I’m 13 but I know some stuff, you should always have a plan for the future and know what business you want to start. Another big thing is to have a friend that has the same business so you can learn from them. You should be social and have contacts.
Answer:
64.17% and 8%
Explanation:
The computation of the percentage is shown below:
For the cost of goods sold, the percentage would be
= (Cost of goods sold ÷ Sales) × 100
= ($77 million ÷ $120 million) × 100
= 64.17%
For the net income, the percentage would be
= (Net income ÷ Sales) × 100
= ($9.6 ÷ $120 million) × 100
= 8%
Simply we put the sales in denominator side and costs of goods sold or net income in numerator side
Answer:
The option (B) Debit Work in Process Inventory $72.000 credit Factory Wages Payable $172,000 is correct
Explanation:
Solution
Given that:
As the cost of labor was sustained as regards to processing the inventory and it was not completed, so debit the work in process of account.
There also exits a liability of paying labor charges for this it will be payable.
Hence credit factory wages payable.
For the other options they are crediting cash which is not yet paid, here the option A and E is wrong.
For option D, they are crediting inventory which in this case is not correct due to the existence of a liability for paying labor fees.
The option D is wrong, because they debited with the cost of sold goods.
The definition of deficit is, A sum of money that is small. Also, this can mean a loss of money. Another definition is, the number of loses in sports. Or, individual. Hope this helps
