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VLD [36.1K]
3 years ago
9

St. Claire Manufacturing expects to produce and sell 6,000 units of Big, its only product, for $20 each. Direct material cost is

$2 per unit, direct labor cost is $8 per unit, and variable manufacturing overhead is $3 per unit. Fixed manufacturing overhead is $24,000 in total. Variable selling and administrative expenses are $1 per unit, and fixed selling and administrative costs are $3,000 in total. According to generally accepted accounting principles, inventoriable cost per unit of Big would be: Group of answer choices $18.50 per unit $17.00 per unit $13.00 per unit $14.00 per unit
Business
1 answer:
Taya2010 [7]3 years ago
5 0

Answer:

According to generally accepted accounting principles, inventoriable cost per unit of Big would be $17.00

Explanation:

Absorption Costing method is suitable for external reporting purposes and thus preferred in reporting According to the generally accepted accounting principles (GAAP)

Absorption Costing Includes Both Fixed and Variable <em>Manufacturing Overheads</em> in Product Costings Calculations

<u>Calculation of Inventory  Cost per Unit According to Absorption Costing:</u>

Direct material                                                                       2.00

Direct labor                                                                            8.00

Variable Manufacturing Overhead                                       3.00

Fixed Manufacturing Overhead ($24,000/6,000)              4.00

Inventory Cost per Unit                                                        17.00

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The following selected transactions relate to liabilities of Chicago Glass Corporation for 2016. Chicago's fiscal year ends on D
melisa1 [442]

Answer:

cash   7,600

   nearned revenue   7,600

cash    7,300

   refundable deposist 7,300

cash                           57,100

refundable deposist   7,300

unearned revenue      7,600

      service revenue              76,000

sales tax expense 45,600

     state tax payable    30,400

     local tax payable    15,200

Explanation:

(1) as the services are not yet perform, this is a liability for Chicago Glass Corportation. It assumes to obligation of do this services.

(2)This will be refund once the job are complete and the containers returned in good form

(3) 72,000 - 7,600 = 64,400 - 7,300 = 57,100

Chicago deduct rom the invoince the previous payment and the refundable deposits once the transaction is finished.

(4)

760,000 x 4% = 30,400

760,000 x 2% = 15,200

30,400 + 15,200 = 45,600

5 0
3 years ago
This past year inflation in Snowdonia has increased to 150%. As an economic analyst, you are charged with identifying those sect
masya89 [10]

Answer:

disabled veterans living on fixed (non-adjustable) government transfer payments

Explanation:

Here the group income should remains the fixed or same for the time period so at the time when the price of the goods rised up or the value of the money reduced so it would become hard for the inflation event

Therefore the group of people who deals in veterans i.e. disabled and lived on fixed government transfer payment should be worst impacted by the inflation

4 0
2 years ago
The ________ reflects the opportunity costs of spending funds now versus achieving a return through another investment, as well
algol [13]

The Discount rate reflects the opportunity costs of spending funds now versus achieving a return through another investment, as well as the risks associated with not receiving returns until a later time.

Explanation:

The discount rate relates to the interest rates on loans that the Federal Reserve Bank borrows from central banks and financial institutions through the commercial bank loan mechanism.

The rate of barriers, financial assets and discount rates are all equal. The next best potential investment option with a comparable risk profile wins the rate of returns. The word ' opportunity expense' is a clear and generic concept that can be used any day of the day.

5 0
3 years ago
The top managers of an organization typically use a variety of financial indicators to assess the performance of their organizat
AnnyKZ [126]

Answer:

Four significant types of financial measures are :-  

1. Profitability or re-turn on investment :- rate of profitability is utilized by the top administrator to know the increase or profit for the speculation comparative with the measure of cash contributed. This is likewise utilized by the supervisor to know the gross productivity, net benefit, return on resources, rate of profitability, gaining per share, speculation turnover and deals per representative.  

2. Liquidity ratio :- liquidity proportion is utilized by the top chief to realize the organization's capacity to pay its present commitment. organization's liquidity proportion incorporates current proportion, speedy proportion, money to add up to resource, deal to receivable, Days' receivables proportion, Cost of deals to payable, and money turnover.  

3. Leverage ratio:- Leverage ratio is utilized by the chief to know the solvency of the organization. Influence incorporates Debt to value proportion, Debt proportion, Fixed to worth proportion, and Interest inclusion.  

4. Efficiency ratio - productivity proportion is utilized by the top supervisor to gauge the organization's capacity to utilize its assets and oversee liabilities successfully for the time being. It incorporates Annual stock turnover, Inventory holding period, Inventory to resources proportion Inventory/Total Assets, Accounts receivable turnover Net (credit) Sales/Average Accounts Receivable and Collection period 365/Accounts Receivable Turnover

4 0
3 years ago
Identify and explain two ways in which Manuel could communicate with individual workers about their pay and working conditions.​
LenaWriter [7]

Does he speak spanish?

5 0
3 years ago
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