Answer:
Journal Entries
Date Accounts Titles Debit Credit
Nov 1 Warranty expense $3,120
($52,000 * 6%)
Estimated warranty payable $3,120
Nov 20 Estimated warranty payable $1,600
Cash $1,600
Dec 31 Vacation benefit expense $6,000
Vacation benefit payable $6,000
Dec 31 Employee bonus expense $1
,515
Employee bonus payable $1,515
<u>Working</u>
Bonus = 3% * (Net income-Bonus)
Let bonus= x
x = 3% * (52,000 - (1+x))
x = 0.03 * (52,000- (1+x))
x = 1560 - 1.03
1.03x = 1560
x = $1,560 / 1.03
x = $1,514.5631
Bonus= $1,515
Answer:
<em><u>Elasticity is an important economic measure, particularly for the sellers of goods or services, because it indicates how much of a good or service buyers consume when the price changes. When a product is elastic, a change in price quickly results in a change in the quantity demanded.</u></em><em><u>The concept of elasticity for demand is of great importance for determining prices of various factors of production. Factors of production are paid according to their elasticity of demand. In other words, if the demand of a factor is inelastic, its price will be high and if it is elastic, its price will be low.</u></em>
Explanation:
hope it helped you...mate!
Answer:
variable overhead rate 11.96 dollars
Explanation:
5,189,000 manufacturing overhead from which:
2,486,000 are fixed so:
<u>variable overhead: </u>5,189,000 - 2,486,000 = 2,703,000
this overhead is generated from machine hours thus we divide the expected overhead over the machine hours to know the rate.
2,703,000 / 226,000 = 11.96017699 = $ 11.96 variable overhead rate
Answer:
Option "E" is the correct answer to the following question.
Explanation:
It is believed that fashion can change in a small interval of time. Fashion related.
goods or merchandise may be the change in a small interval.
Fashion is completely based on the thinking of human, with the changing of human thinking, fashion also keeps changing.
Therefore, Fashion merchandise's demand depends on short period of time.
Answer:
I understand this completely true fact
Explanation:
majic
