Answer:
Orange juice, apple juice, cranberry juice, and lychee juice are all product items of Elsem Foods.
Explanation:
A product item is a specific type or variety of product that is different than other products that a company sells.
In this case orange, apple, cranberry and lychee juices are all product items which are part of the tropical fruit juices product line of Elsem Foods.
Elsem's product mix would include chips, cupcakes, candies, crackers, fruit juices, and carbonated drinks (all the product lines that Elsem sells).
Answer: Costs of items used up this period but paid for next period
Explanation:
Period Expenses for the period are transactions that should be expensed because they were used in the current period.
Therefore if a period cost is not used in the period, it is not considered a period cost even if the company pays for it in the current period which also means that if a period cost for the period is not paid in the current period but in the next one, it is still a period cost for the current period.
From the above therefore, the period cost is the cost of items used up in this period but paid for in the next one.
The land purchased might look like the obvious choice but it is not because Assets are capitalised and not expensed.
Answer:
The correct answer would be A, Find out what your competitors are doing.
Explanation:
A meetup group in an area is a meet and greet event where people of the area meet with each other. New people make acquaintances with each other and come to know about each other. Already known people share their latest happenings. It is a casual form of meeting where people may know about what their competitors are doing at the moment in their business. This may help you in drawing your upcoming strategies in the market. This is the best way to get to know about the competitors.
Answer:
$425
Explanation:
Data provided as per the question
Direct material = $350
Direct labor = $75
The computation of transfer price should be set is shown below:-
Transfer price should be = Direct materials + Direct labor
= $350 + $75
= $425
Note :- The minimum transfer price shall be "Variable Rate" if there is an excess capacity to produce for internal transfer.
Answer:
Explanation:
1. Fixed Costs = 160,000
Pretax income = 164,000
Total contribution desired = 324,000 [160,000+164,000]
CM Ratio = 0.25
Sales = 324,000/0.25 = 1,296,000
2. Variable costs = Sales - Fixed costs - Pretax income = 1,296,000 - 160,000 - 164,000 = 972,000
So Total Sales amount to $1,296,000 and Variable cost is $972,000
