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Facilities, factories, and production lines with very large equipment are all classified as installations.
What is production?
Production is the process of combining different immaterial inputs (plans, knowledge) with material inputs to create something that is intended for consumption (output). It is the process of producing an outcome, a good as well as service that has value and enhances people's utility. Production theory, a branch of economics that focuses on production, is entwined with consumption (or consumer) economic theory. Utilizing the initial inputs productively leads to the production process and the output (or factors of production). Land, labour, as well as capital are regarded as the three primary production factors and are referred to as primary producer products or services. Both the output process and the final product do not significantly change these essential inputs or turn them into integral parts of the final product.
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Answer:
The answer is aging of accounts receivable method.
Explanation:
This method helps accountants in determining how much of a company’s account receivables would not be collected. This is related to unpaid invoices of a company’s customers. Though invoices usually have due dates, according to the company, customers who haven’t paid even after the due date has passed must be calculated using this method for more accurate accounting reporting.
Answer:
Kingbird Company
a. The amount of Net Sales = $5,040.
b. The amount of the estimated liability for refunds = $180
Explanation:
a) Data and Calculations:
Units of products sold to Logan Inc. = 290
Selling price = $18
Sales revenue = $5,220 ($18 * 290)
Cost of each unit = $11
Expected returns = 10/290 = 0.03448
Net sales = $5,220 * (1 - 0.03448)
= $5,040
Estimated liability for refunds = $180 ($5,220 - $5,040)