Yes you are correct the cost pool is the people cost object is the product
Answer:
Explanation:
The journal entries are shown below:
a. Cash A/c Dr $15,000
To Games revenue A/c $15,000
(Being cash collected)
b. Cash A/c Dr $3,000
Accounts receivable A/c Dr $5,000
To Sales revenue $8,000
(Being cash received for selling of equipment)
c. Cash A/c Dr $4,000
To Account receivable $4,000
(Being cash received for merchandise sold by the company)
d. Cash A/c Dr $2,500
To Unearned revenue A/c $2,500
(Being deposit received for the upcoming fall season)
This is a False Statement.
Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.
Specifically, management accounting aims to
- provide Information for internal Organisation managers
- providing details to governmental regulating bodies
- Information for shareholders, the accounts payable department, and other parties outside the company
- information to shareholders, accounts payables, and other parties outside the company, as well as information to management inside the firm.
To Learn more about Management Accounting, Click the links.
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Answer:
$133,000
Explanation:
We can find Pete's total contribution to GDP by adding up the following numbers:
$87,000 worth of pizzas - because finished goods are part of GDP
$39,000 paid to employees - because wages are part of GDP
$5,000 paid in taxes - taxes are part of GDP because they are government revenue
$2,000 of inventories at the end of year - end-of-year inventories are included in GDP
Therefore: $87,000 + $39,000 + $5,000 + $2,000 = $133,000
the $11,000 worth of ingredients are not included in GDP because GDP only accounts for finished goods and services.
Answer:
Radar's additional income for accepting the order is calculated as follows:
Sales - 320 x $460 = $147,200
less Cost of Sales = 320 x $180 + $48,000 = $105,600
Additional Income = $41,600
Explanation:
The additional income of $41,600 is $147,200 - $105,600, which is the result of deducting cost of sales from Sales.
The cost of sales includes the variable cost per bike, including the incremental fixed costs ($48,000) to make this order.
To make a decision whether to accept an order or not, the company needs to consider all variable costs, including the incremental fixed costs. The resulting additional income is what is available to offset the fixed costs.
