Answer:
The given condition is an example of:
A. Menu costs
Explanation:
In the given question mentioning data is that
Jake is been managing a grocery store in any country which is experiencing high rate of inflation. He is mentioned to be paid in cash.
On his very payday he went outside immediately and bought as many goods as he could for himself as he was going to get his pay today and was needing those items.
So, he thought of buying all the items he is needing as for the next two weeks in order of prevention of the money in his wallet from losing value due to high inflation rates.
And at last what he couldn't spend on buying for all that amount he converted that amount into most stable foreign currency for being used as a steep fee.
So all this were an example of :
A. Menu costs
Answer:
$165,000
Explanation:
The first step is to calculate the work in process inventory
= 50,000/40/100
= 50,000/0.4
= 125,000
Therefore the total manufacturing cost can be calculated as follows
= 240,000-125,000+50,000
= 115,000+50,000
= 165,000
Hence the total manufacturing costs is $165,000
Answer:
(a) rr: 1/3, cr: 0.5, m:1.8 M: 1800
(b) 1500
(c) 200
Answer:
Kindly check attached picture
Explanation:
Given the details below
Accounts Debit Credit
Cash $16,000
Accounts receivable 162,000
Prepaid rent 10,000
Supplies 31,000
Equipment 370,000
Accumulated depreciation $129,000
Accounts payable 11,000
Salaries payable 3,500
Interest payable 1,900
Notes payable (due in two years) 37,000
Common stock 210,000
Retained earnings 176,100
Dividends 27,000
Service revenue 360,000
Salaries expense 150,000
Advertising expense 75,000
Rent expense 18,000
Depreciation expense 32,000
Interest expense 2,500
Utilities expense 35,000
Totals $928,500 $928,500
Prepare an income statement for China Tea Company for the year ended December 31, 2021
Kindly check attached picture
Answer:
No, we can’t say
Explanation:
In this question, we are asked to decide if we can say that Guatemala’s standard of living grew more than that of the US’ standard of living between the years 1993 and 2003 given the pointers in the question.
We cannot say that this is correct because of the following reasons;
As observed from the question, the US growth rate was calculated between the years 1948-2003, which is indicative of a 55 year span. Now, comparing this with that of Guatemala, we can see that the span here is just 10 years I.e from 1993 to 2003.
Also, we were not provided with the population growth rate in both countries and this makes it difficult to judge which of the two countries have a better growth in terms of standard of living
