Answer:
Option (b) is correct.
Explanation:
There are three types of price discrimination:
(i) First degree price discrimination or Perfect price discrimination
(ii) Second degree price discrimination
(iii) Third degree price discrimination
Perfect price discrimination refers to a situation in which the selling price of the product is equal to the price that a consumer willingness to pay for the product. This is a situation in which there is no consumer surplus.
Consumer surplus = Actual price paid by the consumer - Willingness to pay for the product
Answer:
$24,000
Explanation:
Cash from credit sales is collected with passage of time. Some amount is collected with the sale and some after the sale period. The cash collection for the current month may include the collection against the prior periods sales.
Cash Collection Schedule is prepared in an MS Excel File which is attached with this answer, Please find it.
Answer:
1. $5000 unfavorable
2. 3000 hrs favorable
Explanation:
Fixed Overhead spending variance
Budgeted fixed overhead - Actual fixed overhead
$300,000 - $305,000
= $5,000 unfavorable
Fixed Overhead volume variance
Actual volume = actual fixed overhead / Actual fixed overhead per hr
= $305,000 / $5
= 61000 hrs
(Budgeted volume - Actual volume) * budgeted rate
64000 hrs - 61000 hrs
= 3000 hrs favorable
<span>Answer : Chart of accounts
Explanation:
A chart of accounts (COA) is a created list of the accounts used by an organization to define each class of items for which money or the equivalent is spent or received. It is used to organize the finances of the entity and to segregate expenditures, revenue, assets and liabilities in order to give interested parties a better understanding of the financial health of the entity.</span>
