Answer:
The correct option is (B)
Explanation:
Cost of goods sold the cost attributed to goods produced by the organization. Cost of goods sold is incurred by organizations that manufactures a tangible product. Service firms do not incur any cost on goods sold as they do not need any raw material to manufacture goods.
Cost of goods sold is an expense and not an asset as it is a cost incurred to manufacture assets for the organization.
Therefore, correct option is (B)
Manufacturing overhead is consists of indirect materials, indirect labor, and other indirect costs. To solve the problem, a portion of manufacturing income statement looks like this:
Direct material -----------------------$90,000
Direct labor ---------------------------$140,000
Manufacturing overhead--------________
Total cost to manufacture $300,000
Add: Work in process, beg $ 25,000
Less: Work in process, end $ 18,210
Cost of goods manufactures---$ 306,790
So, to solve the (?) in the above format, manufacturing overhead (MO) is derived as follows:
MO = Cost to manufacture - prime cost
= $300,000 - ($140,000 + $90,000)
= $70,000
Thus, manufacturing overhead is $70,000.
Between 2012 andâ 2014, theâ Fed's policy plan recognized the conceptual
Phillips curve because the Fed plan called for
Full employment in the context of stable prices
<span>As wage costs goes up...</span>
Answer:
The income Statement for October
Explanation:
Unearned rent is the income prepaid which should be excluded from the actual income because it is not related to the current year .
Thus the income statement for the month of october will be overstated because of extra income shown which is received in advance but not earned.
There will be no effect on the Balance sheet because the net profit transferred will is overstated and on the other hand the assets side of the balance sheet has not recorded the unearned rent as well due to a dual effect.
Answer:
4,400 deer
Explanation:
We know that,
Total fund received = Total cost
Total fund received = Fixed cost + variable cost
$64,000 = $20,000 + $10 × variable cost
$44,000 = $10 × variable cost
So, the variable cost = $44,000 ÷ $10 = 4,400 deer
We simply make the equation, so that the calculation can be done in easy manner. And the total cost include both the fixed cost and the variable cost
