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brilliants [131]
3 years ago
15

Average total cost tells us the a cost of a typical unit of output, if total cost is divided evenly over all the units produced.

b total cost of the first unit of output, if total cost is divided evenly over all the units produced. c variable cost of a firm that is producing at least one unit of output. d cost of the last unit of output, if total cost does not include a fixed cost component.
Business
1 answer:
Ivanshal [37]3 years ago
7 0

Answer:

The correct answer is A. The cost of a typical unit of output, if total cost is divided evenly over all the units produced

Explanation:

The average cost is the cost per unit of production, this is also called unit cost or average cost. It is called "average" since it is calculated by obtaining an average based on the fixed costs and variable costs of total production.

The average cost can be defined using a mathematical formula, basically it is calculated by dividing the total cost of production by the total amount of products available for sale per unit.

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B. $42,000

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On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules,
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Explanation:

The journal entries are shown below:

1.  Notes receivable A/c Dr $450,000

          To Cash A/c                               $450,000

(Being the notes receivable acceptance is recorded)

2. Interest receivable A/c Dr $40,500

      To Interest revenue                       $40,500

(Being the interest is collected)

Interest = Principal × rate of interest × number of months ÷ (total number of months in a year)

= $450,000 × 12% × (9 months ÷ 12 months)

= $40,500

The 3 months is calculated from April 1 to December 31

3.  Cash A/c Dr $504,000

             To Notes receivable A/c $450,000

             To  Interest receivable A/c $40,500

             To Interest revenue A/c      $13,500

(Being cash collected recorded)

Interest revenue = Principal × rate of interest × number of months ÷ (total number of months in a year)

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= $13,500

The 3 months is calculated from December 31 to April 1

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