Answer:
D. Cost of Goods Sold
Explanation:
The cost of goods sold or simply COGS is a numerical representation of the direct expenses incurred in manufacturing products sold to customers in a period. It is the aggregate of direct labor, direct materials, and overheads used in the production process. COGS apply to manufacturing firms and companies that handle physical goods.
The COGS is deducted from the sales revenue to give the gross profit. Calculating the COGS involves adding the purchases or goods manufactured to the beginning inventory. Ending inventory is deducted from the total to provide the COGS. As per the formula, the COGS does not apply to the service industry.
Answer:
Letter B is correct.<u> Method of authotity.</u>
Explanation:
The method of acquiring knowledge by authority is one of the most widespread ways of obtaining knowledge in society. It is characterized as the implementation and learning of a new idea or belief because some authority figure affirmed a certain concept as true, which ensures greater reliability. and acceptance. As examples of authorities, we can mention: doctors, teachers, bosses, government, parents and others.
But in an ideal scenario it is important to analyze what methods and sources the authority figures have determined for a conclusion about something, one should seek to exercise critical sense to rationalize the beliefs and decisions that are imposed as truth. .
Answer:
Dec 31, 2018
Interest expense 3313.33 Dr
Interest Payable 3313.33 Cr
Explanation:
The note interest is payable at an annual rate of 4%. The interest will be paid at maturity however, an adjusting entry will be made on December 31, 2018 following the accrual basis of accounting to record the interest expense that relates to the period from November to December of 2018. The interest expense will be debited and as the interest will be paid at maturity, interest payable will be credited.
Interest expense = 497000 * 0.04 * 2/12 = $3313.33
Answer:
Marigold break-even point = 400,000 units
Explanation:
given data
Sales = 59000 units
direct materials = $1180000
direct labor = $590000
variable costs = $59000
fixed costs = $360000
solution
we get here Marigold’s break-even point in units that is express as
Marigold’s break-even point = Fixed Cost ÷ (Selling Price - Variable Cost) .............1
Break Even Point = Fixed Cost ÷ Contribution Margin ............2
so here
Contribution Margin will be = 
Contribution Margin = $9
now put value in equation 2 we get
Marigold break-even point = 
Marigold break-even point = 400,000 units
