Since there is a cost involved in allocating the specific material and labor to the product, job order cost systems are sometimes more expensive to operate than a straightforward process costing system.
<h3>
What is job order costing?</h3>
Job order costing is a costing approach used to calculate the cost of producing each product. This pricing approach is typically used when a company creates a number of items that are distinct from one another and wants to assess the cost of performing a single operation. Direct labor, direct supplies, and manufacturing overhead are all included in task pricing.
Job order costing can be used to determine if a job is profitable. Efficient task order costing enables businesses to generate bids that are competitive while being profitable.
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To display his present use of capital statements, the farmer will create simple financial accounts.
<h3>What exactly are financial statements?</h3>
Financial statements are official records of a person, business, or other entity's financial situation and actions. The presentation of pertinent financial data is organized and presented in an understandable style.
- The balance sheet,
- income statement, and
- cash flow statements
all provide distinct facts with associated data. The three statements are taken as a whole to offer a complete picture of the company's operational activity.
Thus,
Framer will make basic financial statements to showcase his assets and capital
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Answer:
65 firms will be in the industry at the new long run equilibrium
Explanation:
in the long run the P=ATC
quantity before the change is
200 = 1000-4Q
4Q = 800
Q= 200
each firm output = Q/number of firms = 200 / 50
q = 4
new quantity is
200 = 1240-4Q
4Q = 1040
Q = 260
number of firms=new Q/q
=260/4 = 65
the number of firms is 65 in the long run.
Answer:<u> Selling Price = $9803.92</u>
Explanation:
Given:
Treasury bill will provide 2% return in every 6 months.
Time = 6 months
Rate of return = 2% per 6 months
Selling Price of Treasury bill =
Selling Price =
<u><em>Hence price we would expect a 6-month maturity Treasury bill to sell for is $9803.92</em></u>