Answer: $651,000
Explanation:
From the above question, Apple's iPod carries a two-year warranty against manufacturer's defects.
warranty costs are expected to be approximately 3% of sales.
Total sales are $30.7 million, and actual warranty expenditures are $270,000.
Total warranty cost = $30.7 million x 3% = $921,000
During the 1st year only $270,000 of warranty expenses was made.
Therefore the company will carry as liability at the end of the year a total of $921,000 - $270,000 = $651,000
Answer:
The equilibrium price would increase, and the equilibrium quantity would decrease.
Explanation:
With an increase in the cost of steamed milk, the cost of materials, one of the key factors in pricing decision would rise, which means that the equilibrium price of lattes would also increase. With an increase in price, according to the law of demand, there is a decrease in demand. Therefore, the quantity of lattes sold at the new equilibrium price would decrease.
The equilibrium price would increase, and the equilibrium quantity would decrease.
Someone who affirms a contract by word or action and has the authority to act on someone else's behalf.
Master budget is an expensive strategy and some of the major elements that form the master budgets are the over head and the production the cost and the expenses . The budgeting process is master budgeting and it is always effective
Explanation:
Master budgeting is something that includes the future calculated value and the future income and the expenses of the company and the level at which the expenses are maintained are all contained in the master budget
There are two types of budgets the operational budgets and the financial budgets and the main elements of the master budgets are the overall incomes and the expenses the future investments the predicted total production of the company are all taken into account