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3 years ago

Write 3-5 sentences that explain what Demand is. Why do you think it is important?

1 answer:

7 0

While an increased supply may satiate available demand at a set price, prices may fall if supply continues to grow. But if supply decreases, prices may increase. Supply and demand have an important relationship because together they determine the prices of most goods and services.

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upine Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. Th

Fed [463]

Answer:

Total overhead applied = $220

Explanation:

Total variable overhead estimated = Variable manufacturing overhead per machine-hour * Total machine-hours

Total variable overhead estimated = ($2 * 32,700)

= $65,400

Total overhead estimated = Total variable overhead estimated + Total fixed overhead estimated

Total overhead estimated = $65,400 + $294,300

Total overhead estimated = $359,700

Predetermined overhead rate = Total overhead estimated / Total machine hours

= $359,700 / 32,700

=$ 11 per machine hour

Hence, the total overhead applied = Predetermined overhead rate * Total machine hours L716

Total overhead applied = ($11 * 20)

Total overhead applied = $220

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3 years ago

Greenco, a u.s. corporation, earns $25 million of taxable income from u.s. sources and $10 million of taxable income from foreig

enot [183]

Taxable income is the sum of income used to compute a person's or a business's income tax due. Taxable income comprises salaries, pays, bonuses and tips, on top of investment revenue and unearned revenue. In this case, the corporation have $25 million that came from US Sources then the additional $10 million is also part of the taxable income because it is part of the normal course of the business. Therefore, GreenCo must report $35 million.

8 0

3 years ago

When using modified accrual accounting, revenues should be recognized when measurable and available to finance expenditures of t

Tanzania [10]

Answer:

False.

Explanation:

The revenue recognition principle states that revenue should be recognized and recorded when it is realized or realizable and when it is earned. In other words, companies shouldn’t wait until revenue is actually collected to record it in their books.

Revenue should be recorded when the business has earned the revenue even it has not been paid by customers to finance expenditures

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4 years ago

Customers at Carat, a premium jewelry store, are encouraged to make an appointment before a visit so that a customer service rep

babymother [125]

Answer: Full service retailer

Explanation: In a full service retailing a business organization makes use of fully trained personnel to actively attend to each customer demands. These sales representative answers questions about the product while outlining benefits of purchasing the product to the purchaser.

The carat organization is actively using the full service retailing method. Where each customer is actively attended to and appropriate explanation on the product is given

6 0

4 years ago

During its most recent fiscal year, Raphael Enterprises sold 270,000 electric screwdrivers at a price of $17.10 each. Fixed cost

pantera1 [17]

Answer:

$2,889,000

Explanation:

Sales units = 270,000 units

Sale Price = $17.10

Fixed cost = $729,000

Sales Value = 270,000 * $17.10

Sales Value = $4,617,000

Contribution Margin = Sales- Fixed cost

Contribution Margin = $4,617,000 - $729,000

Contribution Margin = $3,888,000

Variable Cost = Contribution margin- Pretax income

Variable Cost = $3,888,000 - $999,000

Variable Cost = $2,889,000

So, $2,889,000 is the amount that should have been reported as variable costs in the company's contribution margin income statement for the year in question.

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3 years ago