Answer:
D
Explanation:
Partnerships often leave the owners liable to damages. As they aren’t difficult to set up in comparison, the answer most likely isn’t A. B also seems unlikely, as partnerships are often on a smaller scale. C doesn’t seem to apply.
The total product cost per unit under absorption costing is: $75.
In absorption costing, the cost of every unit produced is worked out by adding up the direct cost of materials, direct labor, variable overhead, and the fixed overhead. Unlike in the case of marginal costing where the fixed cost is treated as period cost, in absorption costing, fixed cost is treated as a product cost.
The cost per unit
$
Direct material 28
Direct labor 24
Variable overhead 10
Fixed cost 13
Cost per unit 75
Cost of Inventory
Number of units = 1000
Cost per unit = $75
Value = 1000 * $75 = $75,000
Learn more about absorption costing here:brainly.com/question/26276034
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Answer and Explanation:
The journal entries are as follows;
a. On Jan 1
No journal entry is required
b. On Feb 5
Contra asset Dr $1,320
To Sales revenue $1,320
(being sales revenue is recorded)
Cost of goods sold Dr $670
To Inventory $670
(being cost of goods sold is recorded)
c. On Feb 25
Cash $3,300
Contra asset Dr $1,320
To Sales revenue $1,980
(being sales revenue is recorded)
Cost of goods sold Dr $300
To Inventory $300
(being cost of goods sold is recorded)
Answer: The invisible hand
Explanation: Invisible hand can be defined as those unobservable market forces which helps the forces of demand and supply to reach to an equilibrium level.
In the given case, Daniel is giving work to local suppliers and jobs to residents as well as producing demand in the market by its products, thus, we can conclude that the given case is an example of invisible hand.
