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3 years ago

Select the correct answer.

Business

1 answer:

Anna71 [15]3 years ago

8 0

The correct answer is Choice B.

When a business makes a sale and expects to be paid in the near future it should be recorded as an Account Receivable. In this case the company will have a debit entry to Accounts Receivable and a credit entry to Service Revenue.

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Cameron Manufacturing Co.'s static budget at 5,000 units of production includes $40,000 for direct labor and $5,000 for variable

Xelga [282]

Answer:

C) variable costs of $72,000 and $25,000 of fixed costs

Explanation:

To determine the flexible budget we must first calculate the variable costs of producing 8,000 units:

direct labor per unit = $40,000 / 5,000 units = $8 per unit

electric power per unit = $5,000 / 5,000 units = $1 per unit

total variable cost per unit = $8 + $1 = $9

Total variable costs for 8,000 units = 8,000 units x $9 per unit = $72,000

Total fixed costs = $25,000

4 0

3 years ago

Which of the following refers to the process of collecting, analyzing, and interpreting data about customers, competitors, and

yKpoI14uk [10]

Answer:

d. Market research

Explanation:

Market research -

It is one of the important step for the organisation ,

In this process , the information and data is collected , analysed and interpreted with respect to the customers reviews or feedback .

This step helps to enhance the production , sale and marketing of the goods and services the company produces , which in turn increases the profit earned by the company .

Hence , from the given information of the question ,

The correct option is d. Market research .

3 0

3 years ago

A total of $3,700 in supplies was purchased during the year. By the end of the year, the company had used $2,200 of the supplies

Dafna11 [192]

Answer:

Supplies expense $2200 Dr

Supplies $2200 Cr

Explanation:

The adjusting entries are made at the end of the accounting period under the accrual basis of accounting. The accrual principle states that the revenue and expenses for a period should be matched and recorded in that particular period.

Supplies expense is calculated by determining the amount of supplies at start of the year and adding the purchases of supplies. At the end of the year, the closing inventory of supplies is determined and the difference between supplies available and the closing inventory is charged as supplies expense.

Supplies expense = Opening Inventory + Purchases - Closing inventory

Supplies expense = 3700 - 1500 = $2200

4 0

3 years ago

You open a clothing business and have to pay rent even if you do not produce any clothing. Rent is a _____. fixed cost variable

just olya [345]

<span>Rent is a fixed cost. Regardless of if you produce any clothing, you are still using that building to make the clothes. Even if you aren't making any clothes, but you are still occupying the building, you will have to pay the rent. The rent is based on the building, not the clothes.</span>

3 0

3 years ago

Read 2 more answers

Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowe

gtnhenbr [62]

Answer:

Since 2019, the deduction limit for interest expense deductions on qualified higher education loans is $2,500. In order to qualify for this deduction, the taxpayer's adjusted AGI must be less than $85,000 for single filers (Lionel's income is below the threshold).

So Lionel will be able to deduct $1,440 as interest expense (above the line deduction).

Lionel can also deduct $2,500 form the American Opportunity Tax Credit for higher education expenses.

6 0

4 years ago