Answer:
The options are not correct:
Dr costs of good sold $15,800
Cr inventory $15,800
Explanation:
The 4,400 units sold consist of the 2,400 units purchased on 1 January at $4.00 per unit and the balance of 2,000 units from the purchase made on January 12 at $3.10 per unit
cost of goods sold=(2,400*$4)+(2,000*$3.10)=$15,800
The cost of goods sold is $15,800 ,neither is it $11,900 nor $11,800
The appropriate entries is to debit costs of good sold with $15,800 while merchandise inventory is credited with $15,800
Answer:
The correct answer is D
Explanation:
Arrangement of manufacturing or processing-plant is the one which defines the relationship where the franchisor transmits or shifts to the franchisee for the essential ingredients or for the specifications in order to make the specific product. And then the franchisee will market at the retail or wholesale level as per the standards of the franchisor.
So, in this situation, the franchisor supplies the essential ingredients of the franchisee for his store and then the franchisee sold to customers the ice cream. Therefore, this relationship is regarded as manufacturing or processing-plant arrangement.
Answer:
A.1830
B.$1397.75
Explanation:
A.Gross pay
Formula for Gross pay
Gross pay = regular pay + overtime pay
= (40*30)+(14*30*1.5)
=1200+630
= $1830
Part B
B.Net pay
Formula for Net pay
Net pay = gross pay – social security tax – medicare tax – federal income tax
= 1830-(1830*6.0%)-(1830*1.5%)-295
=1830-109.8-27.45-295
= $1397.75
Answer and Explanation:
According to the scenario, computation of the given data are as follow:-
Total Sales = No. of Subscription Sold × Advance Price of Subscription
= 500 × $60 = $30,000
August Month Received Amount = (No. of Subscriber × Paid Amount) ÷ (1÷12
)
=(350×$60)÷1÷12
= $21,000 ÷ 12
= $1,750
Balance Sheet
Particular Assets($) Liabilities($) Stockholder Equity($) Income($)
Cash 36,000
Unearned revenue 36,000
Earned revenue -1,800 -1,800
Total 36,000 34,200 -1,800
Income Statement
Income Amount ($) Expense ($) Amount ($)
Earned Revenue -1,800
Answer:
The answer is: C) 2.5 and producers are very responsive to the price change.
Explanation:
The price elasticity of supply refers to what percentage does the quantity supplied change when the price of the good changes in 1%. It is calculated using the following formula:
- price elasticity = % change in quantity supplied / % change in price
Price elasticity of supply of tablets = 20% / 8% = 2.5
For every 1% that the price increases, the quantity supplied will increase by 2.5%.
Since PES > 1, the supply is very price elastic.