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3 years ago

Marginal factor cost (MFC) is

Business

1 answer:

BlackZzzverrR [31]3 years ago

3 0

Answer:

Explanation:

Marginal factor cost (MFC) is the change in total cost as a result of employing one more unit of a factor of production.

Marginal factor cost is determined by dividing the change in total cost by the change in factor of production.

Imagine that total cost is 100 when there are 2 units of labour employed. total cost increases to 200 when 3 units of labour are employed.

the marginal factor cost = $\frac{200 - 100}{3 - 2}$ = 100

Marginal cost is the additional cost generated by producing an additional unit of output.

Marginal factor revenue is the additional revenue generated by employing an additional factor unit.

Average factor cost is total cost from the production of a product divided by the total number of factor units used.

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Cioffi Manufacturing Company incorporates standards in its accounts and identifies variances at the time the manufacturing costs

liubo4ka [24]

Answer: Please see explanation column for answer

Explanation:

A) Journal for enties to record Purchased 2,450 units of copper tubing on account at $52.00 per unit

Materials = 2450units x48.50 = $118,825

Direct materials Quantity Variance=2450x3.50($52-$48.50)= $8,575

Accounts payable = 2450x $52 =$127,400

Account Debit Credit

Materials $118, 825

Direct \materials quantity Variance $8,575

Accounts payable $127,400

b) Journal of Entres to record Used 1,900 units of copper tubing in the process of manufacturing 200 air conditioners. Ten units of copper tubing are required, at standard, to produce one air conditioner.

Work in progress = 200x10x$48.5 = $97,000

Direct \materials quantity Variance (2000-1900 units )x48.5 = $ 4845

Materials= 1900x$48.5 =$92,150

Account Debit Credit

Work in progress $97,000

Direct \materials quantity Variance $4845

Materials `$92,150

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4 years ago

On July 1, 2020, Culver Inc. made two sales. 1. It sold land having a fair value of $902,220 in exchange for a 4-year zero-inter

Rzqust [24]

Answer:

1) July 1, 2020, sale of land

Dr Notes receivable 1,419,656

Cr Land 590,900

Cr Discount on notes receivable 517,436

Cr Gain on sale of land 311,320

Discount on notes receivable $1,419,656 - $902,220 = $517,436

Gain on sale of land $902,220 - $590,900 = $311,320

2) July 1, 2020, service revenue

Dr Notes receivable 402,150

Cr Service revenue 342,218.69

Cr Discount on notes receivable 59,931.31

annual interests = $402,150 x 3% = $12,064.50

discount on notes payable = present value of annual interest = $12,064.50 x 4.9676 (PV annuity factor, 12%, 8 periods) = $59,931.31

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4 years ago

The following amounts were taken from the financial statements of Plant Company: 2012 2011 Total assets $800,000 $1,000,000 Net

adell [148]

Answer: 27 times

Explanation:

Market price of common stock = $67.50

Net income = 150,000

Weighted average number of common shares outstanding = 60,000

Value of each shares = 150,000 / 60,000 = $2.5 per share

The price Earnings ratio will then be:

= market price per share / earnings per share

= $67.50 / $2.50

= 27 times

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3 years ago

A law firm billed a client $1,800 for entries will the firm make to record this transaction? work performed in the current month

Anika [276]

Answer:

E) Debit Accounts Receivable, $1,800; credit Legal Fees Revenue, $1,800

Explanation:

The Journal Entry is as follows :-

Accounts Receivable Dr, $1,800

To Legal fees revenues $1,800

(Being the billing is recorded)

Therefore for passing the journal entry, we debited the Accounts Receivable $1,800 with the credited Legal fees revenues $1,800 so that the proper posting can be done.

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3 years ago

The Appliance Depot realizes that many of its customers purchase several appliances at one time and may not have immediate cash

photoshop1234 [79]

Answer:

<u>Financing </u>

Explanation:

Financing refers to usage of money and funds to finance the marketing agencies and promotions, in addition to financing the movement of goods through different channels of distribution.

Retailers usually use credit schemes to induce customers such as, payment in installments with zero interest payments. Such schemes enhance sales and also build consumer trust.

In the given case, Appliance Depot offers credit services whereby customers are granted convenient payment terms such as no down payment and interest free installments. This represents the marketing function of financing wherein the retailer facilitates financing customer's purchase via such credit schemes.

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3 years ago