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2 years ago

ABC Limited manufactures high quality copper pots and pans.

Business

1 answer:

Anton [14]2 years ago

8 0

Answer:

ABC Limited

The role of the management accountant in setting the price of a new product is to gather sufficient information especially cost data and competitor's prices. The management accountant ensures that accurate computations are made to enable a proper price to be set.

Explanation:

a) Data and Calculations:

Variable Costs:

Manufacturing $75,000

Sales Commission $15,000

Total Variable Cost $90,000

Fixed Cost

Allocated Manufacturing $25,000

Total Fixed Cost $25,000

Total Cost $115,000

Units of production = 10,000

Unit cost = $11.50

Management decided that the required markup is 40%

Selling price = $16.10 ($11.50 * 1.4)

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Which of the following statements regarding a monopolist is false? A. The marginal revenue cure lies below the demand curve for

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Answer:

C. The monoplist sets price equal to marginal cost to maximize profit.

Explanation:

To maximise the profit, monopolist charge price where MR = MC.

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3 years ago

The board of directors authorizes a cash or distribution of cash to its investors.a. Trueb. False

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This assertion is accurate. A cash dividend or other cash payment to investors is approved by the board of directors.

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<h3>Dividends have been announced by the board of directors.</h3>

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1 year ago

If an economy has just suffered a serious recession but real gdp is expanding once again, we can conclude the unemployment rate

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3 years ago

At the beginning of July, CD City has a balance in inventory of $2,850. The following transactions occur during the month of Jul

myrzilka [38]

Answer:

Inventory 1750 debit

Accounts Payable 1,750 credit

--to record purchase--

Inventory 120 debit

Cash 120 credit

--to record payment of freights--

Accounts Payable 400 debit

Inventory 400 credit

--to record returned goods--

Accounts Payable 1350 debit

Inventory 27 credit

Cash 1323 credit

--to record payment within discount--

Accounts Receivables 4700 debit

Sales Revenues 4700 credit

--to record sale--

COGS 2450 debit

Inventory 2450 credit

--to record COGS of the previous sale--

Cash 4700 debit

Accounts Receivables 4700 credit

--to record collection in full amount--

Inventory 2550 debit

Accounts Payable 2550 credit

--to record purchase--

Accounts Receivables 3650 debit

Sales Revenues 3650 credit

--to record sale--

COGS 1950 debit

Inventory 1950 credit

--to record COGS of the previous sale--

Accounts Payable 190 debit

Inventory 190 credit

--to record returned goods--

Accounts Payable 2360 debit

Inventory 47.2 credit

Cash 2312.8 credit

--to record payment within discount--

Explanation:

We reocrd each entry assuming the basic accounting principles

debit = credit

<u>first purchase balance:</u>

1,750 less 400 return = 1,350

discount 1,350 x 2% = 27

cash outlay 1,350 - 27 = 1,323

<u>second purchase balance:</u>

2,550 less 190= 2,360 balance

discount 2,360 x 2% discount = 47.20

cash outlay 2,360 - 47.20 = 2312.8

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3 years ago

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Answer: Surplus

Explanation:

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3 years ago