Answer:
A decrease in the price of unsliced bread, which people consider a substitute for sliced bread.
Answer:
When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the first year usually is determined by measuring Costs incurred in the first year, divided by estimated total costs for the completed project
Explanation:
The percentage of completion method of revenue recognition is a concept in accounting that refers to a method by which a business recognizes revenue on an ongoing basis depending on the stages of a project’s completion.
In other words, the percentage of completion method is used for longer-term projects and recognizes revenue and expenses as a percentage of the project’s completion during the period.
Answer:
Option (D) is correct.
Explanation:
Dividend in year 12:
= $2.60 × 1.695881
= $4.409292
Price of the stock in 12 years:
= $70.89
Answer:
$18,810 Unfavorable
Explanation:
The computation of the overhead volume variance is shown below:-
Overhead volume variance = Budgeted Overheads - Recovered Overheads
= (20,700 × $4.45 + $54,000) - (20,700 × $6.15)
= $92,115 + $54,000) - (20,700 × $6.15)
= $146,115 - $127,305
= $18,810 Unfavorable
Here, the budgeted overhead is more than recovered overhead so it becomes unfavorable.
If a company changes an accounting principle on the last day of the 3rd quarter they need to apply a retrospective application to all pre-change interim periods reported.
<h3><u>
What is accounting?</u></h3>
- Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process.
- A company's operations, financial condition, and cash flows are summarized in the financial statements that are used in accounting. They provide a succinct summary of financial transactions across an accounting period.
- One of the most important aspects of practically every firm is accounting. Small businesses may have a bookkeeper or accountant manage it, whereas larger corporations may have vast finance departments with many people.
Management can make wise business decisions thanks to the information produced by many streams of accounting, including cost accounting and managerial accounting.
Know more about accounting with the help of the given link:
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