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4 years ago

Resources are:

Business

1 answer:

MariettaO [177]4 years ago

4 0

Answer:

b.Scarce for households and scarce for economies

Explanation:

A resource is a source of supply form which benefit is produced and has some utility and is broadly classified in there availability. The resources are those that are scare in terms of the households and the economies and depends on the availability of the factors.

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The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s An

frozen [14]

Answer:

Please refer the journal entries below

Explanation:

Trade Discount:

There is no accounting entry for the trade discount, trade discount is simply deducted from the total amount and the entry is passed after incorporating the trade discount

1) Audrey’s Antiques

Since Audrey’s Antiques have taken the services amounting more than $1,000, they are eligible for the trade discount of 12% i.e. ( 12% of $1,900) = $228, hence Income will be recorded at ($1,900 - $228) = $ 1,672

Advertising Fee Receivable Debit $ 1,672

Advertising Fee Income Credit $ 1,672

2) Michael’s Motors

Since Michael’s Motors have taken the services amounting less than $1,000, they are not eligible for the trade discount of 12%

Advertising Fee Receivable Debit $ 540

Advertising Fee Income Credit $ 540

3 0

3 years ago

A lease calls for a minimum rent of $2800 per month plus 4% of annual gross sales in excess of $500,000. What is the annual rent

bonufazy [111]

Answer:

The annual rent is $42,620

Explanation:

The computation of annual rent is shown below:

= Annual rent + (rate × gross sales)

where,

The annual rent is

= Monthly rent × total number of months in a year

= $2,800 × 12

= $33,600

The rate is 4%

The excess gross sales is computed by

= Annual gross sales - gross sales

= $725,500 - $500,000

= $225,500

Now put these values to the above formula

So, the answer would be equal to

= $33,600 + (4% × $225,500)

= $33,600 + $9,020

= $42,620

Hence, the annual rent is $42,620

8 0

3 years ago

Walter Company uses a job-order costing system to account for product costs. The following information pertains to the current y

djverab [1.8K]

Answer:

COGM = 450,000

Explanation:

The amount debited will be equal to the COGM which is the cost of goods manufactured.

COGM = beginnning WIP + cost added - ending WIP

we need to know the cost added during the period:

cost added during the period

materials 140,000

direct labor 160,000

overhead applied

18 x 10,000 = 180,000

total 480,000

Notice, for the overhead we multiply the predetermined rate by the amount of labor hours.

The actual values and adjustment for application of overhead are calculate later at year-end

Now, we are given the following information:

we know that WIP increase by 30,000

so : ending is 30,000 dollars greater than beginning

which implies ending - beginning = -30,000

we plug that into the formula:

COGM = cost added + (beginning WIP - ending WIP)

COGM = 480,000 - 30,000

COGM = 450,000

4 0

3 years ago

What is the importance of the Define Phase in terms of its placement in the DMAIC method?

Gre4nikov [31]

Answer:

b. It clarifies the problem, the process and the customer of the process prior to data collection

Explanation:

DMAIC is an acronym for various phases in carrying out projects and they are Define, Measure, Analyze, Improve, Control.

The Define phase is widely known as the primary phase of DMAIC which is characterized by the project agreement, customer demands and requirements, and process operation strategy.

Hence, the importance of the Define Phase in terms of its placement in the DMAIC method is that " it clarifies the problem, the process and the customer of the process prior to data collection"

4 0

4 years ago

One role of environmental science in the society

nalin [4]

To study and better the enviorment

3 0

3 years ago