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navik [9.2K]
3 years ago
7

A student might describe information about the costs of production as

Business
1 answer:
sattari [20]3 years ago
6 0
crucial to understanding firms and market structures
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5 An insured’s house is damaged by a fire and is uninhabitable. As a result, the insured has to rent an apartment until repairs
Nata [24]

Answer:

Coverage E - Additional Living Expense

Explanation:

Based on the scenario being described within the question it can be said that this individual has a Coverage E - Additional Living Expense. This is an insurance coverage that covers the home-owner with compensation when they they are not able to live in their house due to an loss or a claim which is insured. Such as damage due to fire, like in this scenario which made the house uninhabitable.

4 0
3 years ago
The form of business that limits the liability of individuals for the risks involved in business activities is known as _____.
m_a_m_a [10]

Answer:

The correct answer to the following question will be Option A (Corporation).

Explanation:

A Corporation seems to be a separate legal entity and is different from its proprietors. Corporations possess most of individual responsibilities and rights: they can sign contracts, lend and borrow the money, sue and prosecute, hire workers, own properties, and paying taxes. Some call him a "legal person".

A company form that declares the enterprise as a distinct, corporate entity governed by people known as the management board. Perhaps the most beneficial way to begin an enterprise is a corporate structure, as the organization operates as a distinct entity.

Therefore, Option A is the right answer.

3 0
3 years ago
On July 1, 2021, Apache Company, a real estate developer, sold a parcel of land to a construction company for $3,000,000. The bo
atroni [7]

Answer:

Revenue 2021 = $3,000,000

Revenue 2022 = $0

Explanation:

Given that,

Sold a parcel of land to a construction company = $3,000,000

book value of the land on Apache’s books = $1,200,000

In this case, revenue is identified at a point when the parcel of land is transferred to the construction company.

Therefore, full revenue from the sale of land should be recognized in the year 2021 because the transfer of land occured in 2021 and there will be no revenue reflected in the year 2022.

Revenue 2021 = $3,000,000

Revenue 2022 = $0

4 0
3 years ago
1. Visit a Web site for a company that sells products or services online. Then go to that company's corporate Web site. Compare
TiliK225 [7]

https://www.goodyear.com/

https://corporate.goodyear.com/

-Corporate offers a LICENSE PRODUCTS APPLICATION page

-Corporate includes sponsorship information

-Non corp is simplified, less busy website layout

-

6 0
3 years ago
Read 2 more answers
Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, m
vredina [299]

Solution:

Working notes:  

Calculate opening work in process inventory for conversion costs as shown below:  

Opening work in process

inventory for conversion costs  =  1-  \frac{1}{5} = 2/5

= 40 %  

Calculate units started and completed in October as shown below:  

Units started and completed in July = ( Units transferred out — opening work in process inventory  

= 25, 700 units — 2,300 units = 23, 400 units  

Calculate whole ending work in process inventory in October as shown below:  

Opening work in process inventory + Whole ending work in ) = in October process inventory Received from material storeroom — Transferred to packing department  )  

= 2,300 units + 26,000 units — 25, 700 units = 2, 600 units  

Calculate ending work in process inventory for conversion costs as shown below:  

Ending work in process inventory for conversion costs  )  

(Total units for ending work in process inventory x Completed percent for conversion costs = 2, 600 units x 1 = 520 units  )  

Equivalent units for production is calculated by adding units of opening work in process inventory, transferred to finished goods in October, and units for ending work in process inventory. Therefore, an equivalents unit for production for direct materials is 26,000 units and equivalent units for production for conversion costs is 24,840 units.  

Calculate direct materials and conversion cost equivalent cost per unit for October as shown below:  

Direct material cost per unit — Total direct material costs  Equivalent units for direct materials 8429,000  — 26,000 units = $16.50 Per unit  

Conversion cost per unit — Total conversion costs  Eqtuv' aka! units for conversion $149,040 — 24,840 units  

                     = $6  

5 0
3 years ago
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