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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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Answer:

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Explanation:

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Some of the rational expectations theory's premises are that <em>people hold expectations that will be met, variables values (price, output, and employment) are taken into account, </em>and <em>individuals are always trying to maximize their profits.</em>

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the value of the marginal product of any input is equal to the marginal product of that input multiplied by the:_____.
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The value of the marginal product of any input is equal to the marginal product of that input multiplied by the: <u>market price</u>  of the output.

<h3>How to find the marginal product?</h3>

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The value of marginal product can be calculated by making use of this formula

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Therefore the statement that complete the statement is market price  of the output.

Learn more about marginal product here:brainly.com/question/14867207

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The correct answer is letter "A": If a business raises it prices, will that have a large or small on demand?

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