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alex41 [277]
3 years ago
8

Select the correct answer.

Business
1 answer:
kati45 [8]3 years ago
5 0

Answer:

c. collective bargaining

Explanation:

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In a job order costing​ system, a credit to Finished Goods Inventory will be accompanied by a debit to A. WorkminusinminusProces
goldenfox [79]

Answer:

A. Work-in-Process Inventory

Explanation:

What a credit to finished goods inventory actually means is that there was an increase in the number of finished goods. If finished goods increased, it means that the number of goods still being worked on (Work-in-process inventory) has decreased (debit). Thus, this transaction must be accompanied by a debit to Work-in-Process Inventory.

4 0
3 years ago
Sheddon Industries produces two products. The products' identified costs are as follows: Product A Product B Direct materials $
bekas [8.4K]

Answer:

The cost per unit for product B is<em> $ 15 per unit</em>

Explanation:

Only Manufacturing Costs are used in Product Costing. Thus to find the Cost Per Unit of Product B, we Prepare a Manufacturing Cost Summary for Product B.

<u>Step 1 Prepare a Manufacturing Cost Summary for Product B</u>

Direct materials                                                                      $ 15,000

Direct labor                                                                             $24,000

Overhead costs($24,000/$36,000) × $54,000                   $36,000

Total Cost for Product B                                                        $75,000

<u>Step 2 Calculate the Cost Per Unit for Product B</u>

Cost Per Unit = Total Cost / Number of Units Produced

                       =  $75,000 / 5,000 units

                       = $ 15 per unit

<u />

3 0
3 years ago
Read 2 more answers
A ____________________ is a strategy of increasing market share for present products in existing markets.
Alik [6]

As a strategy, market penetration is used when the business seeks to increase sales growth of its existing products or services to its existing markets in order to gain a higher market share.

5 0
2 years ago
The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: Beginni
melamori03 [73]

Answer:

City of Buffalo Falls

a. Journal Entries:

Beginning balances:

Jan.1, 2020 :

Description                 Debit                Credit

Cash                        $93,000

Taxes Receivable  $189,500

Accounts Payable                              $52,250

Fund Balance                                   $230,250

To record opening balances of the General Fund.

Transactions during the year:

Description                 Debit                Credit

Taxes Receivable      $1,230,000

Estimated Revenue                         $1,230,000

To record the estimated revenue for the year.

General Government  $1,227,400

Accounts Payable                            $1,227,400

To record the estimated appropriations for the year.

Property taxes receivable $915,000

Other revenue receivable $315,000

Estimated revenue                              $1,230,000

Cash Account                  $1,182,500

Property taxes receivable                     $885,000

Other revenue receivable                    $297,500

To record the cash receipts.

Contracts                                  $95,250

Accounts Payable                                      $95,250

To record contracts for services.

Debit General Government  $963,500

Credit Accounts Payable                        $963,500

To record the other expenditures.

Debit Accounts Payable      $1,092,500

Credit Cash Account                              $1,092,500

To record payment on account.

b. Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund:

Estimated Revenue   $1,230,000

less Expenditure:

Contracts                          95,250

Other expenditures       963,500

Change in fund             $171,250

Fund balance b/f           230,250

Fund balance c/f          $401,500

c. Balance Sheet for the General Fund:

Cash                              $183,000

Taxes Receivable           237,000

Total assets                 $420,000

Accounts Payable            $18,750

Fund balance                  401,500

Total liabilities + Fund $420,250

Explanation:

a) Cash Account:

Beginning balance            $93,000

Property taxes                   885,000

Other revenue                  297,500

less Accounts payable   1,092,500

Ending balance               $183,000

b) Taxes Receivable

Beginning balance           $189,500

Estimated Revenue        1,230,000

less Receipts:

Property taxes                  885,000

Other revenue                 297,500

Ending balance             $237,000

c) Accounts Payable

Beginning balance        $52,500

Other expenditure        963,500

Contracts                        95,250

Less payments           1,092,500

Ending balance              $18,750

4 0
3 years ago
Compare transnet with a perfect competitor in terms of price and output and profit
Sholpan [36]
Transnet SOC Ltd is a rail, port, and pipeline company in Johannesburg. 

Price: This company is a price maker, therefore, in terms of price, Transnet perfect compitetor is a price taker.

Output: Transnet has the ability to decide the quantity of their output and they have many competitors on this one.

<span>Profit: Transnet might be able to increase their profit but in a competition it would be hard because customers might switch to the competitor. </span>
5 0
3 years ago
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