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3 years ago

What is another way of referring to workers and factory owners?

1 answer:

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<span>Workers in factories make things for the factory owners. They are usually lower skilled and lower paid and work different shifts throughout the day, not only your usual 8-5. Whatever the factory owner says to do, the factory worker is at their beck and call and must perform the tasks they ask of them.</span>

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Which accounting principle is adopted to make adjustments to the trial balance so that the debit and the credit side balances? T

antiseptic1488 [7]

Answer:

The accrual principle

The main purpose of adjusting entries is to update the accounts to conform with the accrual concept. At the end of the accounting period, some income and expenses may have not been recorded, taken up or updated; hence, there is a need to update the accounts.

8 0

3 years ago

Read 2 more answers

Roberts Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that

Romashka-Z-Leto [24]

Answer:

August 1, sold goods on account terms 3/10, n/30

Dr Account receivable 5,000

Cr Sales revenue 5,000

Dr Cost of goods sold 3,000

Cr Merchandise inventory 3,000

Dr Accounts receivable (freight) 320

Cr Cash 320

When FOB shipping point is used, buyer pays the freight. When FOB destination is used, the seller pays the freight.

August 7, damaged merchandise returned

Dr Sales returns and allowances 1,200

Cr Accounts receivable 1,200

Dr Merchandise inventory 720 (approximately 60% since $3,000/$5,000)

Cr Cost of goods sold 720

August 11, invoice and freight charges collected

Dr Cash 4,006

Dr Sales discounts 114 (3% of $3,800)

Cr Accounts receivable 4,120 ($3,800 for the merchandise and $320 for the prepaid freight)

8 0

3 years ago

At which stage of the product life cycle is product strategy likely to focus on improved cost control

oksano4ka [1.4K]

Answer:

Maturity

Explanation:

8 0

3 years ago

What would a risk be based on the following information: Marty is 60 percent certain that he can get the facility needed for $45

snow_lady [41]

Answer:

Marty is 60 percent sure that he can save the project the amount of $7,000 which means that the amount of $4,200 will tend to depict the 60 percent certainty Amount of the savings

Explanation:

What would the risk be based on the information given in a situation where he is 60 percent sure that he can get the facility needed for the amounts of $45,000 in which the amount is lower that the amount of $7000 that was planned for is that Marty is 60 percent sure that he can save the project the amount of $7,000 which means that the amount of $4,200 which is simply calculated as (60%*$7,000) will tend to depict the 60 percent certainty Amount of the savings.

5 0

3 years ago

Trez Company began operations this year. During this first year, the company produced 100,000 units and sold 80,000 units. The a

hjlf

Answer:

<u>Income statement for the company under variable costing</u>

Sales (80,000 units x $45) $3,600,000

Less Cost of Sales

Beginning inventory $0

Cost of goods manufactured (100,000 units x $19) $1,900,000

Cost of good available for sale $1,900,000

Less Ending inventory (20,000 x $19) ($380,000) ($1,520,000)

Contribution $2,080,000

Less Period Costs

Fixed Manufacturing Overhead ($600,000)

Selling and administrative expenses - Fixed ($400,000)

Selling and administrative expenses - Variable ($180,000)

Net Income / (loss) $900,000

Explanation:

Under Variable Costing.

1.Product cost = Variable Manufacturing Costs Only

Therefore, Product cost = $4 + $11 + $ 4

= $19

2.Period Cost = Fixed Manufacturing Overheads + Non - Manufacturing Costs

5 0

3 years ago