Answer:
Items b, d, g, h, and i
Explanation:
The following items from the given question would be recorded in the income statement;
b. sales
d. wage expenses
g. net income
h. inventory
i. cost of goods
Answer:
False
Explanation:
As a company's sales level increases, its current assets will increase, e.g. cash, inventories, accounts receivables increase. generally, also the fixed assets increase, specially if the firm was previous producing at full capacity even before total sales increased. But as sales increase, not only do the company's assets increase, its current liabilities generally increase also, and its profits should increase. In this case, 60% of the company's profits are reinvested in the company, and the liabilities represent more than half of the total assets. Therefore, it is possible that the company needs external financing, but it is also possible that it doesn't. You cannot assume that the company will necessarily need external financing, because retained earnings and the increase in current liabilities might be enough to finance the company's growth in sales.
Answer:
B. Partial performance.
Explanation:
Partial performance is the place one party finishes performance under an oral contract – may make the oral contract enforceable, regardless of the Statute of Frauds. A party must exhibit his performance was exclusively inferable from the oral contract.
Answer:
C) $95 F
Explanation:
Planned cost of materials and supplies = $2,230
Actual cost of materials and supplies = $2,160
Flexible budget for November = $2,230 - $2,285 + 25 = $95 F.
It is is favorable (F) because Actual cost of materials and supplies is less than the Planned cost of materials and supplies.
Answer:
$281,612
Explanation:
Plane Operating Cost = Fixed cost + (Variable cost per unit1 × q1) + (Variable cost per unit 2 × q2)
Plane Operating Cost = $40,190 + ($2709*88) + ($10 * 303)
Plane Operating Cost = $40,190 + $238,392 + $3,030
Plane Operating Cost = $281,612
So, the plane operating costs in the planning budget for August would be $281,612