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forsale [732]
2 years ago
6

Sharon was debating whether she should open an account with a savings and loan association or with a credit union. She decided t

hat the savings and loan association was best for her. What could have been a reason that she opted for the savings and loan association?
Business
1 answer:
Yakvenalex [24]2 years ago
8 0
The interest rate might have been higher.
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The first step of the accounting cycle is to
elixir [45]
A. Record journal entries
3 0
3 years ago
If the accountant forgets to adjust the Prepaid Expenses account, there will be:_____
ivann1987 [24]

Answer:

Option B, an overstatement of net income, is the right answer.

Explanation:

Option “B” is correct because when the prepaid expenses occur then it is recorded in the balance sheet on the asset side and the cash will be reduced by the same amount. However, if the prepaid expenses have not been adjusted then it will show the overstatement of net income because cash has been gone so actual cash will be lower than the recoded cash. Thus, option B is right.

7 0
2 years ago
1. What is the incremental manufacturing cost incurred if the company increases production from 29,750 to 29,751 units
Alex

Answer:

$17.90  

Explanation:

The below is missing from the question:

Kubin Company’s relevant range of production is 28,000 to 31,500 units. When it produces and sells 29,750 units, its average costs per unit are as follows:

Amount per Unit

Direct materials  $8.80

Direct labor $5.80

Variable manufacturing overhead $3.30

Fixed manufacturing overhead $ 6.80

Fixed selling expense $ 5.30

Fixed administrative expense $ 4.30

Sales commissions $ 2.80

Variable administrative expense $ 2.30

In order to determine the incremental manufacturing cost by increasing the volume of production from  29,750 to 29,751 units, we simply compute the extra variable cost of producing one extra unit since 29,751 units are still within the relevant range of output, no extra fixed costs would be incurred.

extra cost per unit=direct materials+direct labor+Variable manufacturing overhead

Sales commissions and Variable administrative expense are not included because they are not manufacturing costs

extra cost per unit= $8.80 +$5.80 +$3.30 =$17.90  

8 0
2 years ago
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