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OLga [1]
3 years ago
14

Revenues, Expenses, and Cost of Goods Sold are closed to which of the following accounts:_________

Business
1 answer:
iren2701 [21]3 years ago
6 0

Answer: A) Income Summary

Explanation:

The Income Summary account is used to compile temporary accounts before posting them to capital accounts. Revenues, Expenses and Cost of Goods are temporary accounts which will be compiled in the Income summary account.

The Income summary account has a debit and a credit side with income going on the credit side and expenses going on the debit side. If the credit side is higher than the debit side then profits have been made. The reverse is true.

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Self-directed teams will generally ______.
NARA [144]

A self-directed work team (SDWT) is a group of people who are responsible for an entire business operation. There us generally very little input from a manager or supervisor.

Self-directed teams will generally not report to a manager.  Correct answer: D

These teams are empowered to make the decisions needed to manage themselves on a day-to-day basis

4 0
3 years ago
Read 2 more answers
Pharrell, Inc., has sales of $602,000, costs of $256,000, depreciation expense of $62,500, interest expense of $29,500, and a ta
hjlf

Answer:

The earnings per share figure is $1.89

Explanation:

Sales of $602,000

Costs of $256,000

Depreciation expense of $62,500

Interest expense of $29,500

Tax rate of 40 percent.

-> Profit Before Tax  = Sales - Cost - Depreciation Expense - Interest expense

= $602,000 - $256,000 - $62,500 - $29,500

= $254,000

Net profit = Profit before Tax x (1 - Tax rate) = $254,000 * (1 - 40%) = $152,400

Earnings per share = (net profit - dividend paid for preferred stock)/ common stock outstanding = ($152,400-$44,500)/ 57,000

= $1.89

7 0
3 years ago
Weisman, Inc. uses activity-based costing as the basis for information to set prices for its six lines of seasonal coats.
Airida [17]

Answer:

Results are below.

Explanation:

<u>To calculate the activities rate, we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Designing= 444,000/13,000= $34.15 per designer hour

Sizing and cutting= 4,210,000 / 169,000= $24.91 per machine hour

Stitching and trimming= 1,490,000 / 75,500= $19.73 per labor hour

Wrapping and packing= 332,000 / 32,000= $10.38 per finished unit

6 0
3 years ago
Why did a division of labor occur when people started to produce a surplus of food
Aneli [31]
Simple answer is efficiency.

More output can be produced if labour specialised and focused on a particular activity.

One due to the time saved from switching tasks and secondly getting better (and faster) at what they do.

This leads to two outcomes.
1. Lower average costs of production
2. Greater output.
7 0
3 years ago
March 1, 2017, Alpha Company's beginning work in process inventory had 8,000 units. This is its only production department. Begi
Nikolay [14]

Answer:see attached file

Explanation:

4 0
4 years ago
Read 2 more answers
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