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svetoff [14.1K]
3 years ago
14

Jason's Outdoors manufactures two products: snow skis and water skis. Jason's managerial accountant suspects that product cost d

istortion through factory overhead allocation is occurring where snow skis are underpriced and water skis are overpriced. As a result, all of the following statements are true except WHAT?
Business
1 answer:
Ainat [17]3 years ago
4 0

Answer:

Jason's accountant should consider a single plantwide rate to correct the problem.

Explanation:

If a company manufactures products that consume factory overhead costs in different ways, a single plantwide rate may not accurately allocate factory overhead costs to the products and cause cost distortions. Cost distortions can cause companies to lose sales and make incorrect decisions on expanding production.

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3 years ago
Pamper Me Salon Inc.’s general ledger at April 30, 2017, included the following: Cash $5,000, Supplies $500, Equipment $24,000,
seraphim [82]

The beginning balances should be entered in the general ledger as of April 30, 2017, as

follows:

A. Beg. Bal

Supplies

(Beg. Bal 500]

Equipment,

[Beg.Bal___ 24000]

‘Accounts Payable

72100 Beg. Bal

Notes Payable

110000 Beg. Bal

neared Service Revenue

1000 Beg. Bal

Common Stock

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Retained Earnings

11400 Beg. Bal

D.  

Prepare the trial balance as follows:

PM Salonine.

Trial Balance

As on May 31, 2017

Account Titles Debit ($) Credit ($)

Cash 5100

Supplies 1200

Equipment 24000

‘Accounts Payable 1200

Unearned Service Revenue 1200

Notes Payable 10000

Common Stock 5000

Retained Earnings 11400

Service Revenue 6000

Salaries Expense 2400

Rent Expense 1000

Advertising Expense 500

Utilities Expense 400

Interest Expense 50

Income Tax Expense 150

Total 34800-34800

Learn more about balances here:- brainly.com/question/24914390

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6 0
1 year ago
problem 08-07 (algo) you are the manager of a monopolistically competitive firm, and your demand and cost functions are estimate
Ad libitum [116K]

Demand function: Q = 48 - 2P

a) 2P = 48 - Q

Therefore the inverse Demand function is

P = 24 - Q/2

b) P = 24 - Q/2

Total Revenue = PQ = (24 - Q/2)*Q

TR = 24Q - Q2/2

MR = differentiating TR with respect to Q

MR = 24 - Q

We know a firm will maximize profit at MR = MC

TC = 6 + 3Q + Q2

MC = 3 + 2Q

Putting MR = MC, we have

24 - Q = 3 + 2Q

24 - 3 = 2Q + Q

21 = 3Q

Q = 21/3 = 7

Q = 7

Putting the value of Q in the equation P = 24 - Q/2

P = 24 - 7/2

P = 24 - 3.5

P = 20.5

Therefore the profit-maximizing output is 7 and the price is $20.5

c) TR = PQ = 20.5*7 = $143.5

TC = 6 + 3Q + Q2 = 6 + 3*7 + 7*7 = 6 + 21 + 49 = $76

Profit = TR - TC = 143.5 - 76 = $67.5

Therefore the firm's maximum profit is $67.5

d) a) entry will occur until profits are zero

In the long run, more and more firms will enter the market and the economic profit will be zero in the long run.

In economics, a Demand function is a graph depicting the connection between the price of a sure commodity and the amount of that commodity that is demanded at that fee. call for curves may be used both for the price-amount courting for a person client, or for all purchasers in a selected marketplace.

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5 0
1 year ago
Explain how market research is different than marketing.
Elenna [48]

Answer:

Although both involve consumers, Marketing research is concerned specifically about marketing processes, such as advertising effectiveness and salesforce effectiveness, while market research is concerned specifically with markets and distribution.

Explanation:

6 0
2 years ago
When units are moved from one processing department to the​ next, the cost associated with those units must also be moved from o
KonstantinChe [14]

These costs​ called as Transferred costs.

<h3><u>Explanation:</u></h3>

The costs that are accumulated during the time of  upstream production process in a firm refers to Transferred costs. These are associated with the goods that are transferred to the next department of a business from one department. With this product there will be a continuation of the production process.

These are semi finished goods that are transferred for the purpose of continuing the production process. When these units are moved form the  processing  department to the next department, these transferred cost will be transferred from one work in process account to the next account.

7 0
3 years ago
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