Answer:
Correct answer is letter B, $2,200
Explanation:
Using accrual basis method, revenue and expenses will be recognized when incurred.
The $4,800 is a 24 months policy, therefore we must compute the insurance expense applicable for the year covering from February 1 to December 31 (11 months)
An adjusting entry to recognize the expire portion of the insurance must be done at the year end in the amount of $2,200.
($4,800 / 24 months = $200 x 11 months = $2,200)
Answer:
Total product cost= $181,000
Explanation:
<u>The product cost is the sum of the direct material, direct labor, and manufacturing overhead:</u>
Direct materials $ 70,000
Direct labor $ 37,000
Variable manufacturing overhead $ 12,000
Fixed manufacturing overhead $ 25,000
Total manufacturing overhead $ 37,000
Total product cost= $181,000
Before going to the cost and benefits, lets take a look first at the total of what Tim makes for the two jobs. In the first job, he is paid $7 per hour for 3 hours so that is $21 total for the first job. The second job offer is $10 per hour for two hours so that is $20 for the entire second job offer. If he is going to take the first job, he will have $1 more than the second job, however, he has to work an extra hour. However, if he takes the second job, he receives $1 less but has one hour more for himself. So if he were to take the second job, it will be more beneficial to him because he can get almost the same amount but doesn't need to work as hard
The truth about open-end mutual funds is that they <span>are bought or sold at their net asset value.
</span><span>Open-end mutual fund is a type of fund which shares are bought and sold on demand at their net asset value, or NAV, which is based on the value of the fund's underlying securities and is generally calculated at the close of every trading day.</span>
well think about it in a variety of different ways, a free market economy can affect anyone's daily life, that being, in a free market economy a person can make any choice he or she wants with little or no government interference
hope I was able to help ~kashout kam
