Answer:
d. All of these answer choices are correct.
Explanation:
There are two sections namely debit sections and credit sections. The total of debit and credit sections is always be matched and equaled
The debit sections reports assets and expenses side
whereas, the credit sections reports revenue, stockholder equity, and the liability side.
Moreover, the balances are used to prepare the financial statement i.e income statement, balance sheet, etc
The trail balance is prepared three times i.e non adjusted, adjusted and the post-closing trail balance
Answer:
Since a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.
Answer:
$ 317,000
Explanation:
Octuber Production: 200,000
Variable Overhead: $ 0.80 per unit
Fixed Overhead: $ 157,000
<u>Factory Overhead Budget for Octobe</u>r:
Octuber Production x Variable Overhead = <em>200,000 x 0.80 = 160,000</em>
Variable Overhead: <em>$ 160,000</em>
+
Fixed Overhead: <em> </em><em><u> $ 157,000</u></em><em> </em>
Total Overhead:<em> </em> <em> </em><em>$ 317,000</em><em> ( $ 160,000 + $ 157,000 ) </em>
