Answer:
C : debit to Service Charge Expense of $20
Explanation:
The complete journal entry used to record this transaction would be:
March 17, 202x, sales revenue
Dr Cash 980 (assuming the transaction is processed automatically)
Dr Service charge (or Credit card) expense 20
Cr Sales revenue 1,000
Since the credit card company is charging you a 2% commission ($20), we must consider it an expense. Remember that all expenses must be debited.
Answer: C. $950
Explanation:
Hello.
Your question was missing a few details so I threw them in. You'll find it in attachments.
To calculate the total Manufacturing costs for Job 201 we would need to calculate the overhead cost allocation rate first to find out how much Overhead to allocate to Job 201.
Using a normal costing system with direct labour cost as the allocation base,
Overhead allocation rate = (Overheads/Direct Labor Cost)*100
= (100,000/50,000)*100
=200%
Overhead allocation rate is 200% or 2x direct labor cost.
Now to calculate the total Manufacturing costs of Job 201,
Total manufacturing cost for Job 201 = Direct Material + Direct Labor + Manufacturing Overheads
= 350 + 200 + (200*2 for manufacturing overhead)
= 350 + 200 + 400
= $950
$950 is the total manufacturing cost for Job 201 making option C correct.
Answer:
B. Defensive Strategy
Explanation:
One thing that is inevitable in business is competition. Dexter decided to use a defensive strategy for his business with his retirement coming in and competition becoming even stronger.
Defensive strategies are management techniques used to "fend off attacks" from competitors. It helps the decision maker hold on to shares of the market. Some companies do this to lower the risk of being attacked when they perceive attacks coming from competitors so in turn, those competitors can focus on other competitors in the market.
Answer:
<em>Fully amortizing payment</em>
Explanation:
Fully amortizing payment<em> corresponds to a regular loan payment whereby, when payments are made by the borrower in accordance with the amortization schedule of the loan, the loan will be fully paid off by the end of its term. </em>
When the loan is a set-rate loan, the same dollar amount for each fully amortizing fee.
Answer:
<u>Allocative efficiency </u>
Explanation:
Marginal benefit refers to the extra satisfaction derived from purchase of an extra unit of a good or a service.
Marginal cost refers to the extra cost incurred when an additional unit of a good or a service is produced.
When marginal cost is equal to the marginal benefit, it is the most efficient situation wherein optimal blend of commodities is produced.
Allocative efficiency refers to producers providing that blend of goods which are most desired by the society at the optimal level of production.
