Scale is not as important as style when decorating a room<br><br> A. True<br> B. False

What is the difference between the marginal product of labor and the marginal revenue product of labor for a firm in a perfectly

Alik [6]

Answer:

The marginal revenue product of labor is equal to the marginal product of labor multiplied by the product price. The formula is:

MRP = MPL x P

The marginal product of labor is the additional output that can be achieved by adding an additional unit of labor. The marginal revenue product of labor measures the same thing but in money, not units.

4 0

4 years ago

On May 11 Sydney accepts delivery of $20,500 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10,

horrorfan [7]

Answer: Please see explanation for answer

Explanation:

A) Journal entry for Sydney retailing buyer

i)To record purchase of inventory on account

Date Account titles Debit Credit

May 11 Accounts Payable $20,500

Merchandise Inventory $20,500

ii)To record shipping expense paid

Date Account titles Debit Credit

May 11 Merchandise Inventory $ 41

Cash $ 410

iii) To record goods returned to seller

Date Account titles Debit Credit

May 12 Accounts Payable $1,300

Merchandise Inventory $1,300

iv To record payment on account.

Date Account titles Debit Credit

May 20 Accounts Payable $19,200

Merchandise Inventory $576

Cash $18,624

Calculation:

Accounts payable= Purchases− Purchase return

=$20,500−$1,300

=$19,200

Discount=Accounts payable X 3%

=$19,200×0.03

=$576

B) Journal entry for Troy - Seller

i)To record sales of goods on account

Date Account titles Debit Credit

May 11 Accounts receivable $20,500

Sales Revenue $20,500

ii) To record cost of goods sold

Date Account titles Debit Credit

May 11 Cost of goods sold $13,735

Merchandise Inventory $13,735

III) To record sales return

Date Account titles Debit Credit

May 12 Sales returns and allowance $1,300

Account receivable $1,300

iv) To record cost of goods sold reversed for sales return

Date Account titles Debit Credit

May 12 Merchandise Inventory $871

Cost of goods sold $871.

v) To record cash received for goods sold.

Date Account titles Debit Credit

May 20 Cash $19,200

Sales discount $576

Account receivables $18,624

Calculation:

Accounts receivables= sales− sales return

=$20,500−$1,300

=$19,200

Discount=receivables X 3%

=$19,200×0.03

=$576

3 0

3 years ago

Disadvantages of being an ill tempered entrepreneur

SSSSS [86.1K]

Answer:

Pessimists often miss the bigger picture.

Pessimism can devolve all too easily into helplessness or hopelessness.

Pessimism can actually create the very situation you fear and resist.

Pessimism may be bad for your mental and physical health.

Explanation:

Hope this helps you

5 0

3 years ago

Novak corp. sells a snowboard, ezslide, that is popular with snowboard enthusiasts. below is information relating to novak corp.

Rom4ik [11]

Answer:

a. The value of ending Inventory using FIFO is $2749.

b. The value of ending Inventory using LIFO is $2667.

c. The value of ending Inventory using Average Cost method is $2713.

We have:

Date Explanation Units unit cost Total Cost

Sep-01 inv 11 97 1067

Sep-12 purchases 44 100 4400

Sep-19 purchases 47 101 4747

Sep-26 purchases 22 102 2244

Total 124 12458

Novak sold 97 snowboards, so the number of snowboards with it at the end of September is $124 -97 = 27 units$ .

If Novak adopts First In First Out (FIFO) method, and 27 units are remaining, all 22 units purchased on Sept-26th and $27 -22 = 5 units$ from the purchases made on Sept-19th will remain in inventory.

So the value of inventory using FIFO will be $(22* 102) + (5*101) = 2749$

If Novak adopts Last In First Out (LIFO) method, all 11 units in inventory on Sept-01st and $27 -11 = 16 units$ from the purchases made on Sept-12th will remain in inventory.

Hence inventory value using LIFO will be $(11* 97) + (16*100) = 2667$

We calculate the Average cost by dividing the Total Cost by total number of units purchased.

$Average Cost = \frac{12458}{124} = 100.468$

The value of inventory using the average cost method is $100.648 * 27 =2713$ .

3 0

3 years ago

Read 2 more answers

Which of the following is a situational characteristics that influences the choice of leadership style for a supervisor?

pav-90 [236]

Answer:

The correct answer is letter "D": Interest in solving a problem.

Explanation:

Situational leadership is exercised by managers when they need to adapt their method of working to the current situation their companies are facing. The key point is to get to the solution of the problem. Thus, the leader does not wait for the subordinates to adapt to his or her leadership style but is the leader who proactively takes a step towards a change.

3 0

4 years ago

Scale is not as important as style when decorating a room A. True B. False