To solve: add up all in the labor costs and then divide by the number of units produced to get the per unit cost of the labor.
<span>Direct materials = $4,400
Direct labor = $5,600
Factory overhead = $2,400
Units produced = 1,000
Per unit cost = ($4,400 + $5,600 + $2,400)/1,000
Per unit cost = $12,400/1,000
Per unit cost = $12.40</span>
Answer:
The company must not make any adjustment entries in year x3 since the FOB means "Free on board" and at the moment the buyer delivers the goods at the port of shipment, at that time the risks of loss or damage of merchandise are transferred to the buyer from the seller
When this happens, the sale is made since the seller no longer owns the merchandise.
n this case, the seller does not own the merchandise since December 28 and has already made the corresponding records. so he should not make any adjustments.
Answer:
1. True
2. False
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
An example of perfect competition is the market for farm produce.
I hope my answer helps you
Answer:
The correct answer is A)
Explanation:
There is no good or service that is unlimited.
The concept of the Barter system was simply a method of exchanging value for value.
- It was phased away due to several reasons:
- It was not a good store of value as many of the goods were perishable
- it didn't make for good administration: It was too cumbersome and problematic. Imagine having to store three trailers of eggs awaiting a barter exchange
Cheers!
Community colleges offer two-year programs that enable students to obtain an associate degree. Community colleges are smaller colleges within each community that will allow a person to go to college and study for an associates degree. After the completion of the associates degree, the student can continue their education at a four year college or join the workforce.
