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3 years ago

Does the business able to make the most out of the fixed asset?

1 answer:

7 0

Answer: Fixed assets are long-term items that add value to your business. They are tangible assets that you do not expect to convert into cash in less ... asset because you want to convert it into cash as fast as possible. ... You must keep up with maintenance schedules to get the longest life out of your fixed assets.

Explanation: PLEASE GIVE BRAINLIST

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Use the appropriate command on a graphing utility to find the daily production level (to the nearest integer) at which the avera

Amanda [17]

Answer:

39: $182.46

Explanation:

In this problem, the daily production level at the lowest average cost per player and the average cost (in $) can be estimated by considering the graph (average cost (y) against production level (x)) in the previous question. By drawing the graph up to scale, it can be deduced from the graph that the lowest average cost is approximately $182.46 and the production level at that point is 39.

4 0

3 years ago

Read 2 more answers

Pattison Corporation is a service company that measures its output by the number of customers served. The company has provided t

allsm [11]

Answer:

Pattison Corporation

Activity Variance for "Travel expenses" for May would have been closest to:

$1,500 Favorable

Explanation:

Data and Calculations:

Fixed Element Variable Element per

per Month Customer Served

Revenue $5,500

Employee salaries

and wages $46,300 $1,000

Travel expenses $ 500

Other expenses $32,500

The Travel Expenses Activity Variance = Actual cost minus budgeted cost

= $8,500 - $10,000

= $1,500 Favorable

Actual travel expenses = ($500 x 17)

= $8,500

Budgeted travel expenses = ($500 x 20)

= $10,000

Pattison Corporation's activity variance for Travel Expenses for the month of May is the difference between the actual travel expenses and the budgeted travel expenses. The budgeted expenses are based on budgeted number of customers served in May while the actual expenses are based on actual number of customers served in May.

6 0

3 years ago

Which of the following is not true concerning account titles:multiple choiceThere is a wide range of account titles among differ

astra-53 [7]

Answer:

There is a wide range of account titles among different types of companies

Explanation:

An account title can be regarded as a

unique name that is been assigned or associated to particular account in an accounting system. It is very crucial to use An account title when there is a need for identification of accounts by

accounting staff , this is because the title usually conveys the purpose of that particular account. Some of the account titles that can be used are;

Cash on Hand, Petty Cash Fund, and

Cash in Bank,. In account titles;

✓All companies use exactly the same account titles.

✓There is a small range in account titles regardless of type of company.

✓All companies use different account titles.

5 0

3 years ago

There is significant interaction between cash receipt transactions and accounts receivable because _______. a misstatement of ca

zlopas [31]

Answer:

a misstatement of cash receipts will result in a misstatement of accounts receivable.

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Basically, financial statements are formally written records of the business and financial activities of a business entity or organization.

There are four (4) main types of financial statements and these are;

1. Balance sheet.

2. Cash flow statement.

3. Income statement.

4. Statement of changes in equity.

A current asset can be defined as all of the assets that are being owned by a company or business entity and are expected to be converted into their cash equivalent through sales or use within a period of one year of its date on the organization's balance sheet.

Some examples of current assets are account receivables, marketable securities, cash equivalent, etc.

In Financial accounting, there exist a significant level of interaction between cash receipt transactions and accounts receivable because a misstatement of cash receipts will result in a misstatement of accounts receivable, which gives information about legally enforceable monetary claims that are to be recovered by a company from a customer who is yet to make payment.

3 0

3 years ago

The following data from the just completed year are taken from the accounting records of Mason Company:

Nuetrik [128]

Answer:

Mason Company

a) Schedule of Cost of Goods Manufactured:

Direct labor cost $80,000

Raw material purchases $135,000

Manufacturing overhead

applied to work in process $201,000

Cost of goods manufactured $416,000

b) Schedule of Cost of Goods Sold:

Cost of goods manufactured $416,000

Under-applied overhead 21,000

Cost of goods sold $437,000

c) Income Statement:

Sales $656,000

Cost of goods sold $437,000

Gross profit $219,000

Selling expenses $105,000

Administrative expenses $41,000

Total expenses $146,000

Net income $73,000

Explanation:

a) Data and Calculations:

Sales $656,000

Direct labor cost $80,000

Raw material purchases $135,000

Selling expenses $105,000

Administrative expenses $41,000

Manufacturing overhead

applied to work in process $201,000

Actual manufacturing

overhead costs $222,000

Under-applied overhead $21,000 ($222,000 - $201,000)

5 0

2 years ago