Answer:
Product costs do not flow from the balance sheet to the income statement.
The correct answer is A.
Explanation:
Product costs flow from the income statement to the balance sheet.
Unlike direct material and direct labour cost, overhead cost must be allocated to products using a suitable basis.
Product costs are expensed in the period incurred in the income statement.
Depreciation on manufacturing equipment is an indirect product cost because it is not directly traceable to a cost unit or cost center.
Answer: Capital Expenditure
Explanation:
Capital Expenditure occurs if the expense made was to enhance the capability of an asset to perform the role for which it was acquired over an extended period of time.
The new motor and tires will go a long way in making sure that the Truck benefits the company over a long period of time and so should be considered CAPITAL EXPENDITURE.
Do comment if you need any further clarification.
Answer:
Direct material price variance =$10,160 unfavorable
Explanation:
<em>Direct material price variance occurs when the actual quantity of materials are purchased at an actual price per unit higher or lower than the standard price.</em>
Direct material price variance $
50,800 pounds should have cost (50,800× $2) = 101,600
but did cost (50,800× $2.20) = <u> 111,760</u>
Direct material price variance <u> 10,160 unfavorable</u>
Direct material price variance =$10,160 unfavorable
Answer: The background information makes a connection with the audience it is being presented for.
Explanation: Often times, a company will give a presentation and include background info on themselves. When background information is included it is used to help make a connection between the audience and the mission of the company. When viewers understand the needs/wants/goals of a company and they align with the person, there is a connection made between both parties.
Small businesses use nonstore retailing methods such as the internet to open new channels of distribution. Hence, Option A is the correct statement.
<h3>What is the meaning of the term nonstore retailing?</h3>
The selling of products and offerings outside the confines of a retail facility is known as Non-store retailing. It is a standard term describing retailing taking vicinity outdoor of shops and stores.
It includes home delivery sales, electronic shopping, and many more.
Hence, Small businesses use nonstore retailing methods such as the internet to open new channels of distribution. Option A is the correct statement.
Learn more about nonstore retailing:
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