive skill a professional marketer might have is the ability to build and manage a​ <u>brand</u>, <span>which can include a​ name, term,​ sign, symbol, or​ design, or a combination of these.
You know a lot of popular brands, such as Apple, Google, Coca-Cola, Samsung, Toyota, etc. that have managed to create an international recognition because their products are of high quality.</span>
6 0
3 years ago
A firm has zero debt in its capital structure. Its overall cost of capital is 8%. The firm is considering a new capital structur
Oxana [17]

Answer:

 9.8%        

Explanation:

Formula;

Ke=overall cost of capital+(1-.4)(Overall cost of capital-cost of debt)

Where Ke= Cost of equity

overall cost of capital=8%

cost of debt=5%

Ke=8%+(1-.4)*(8%-5%)

Ke=8%+(1.8%)

Ke=9.8%

5 0
3 years ago
Read 2 more answers
Hudson Co. reports the contribution margin income statement for 2015. Contribution Margin Income Statement For Year Ended Decem
inna [77]

Answer:

$60 per unit

Explanation:

The computation of the contribution margin per unit is shown below:

Contribution margin per unit = Selling price per unit - Variable expense per unit

= $240 per unit - $180 per unit

= $60 per unit

It shows a difference between selling price per unit and the variable cost per unit

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
Which of the following is true of variances? a.Unfavorable variances occur whenever actual prices or actual usage of inputs are
Marysya12 [62]

Answer:

B) Favourable Variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.

Explanation:

Variances refer to the difference between actual and standard or budgeted costs. Standard cost is also referred to as budgeted cost. Budgeted costinh can be used by a food nutritionist to determine the food quantity he can cook as well as the ingredient amount which consists of the budgeted costs and the actual cost of preparing the food. Budgeted costchas a major advantage which is its ability to determine the pricing policy even before the product or service is delivered. When favourable or unfavourable variances are mentioned, it refers to the greater of budgeted or actual price or quantity. Favourable goes with a greater actual price or quantity while unfavorable or adverse goes with a greater standard price or quantity.

5 0
2 years ago
Read 2 more answers
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