The answer to your question is TRUE
OBS items is a term for assets or liabilities that do not appear on a company’s balance sheet. All though it’s not recorded on the balance sheet. Hope this helps!
Answer:
Actual authority
Explanation:
<u>Actual authority</u> arises either when the parties in an agency relationship expressly agree to create the relationship or when the authority is implied based on custom or course of past dealings.
Actual authority is refered as specific power that is conferred or granted by a principal to an agent or subordinate as an act of empowerment, which help agent to perform certain task on behalf of principal.
Actual authority have sub types:
- Express authority.
- Implied authority.
<span>This is an application of psychology pricing. Consumers tend to perceive odd prices as lower than they are. This causes people to round down instead of up to the next monetary unit.</span>
For Drake Corporation Average Cost per Unit of Direct materials $6.70 Direct labor $3.10 Variable manufacturing overhead $1.75. One more unit will cost $11.55 ($6.70+3.10+1.75).
The total amount of product costs incurred to make 4,800 units will be calculated as:
Direct materials = 4800 x 6.70 = 32,160
Add: Direct labor= 4800 x 3.10 = 14880
Add: Variable manufacturing overhead = 4800 x 1.75 = 8400
Therefore, the Total product cost will be:
= 32160+ 14880 + 8400
= $55,440
Total product cost for 4800 units will be = $55,440
Average costs per unit units will be = $55,440/4800
=$11.55
Learn more about Average Cost here:
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