Answer:
Option A is correct one.
<u>Are more summarised than for lower levels of management</u>
Explanation:
For higher levels of management, responsibility accounting reports<u> are more summarised than for lower levels of management.</u>
It is a summarised report facilitating the higher levels of management in order to keep a track of performance of low level management.
The company incurs costs in receiving, inspecting, identifying, and returning the merchandise. More returns create more expenses.
Is cost of sales an expense?
Cost of Goods Sold is also known as “cost of sales” or its acronym “COGS.” COGS refers to the cost of goods that are either manufactured or purchased and then sold.
COGS counts as a business expense and affects how much profit a company makes on its products.
What are the depreciation expense?
Depreciation expense is that portion of a fixed asset that has been considered consumed in the current period.
This amount is then charged to expense. The intent of this charge is to gradually reduce the carrying amount of fixed assets as their value is consumed over time.
Learn more about this here:
brainly.com/question/26990784
#SPJ4
Fair trade in smaller territories e.g the carribean islands, support customers in the way that the goods are duty free and exporting and importing is cheaper because no fee is needed for the government of either islands. That's how it works here where I live in the eastern Caribbean.
Answer:
e. 225,000 materials; 195,000 conversion.
Explanation:
direct materials
beginning WIP inventory = 0%*50000
= 0
started and completed = 150000*100%
= 150000
ending WIP inventory = 75000*100%
= 75000
equivalent units = 0 + 150000 + 75000
= 225000
conversion
beginning WIP inventory = 50000*60%
= 30000
started and completed = 150000*100%
= 150000
ending WIP inventory = 75000*20%
= 15000
equivalent units = 30000 + 150000 + 15000
= 195000
Therefore, The equivalent units for direct materials and conversion respectively for May is $225,000 and $195,000 respectively.
Answer:
Explanation:
The retained earning are the earnings of the business organization which is earned until the date.
The net income or net loss would reflect in the statement of the retained earning account.
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
The journal entry is shown below:
Retained earnings A/c Dr $3,000
To Dividend A/c $3,000
(Being dividend account is closed)
