Answer:
Explanation:
3,800 units
x 0.05 hours per unit
190 labor hous
x $9.90 per hour
$1,881
4,300 units
x 0.05 hours per unit
215 labor hours
x $9.90 per hour
$2,128.5
We first multiply units bythe time it takes to do a single unit,
this will be the total labor hours required for the production
Then we apply the labor rate to get the labor cost.
Answer:
Lopez Sales Company
1. Amount of Gross Margin recognized by Lopez:
Sales = $81,600
Less cost of sales = $38,400
Gross Margin = $43,200
2. Amount of the gain on the sale of land recognized by Lopez:
Land:
Selling price = $81,000
less Cost = $43,200
Gain on sale = $37,800
Explanation:
a) Gross margin is the difference between the selling price and the cost price of a product. It is the profit determined before business running expenses are deducted to obtain the net income or margin.
It measures the ability of the business to generate enough income to cover expenses that are normally incurred in business, like rent, utilities, and salaries and wages.
b) The Gain on sale of any capital asset is the difference between the selling price and the cost (book value). This gain is reported separately in the income statement and is the subject of capital gains tax.
Answer:
The correct answer is all income statement accounts are temporary
Explanation:
Income statement is that part of financial statement set aside for determining profits or losses made in accounting period.
The main reason for preparing income statement is to arrive at the retained earnings which are later posted to the balance sheet.
All accounts in the income statement are temporary as they do not have balances carried forward at the end of a period unlike balance sheet where assets,liabilities and equity have opening and closing balances.
It is for the reason that inventory when purchased is first debited to the balance sheet and posted to income statement when the profit is to be determined and also closing inventory is immediately transferred back to the balance sheet.
Answer:
As given below.
Explanation:
1. The t-distribution is based and dependent on the sample size.
2. The t-distribution is more valued at the extremes thus has a standard normal distribution.
3. The t-distribution is bell-shaped and is centered at 0.
4. The t-distribution is a kind of bell-shaped and is centered at its degrees of freedom.
5. With larger samples, the t-distribution is close to the normal distribution.
- Being symmetric in shape and a bell-shaped distribution of the normal distribution this is more prone to produce the values that are found its mean.
- Its an estimation of the unknown parameters and uncertainty of data. In case the deviation of the errors was known, the normal distribution would be used instead of the t-distribution or student's distribution.
Several of the readings highlight the differences between firms in realizing IT value. The biggest factors in creating these differences are growth prospects , earning history , location, concentration, staff and management, reputation etc.
Growth prospects - this factor looks at how much potential the business has to grow in the future.
Earning history - In earning history, income is a major factor in valuation of any business.
The importance of IT value is the first way to increase value is simply to increase the speed you deliver the kind of value people are willing to, offer better quality.
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