The maximum daily profit for the company is $860
<h3>
What is an inequality</h3>
Inequality is an expression that shows the non equal comparison of two or more variables and numbers.
Let x represent the number of bed and y represent the number of pillow, hence:
4x + 2y ≤ 40 (1)
Also:
2x + 4y ≤ 32 (2)
From the graph, the solution is at:
(8, 4)
Profit = 80x + 55y = 80(8) + 55(4) = $860
The maximum daily profit for the company is $860
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Answer: 24 months
Explanation:
The law of the state allows for periods more than 24 months, a 2 years of conversion privilege is required by federal law.
The gross profit is more inportant than the net profit
The accrual-based income statement superior to a cash-based income statements in measuring profitability because It reports the expenses incurred in generating the revenues regardless of when the cash was paid.
What distinguishes the accrual basis of accounting from the cash basis of accounting?
When money is received or spent, it is recorded as revenue using the cash foundation of accounting. When using the accrual basis of accounting, revenues are recorded as they are earned and expenses as they are incurred.
What is an income statement with an accrual basis?
Accounting on an accrual system records revenue and corresponding costs as they are incurred, rather than when money is exchanged. Accordingly, businesses report revenue when it is earned rather than when it is received.
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Answer:
A) $1,020,000
Explanation:
Conversion cost = All the cost incurred to convert raw material into finished goods, this only includes direct labor cost and manufacturing cost.
Thus, here as for provided information,
Manufacturing overhead = $250,000
Direct Labor = $770,000
Thus, conversion cost = $250,000 + $770,000 = $1,020,000
Conversion cost is the cost of efforts made to convert raw material to finished goods, but it does not include raw material cost.
A) $1,020,000
