Answer:
Company’s Cost of Goods Manufactured = $1,506,500
Explanation:
Use following formula to calculate cost of goods manufactured
Cost of Goods Manufacture = Direct Material cost + Direct labor cost + Manufacturing overhead + Work in process beginning balance - Work in process Ending balance
Cost of Goods Manufacture = $523,000 + $215,000 + $774,500 + $78,000 - $84,000
Cost of Goods Manufacture = $1,506,500
Answer:
See Explanation
Explanation:
Given
The histogram
Required
The class width
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The class width is:
Using the first class, as reference:
So, the class width is:
Answer: The matching principle
Explanation: Matching principle is a combination of accrual accounting and revenue recognition. It states that the expenses of a company must be recorded at the same accounting period in which they were incurred to earn such revenues.
In the given case, Apple is reporting the warranty expenses at the same time period in which the revenue from such expenses is recognized.
Hence we can conclude that the given case illustrates the matching principle.
Answer:
Management is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
Explanation:
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