Answer:
The question is <em>"Record the transactions on April 1 and April 10. View transaction list Journal entry worksheet Record the sale on April 1."</em>
Date Account Title and Explanation Debit Credit
April 1 Account receivables $7,000
Sales revenue $7,000
April 10. Cash ($7,000*98%) $6,860
Sales discount ($7,000*2%) $140
Account receivables $7,000
Answer:
Increase price.
Explanation:
Price elasticity is the degree of responsiveness of quantity demanded to changes in price. Ideally as price increases quantity demanded reduces. When prices reduce quantity demanded increases.
As a new manager of Rock Record company, if the economics consultants inform you the price elasticity is less than one it means quantity does not change with increase in price.
So price can be increased without a corresponding decrease in price. The goal of higher revenue can be achieved by increasing the product price.
Answer:
Closing inventory = 54,000 units
Explanation:
<em>The difference between profit under variable costing and under absorption costing is simply the value of the change in inventory.</em>
<em>Usually, a decrease in inventory would cause profit under absorption costing to be lower . This is so because cost of goods sold would become higher leading to a lower profit</em>
Difference in profit = POAR × change inventory
POAR- fixed overhead cost per unit- $10,
Difference in profit - $120,000
let the change inventory be y
120,000 = 30 × y
y= 120,000/30
y = 4000 units
Inventory at the end = opening inventory + change inventory
= 50,000 + 4000
= 54,000 units
<em>Note; An increase in inventory will produce a higher profit using absorption costing. Hence, we added the change inventory to the opening inventory, to reflect an increase in inventory</em>
Answer:
A kopeck is a hundredth of a ruble
1 ruble sales = 0.8516 ruble cost
? Sales = 5,632,000 ruble
Sales = 5,632,000 divide 0.8516 = 6,613,434 rubles
