It is a false statement that Labor relates only to the production of manufactured goods and that services are not included.
<h3>What is a Labor?</h3>
This is a factor of production that involves individuals & machines that helps to they produce a good or service for a firm.
The reward for a Labor as a factor of production is known as Wages and Salaries.
Therefore, the statement is false because Labor helps in production of both the goods and services.
Read more about Labor
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Answer:
Value of closing inventory = $ 28,125.00
Explanation:
To value inventory, we multiply the cost per equivalent unit of production (cost per EUP) by the the number of equivalent units(EUP) for each of the cost element.
So the value of the closing inventory, is determined as follows:
Value of inventory = cost per E.U.P × number of E.U.P
Material = $2.50 × 4,500 = 11,250.00
Labour and overhead= $3.75 × 4,500 = 16,875.00
Total amount of work in progress
= 11,250 + 16, 875
= $ 28,125.00
Answer:
$60,000
Explanation:
The computation of the depreciation expense using the straight line method is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($540,000 - $60,000) ÷ (8 years)
= ($480,000) ÷ (8 years)
= $60,000
In this method, the depreciation is the same for all the remaining useful life
We simply used the above formula
I believe it's $125 for 48 months and then you pay $1,000 to own all the appliances.
Answer:
Non profit organization
Explanation:
Non profit organizations do not cost anything and generally help the public in some way.
