Answer:
Cost of goods sold will be overstated by $10,000
Net income will be understated by $10,000
Explanation:
The movements in inventory account can be shown as
Opening balance + purchases - cost of goods sold = ending balance
As such, understating the ending balance would result in an overstatement of cost of goods sold. This will in turn result in an understatement of gross and net income.
Answer:
Hello There!!
Explanation:
The steps of agriculture include many things like preparation of soil,adding manure, fertilizers and harvesting.
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Answer:
The answer is: Duncan's materials costs per unit was $1.50 ($6.10 - $4.60) less than Davis's materials costs per unit.
Explanation:
We must first calculate the materials costs for both companies:
- Duncan's total costs was $457,250 minus conversion costs of $279,000 equals total materials costs of $178,250.
-
Davis's total costs was $721,056 minus conversion costs of $381,408 equals total materials costs of $339,648
.
Now we calculate the materials costs per unit produced:
- Duncan's total materials costs $178,250 divided by 38,750 units equals $4.60 per unit.
- Davis's total materials costs $339,648 divided by 55,680 units equals $6.10 per unit.
So Duncan's materials costs per unit was $1.50 ($6.10 - $4.60) less than Davis's materials costs per unit.
.
Your economics training provides you with a terrific set of job skills, and in fact the economics major provides you with virtually all of the top ten most important job skills.
Economics are not restricted to one specific job category. Thus you have a wide variety of employment choices available to you. Because you have both quantitative as well as qualitative skills, however, it is natural to exploit your comparative advantage and find a position that utilizes both sides of your training.
The job market recognizes the special job skills that a major in economics provides. 80% of graduates in economics receive starting salaries in the range of $24,800-42,000 (
Answer:
$10,942.20
Explanation:
The computation of the bond interest expense for the six month is shown below:
= Carrying value of the bond × effective interest rate × number of months ÷ total number of months in a year
= $218,844 × 10% × 6 months ÷ 12 months
= $10,942.20
By multiplying the carrying value of the bond with the effective interest rate and the number of months we can get the bond interest expense and the same is to be considered
