Answer:
a.
Date Account Title Debit Credit
Feb. 20 Cash $174,800
Common stock $144,000
Paid-In Cap. in excess of par $30,800
<u>Working</u>
Common stock = 18,000 * 8
= $144,000
Paid-in cap. = 174,800 - 144,000
= $30,800
b.
Date Account Title Debit Credit
Feb. 20 Cash $174,800
Common stock $174,800
c.
Date Account Title Debit Credit
Feb. 20 Cash $174,800
Common stock $72,000
Paid-In Cap. in excess of par $102,000
<u>Working</u>
Common stock = 4 * 18,000 = $72,000
Paid in cap = 174,000 - 72,000 = $102,000
I think it's "<span>hypothecation" but I'm not 100% sure.</span>
Answer:
A) Owned private passenger autos
B) Mobile equipment registered to drive on public roads
D) Automobiles owned by employees used for business purposes
Explanation:
Business Auto Coverage Form is used to cover a company's autos, trucks, trailers, semitrailers and mobile equipment that are owned or used by the company.
It also covers vehicles that are not owned by the company but are used by the company's employees while doing business related activities, e.g. automobiles owned by employees and used for business activities.
It only covers mobile equipment that is registered to drive on public roads, e.g. cranes, drills, shovels, tractors, etc.
ANSWER
C. DIMINISHING Returns to property/ scale
EXPLANATION
Returns to Scale is a production concept used in Long Run (when all factors are variable i.e changeable)
It denotes relative change in output when all inputs change in same proportion .
Increasing Returns to Scale : Proportionate Increase in Output > Proportionate Increase in all inputs .
Constant Returns to Scale : Proportionate Increase in Output = Proportionate Increase in all Inputs .
Negative Returns to Scale : Proportionate Increase in Output < Proportionate Increase in all Inputs .
So : If all inputs are doubled (X2) - If output increases equal i.e double (X2) , Constant Returns to Scale . If output increases more i.e triple (X3) , Increasing Returns to scale . If output increases less i.e (1.5X) , Decreasing Returns to Scale.
Answer:
Contribution margin per unit = $18.55
Explanation:
Contribution margin = Net sales value - Variable cost per unit.
Variable cost per unit will be same as that of average variable cost, as is completely proportional to number of units.
Variable cost is 100% avoidable for the units not produced.
Thus,
Total Variable cost per unit shall be:
Direct material = $5.50
Direct Labor = $3.95
Variable manufacturing overhead = $1.95
Sales Commission = $1.20
Variable administrative expense = $0.85
Total variable cost = $13.45
Selling price per unit = $32.00
Therefore, contribution margin per unit = $32 - $13.45 = $18.55
