Answer:
C. $400,000
Explanation:
The computation of the gross profit is shown below:
Gross profit = Net Sales - costs of goods sold
= $500,000 - $100,000
= $400,000
For determining the gross profit, we deduct the costs of goods sold from the net sales, so that the true value can come. It is shown in the income statement
All other information which is given is not relevant. Hence, ignored it
Answer:
$20 will be recorded as the 2018 expenditure.
Explanation:
In this case, $500 is the remaining in the General Fund for 2017 fiscal year in encumbrances that remained opened into fiscal year 2018.
In 2018, since encumbered goods were received at an invoiced cost of $520, $20 will be recorded as the 2018 expenditure after deducting the carry-forward of 2017 encumbered fund balances of 2017.
First balances carry-forwarded are utilized and then the funds allocated to the General fund for the current fiscal i.e 2018 is utilized. Hence the actual amount that would be recorded as the 2018 expenditure will be $520 - $500 carry forward from 2017 = $20.
Answer:
$ 34
Explanation:
Overhead cost $3,600,000
Factory utilities $820,000
Machine hours $130,000
Overhead cost + Factory utilities/ Machine hours
($3,600,000 + $820,000) = $4,420,000
$4,420,000 /130,000 = $34
direct labor hours per hour= $34
The company overhead rate is $34
Answer:
most circumstances
Explanation:
The priority in the interests those that have companies to present them first or those that have perfected it. This is due to giving it greater agility on the side of presenting it first and having the interests very explicit as soon as possible and on the other hand when they have been perfected giving greater integrity to the interest presented by the company.
The law of demand states that the price and demand have an inverse relationship.
As the price of a product goes up, then fewer people will want to buy the product. For example, Honda sells more cars on average each year than Lexus because more people are able to afford the lower priced Honda. Producers can also use this law to say that as the demand for a product goes up, they will be able to charge more for the product as well.
