Answer: Demand curve and demand schedule
Explanation:
The demand curve is a representation in graph that depicts the relationship that exist between the price of a commodity and its quantity demanded over period of time. Price is on the left vertical axis and the quantity demanded for the good is on the horizontal axis.
The demand curve is downward sloping from left to the right thereby explaining the law of demand that states that price and quantity demanded are inversely related i.e when the price of a good increases, the quantity demanded decreases and vice versa.
A demand schedule is a table that depicts the quantity demanded of commodities or service at different prices over a time period. The demand schedule is usually made up of two columns with the first column listing the price of a commodity and the second column listing the quantity demanded of the product.
<span>The US economy expanded annually 3 percent in the second quarter of 2017, well above a preliminary reading of 2.6 percent and beating market expectations of 2.7 percent. It is the strongest growth rate since the first three months of 2015, the second estimate from the BEA showed. Increases in consumer spending and in nonresidential fixed investment were larger than previously estimated, offsetting a drag from government expenditure and investment.</span>
Answer:
$95,400
Explanation:
The computation of total cost of ending work in progress inventory is shown below:-
Material = 18,000 Units × 100% × $2.75
= $49,500
Labor = 18,000 Units × 60% × $4.25
= $45,900
The total cost assigned to the ending work in process inventory
= Material + Labor
= $49,500 + $45,900
= $95,400
So, for computing the total cost assigned to the ending work in process inventory we simply add material with labor.
Answer:
A.$8,600
Explanation:
The journal entry to record the bad debt expense is shown below:
Bad debt expense A/c Dr $8,600
To Allowance for doubtful debts $8,600
(Being bad debt expense is recorded)
Since the bad debt expense is an expense so the same is recorded in the debit side of the balance sheet while the estimated uncollectible portion reduces the account receivable balance so we credited it
