Payroll records show employee earnings and any deductions from those earnings. True False

Companies using target costing ________. start with an ideal selling price and then target costs that will ensure that the price

Anika [276]

Companies using target costing start with an ideal selling price and then target costs that will ensure that the price is met.

Companies use this approach to make sure they are setting a projects price point at appropriately. They want to make sure it meets the standards the price point is set at by quality and functionality of the product being worth the money a customer will spend for it. They are able to design their profit margin and build the target costs and revenue around that.

8 0

3 years ago

The selling concept is typically practiced with ________.A) industrial productsB) unsought goodsC) specialty productsD) convenie

zvonat [6]

Answer:

B) unsought goods

Explanation:

The selling concept -

The concept of selling tells that the consumers will not buy enough any product of any firm unless and until it undergoes some large - scale selling and promotional efforts .

This concept is used for unsought goods , the goods those which the buyers do not normally think of buying , example insurance .

7 0

3 years ago

Scrimshander, Inc. is a shipping company, transporting goods using cargo ships. On January 1, 2017, the company purchases and pu

Alex17521 [72]

Answer:

Scrimshander, Inc.

a) Annual depreciation expense = $360,000

b) Net book value of the cargo ship as of December 31, 2019 = $9,280,000

c) Net book value of the cargo ship as of December 31, 2041 = $1,360,000

d) Depreciation expense for 2042 = $360,000

Explanation:

a) Data and Calculations:

Purchase price of a cargo ship = $10,000,000

Expected useful life of the ship = 25 years

Salvage value = $1,000,000

Depreciable amount = $9,000,000 ($10,000,000 - $1,000,000)

Annual depreciation expense = $360,000 ($9,000,000/25)

Net book value as of December 31, 2019 = $9,280,000 ($10,000,000 - $720,000)

Accumulated depreciation = $720,000 ($360,000 * 2)

Net book value as of December 31, 2041 = $1,360,000 ($10,000,000 - 8,640,000)

Accumulated depreciation = $8,640,000 ($360,000 * 24)

7 0

3 years ago

Fast Co. produces its product through two processing departments. Direct materials are added at the start of production in the C

enyata [817]

Answer

1. Answer for part one and two are added in attachment.

Explanation:

1. For part one , process summary cost is attached in files.

2. Answer for section two is :

Date Title of accounts Total Debit ($) Total Credit ($)

31-Oct Work In Process Inventory - Assembly 1,143,100.00

Work In Process Inventory - Cutting 1,143,100.00

Download xlsx

xlsx

docx

7 0

3 years ago

In which of the following market structures is a firm the single buyer of labor in its related market? Monopoly Perfect competit

castortr0y [4]

Answer:

MONOPSONY

Explanation:

Monopsony is a labour market form where a firm is a singe buyer of a kind of labour services. Eg : Primary or only supplier of a kind of job in an area. These are at a priviliged position - wage setting power, more bargaining power with labourers (for wages , employment terms & conditions).

Monopoly is a commodity market structure where firm is the only seller of that good/service, with no close substitutes. Eg - Indian Railways. Perfect Competition is a also a commodity market structure with many buyers & sellers selling homogeneous products at uniform prices.

4 0

3 years ago