The following accounts would appear on a schedule of cost of goods manufactured- Depreciation of factory equipment
Explanation:
<u>The cost of goods manufactured (COGM) schedule</u> is used to calculate the cost of all the items produced during a given reporting period.
<u>The cost of good manufactured schedule</u> gives companies an idea about their production cost(i.e whether it is too high or low) in relation to the sales they are making
<u>The formula to calculate the COGM i</u>s:
Add: Direct Materials Used
Add: Direct Labor Used
Add: Manufacturing Overhead
Add: Beginning Work in Process (WIP) Inventory
Deduct: Ending Work in Process (WIP) Inventory
= COGM
Answer: Machine B
Explanation:
Average rate of return = Average Income / Average Investment
Machine A
= 47,932.64/342,376
= 14%
Machine B
= 85,282.20/284,274
= 30%
Machine C
= 68,037/453,580
= 15%
<em>Machine B has best average rate of return. </em>
Answer:
Option (d) is correct.
Explanation:
Given that,
Customer purchases $340 worth of merchandise from The GAP using a gift card.
A gift card is having an amount of money that is used by the gift card holder for the purpose of purchasing goods. So, in the books of GAP, the value of gift card is debited as an unearned revenue and the sales revenue is credited.
The journal is as follows:
Unearned revenue A/c Dr. $340
To sales revenue A/c $340
(To record the merchandise sold for a gift card)
Answer: In a free-enterprise system,
There are few limits on the use of private property.
Consumers make all of their economic choices.
Producers make all of their economic choices
<h3>a. There are few limits on the use of private property: </h3>
In a free enterprise system the holders of private property are free to buy and sell property. The government doesn't impose restrictions on such transactions.
<h3>b.
Consumers make all of their economic choices. Producers make all of their economic choices.</h3>
In a free enterprise system, the producers set the price they want to charge for their product. Similarly, the consumers decide what they want to pay for the product. Hence the prices of commodities and the quantities supplied are decided by the market forces of demand and supply.
Answer:
15.26%
Explanation:
Let the expected return if economy is normal be X
Expected return ; E(R) = SUM(probability. *return)
E(R) =15.1% OR 0.151 as a decimal
RECESSION: (probability. *return) = -0.08 * 0.02 = -0.0016
NORMAL: (probability. *return) = 0.87 *X = 0.87X
BOOM: (probability. *return) = 0.11 *0.18 = 0.0198
Next, sum the three returns and equate them to 0.151;
-0.0016 + 0.87X + 0.0198 = 0.151
0.87X + 0.0182 = 0.151
Subtract 0.0182 from both sides;
0.87X = 0.151 - 0.0182
0.87X = 0.1328
Divide both sides by 0.87 to solve for X;
X = 0.1526 as a decimal or 15.26%
Therefore, expected return if economy is normal is 15.26%
