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3 years ago

Consider the following comments about absorption- and variable-costing income statements:

Business

1 answer:

Lostsunrise [7]3 years ago

7 0

Answer:

E) I, II, and III.

Explanation:

Variable costing can be regarded as a concept of managerial accounting cost

whereby during the period of producing the product there is incurred

manufacturing overhead.

Absorption costing income statement, utilize absorption costing when creating income statement. The income statement focus on the cost through sectioning of cost into period cost and product.

It should be noted that

I. A variable-costing income statement discloses a firm's contribution margin.

II. Cost of goods sold on an absorption-costing income statement includes fixed costs.

III. The amount of variable selling and administrative cost is the same on absorption- and variable-costing income statements.

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On October 1, 2015, Zircon Jewelry Company accepted a 4-month, 10% note for $2,400 in settlement of an overdue account receivabl

Whitepunk [10]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $2,480

To Interest receivable $60

To Interest revenue $20

To Note receivable $2,400

(Being the collection of funds is recorded)

The computation of interest receivable is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)

= $2,400 × 10% × (3 months ÷ 12 months)

= $60

And for interest revenue would be

= Principal × rate of interest × number of months ÷ (total number of months in a year)

= $2,400 × 10% × (1 months ÷ 12 months)

= $20

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3 years ago

Explain why employers are considered buyers of skills and employees sellers of skills in the labour market.

raketka [301]

The employers look for potential employees that they think would be a good fit and have good qualities.

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3 years ago

A random sample of 89 tourists in chattanooga showed that they spent an average of $2860 (in a week) with a standard deviation o

faust18 [17]

Answer:

The complete question is given in the explanation box below and the solutions to the problem is shown in the pictures attached herewith accordingly. Thank you.

Explanation:

a. Determine the degrees of freedom for this test.

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4 years ago

Read 2 more answers

Why is it difficult for some people to save money?

sammy [17]

If they have alot of money then it might be hard for them to save because they have enough or if they dont have alot of money then they just wanna have alot of items i do that sometimes☺

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4 years ago

Assume there are 100 suppliers of widgets in the widget market. Half of these suppliers supply 35 widgets to the market each, a

Bess [88]

Answer:

Total widgets supplied in the market will be 4000

So option (d) will be correct answer

Explanation:

We have given total number of suppliers = 100

It is given that half of the suppliers supply 35 widgets

So 50 supplier supply 35 widgets each

So total number widgets supplied by 50 supplier = 50×35 = 1750

A quarter, that is 25 supplier supply 40 widgets

So widgets supplied by 25 supplier = 25×40 = 1000

And other quarter, that is 25 supplier supply 50 widgets each

So widgets supplied by 25 supplier = 25×50 = 1250

So total widgets supplied in the market will be = 1750+1000+1250 = 4000

So option (d) will be correct answer

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3 years ago