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Answer:
A security
Explanation:
A security is defined as an item that holds financial value and represents ownership of a property by the holder. It is used as a means of gaining some financial assistance.
The security acts something a creditor can use to get back their money in case the debtor fails to pay up.
In this case Pro-Racket takes the bill of lading to the local bank and uses it to obtain funds to hold the company over until final payment is received from the foreign distributor.
The Bill of lading here has been used as a security to obtain a loan from the bank
Answer:
Option D 10,386
Explanation:
The contribution is the amount left from sales after paying the variable cost. In this case we are given with this value so we don't have to calcualte for it.
To get for the contribution margin we will consider the actual values over the budget.
3,800 Calmine pounds x 2 dollar of contribution per pound = 7,600
3,980 Capity pounds x 0.70 dollars per pound = 2,786
<u>Total:</u> 7,600 + 2,786 = 10,386
The Pocatello Pokeys have just hired a new team manager. The contract requires $24,600,000 to be paid to the manager after she completes 8 years of service. the amount team set aside each year is mathematically given as
A = 1,953,944.9
<h3>How much must the team set aside each year?</h3>
Generally, the equation for the team set aside money is mathematically given as
A=Contract amount/ Miselennous
Therefore
A = 1,953,944.9
In conclusion, the amount the team set aside each year
A = 1,953,944.9
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Answer:
Refer To The attached screen shot. It contains the Income Statement Prepared under Absorption Costing.
Explanation:
Absorption Costing assumes that the Manufacturing Costs include Direct Material, Direct Labor, Variable Overhead, and Fixed Overhead. Whereas, Selling and Administrative Expenses are classified as period Costs. These period costs are recognized in the period in which they are incurred. On the other hand, the manufacturing costs are recognized when the goods on which the costs were incurred are sold. That's why we don't recognize $78,000 as a Fixed Overhead because these overhead costs were incurred to produce 6,000 rackets. We have to calculate the fixed overhead cost per unit and multiply it with the units sold.
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