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3 years ago

What are fixed expenses?

2 answers:

5 0

The answer is B. Fixed expenses are just expenses that you know won’t change. They have a specific amount that will remain constant.

Dima020 [189]3 years ago

3 0

Answer: B. All expenses that are the same fixed amount on a recurring basis, such as rent

Explanation:

Fixed expenses in a business do not change depending on the level of activity that goes on in the business. This means that regardless of the number of sales made or units produced, these costs will remain the same.

This is the direct opposite of variable costs. These costs change based on the level of activity which means that they are affected by sales level, production level of both.

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During its first year of operations, Silverman Company paid $7,000 for direct materials and $9,500 for production workers' wages

r-ruslan [8.4K]

Answer:

Closing Inventory would be standing at $10000

Explanation:

The cost that forms part of the cost of inventory are all those production costs that are necessary to convert it into finished goods which in this case is:

Production cost = All direct costs are production costs

And

All Direct Cost = $7000 Direct Mat + $9500 Production Workers Wages + $8500 Direct Utilities bills = $25000

And the production cost incurred was for 5000 units which means the unit production cost was $5 ($25000 / 5000 units).

So closing inventory value would be = 2000 closing inventory units * $5

= $10000

5 0

3 years ago

Read 2 more answers

Brown Company provided services to a customer and immediately collected $1,900 cash. Show how to record the transaction to the T

hjlf

Answer:

credited; right; debited; left

Explanation:

The journal entry to record this transaction is shown below:

Cash A/c Dr $1,900

To Service revenue A/c $1,900

(Being the cash is collected)

It to be displayed in T accounts

For cash account

Cash

Debit side

Service revenue $1,900

For service revenue account

Service revenue

Credit side

Cash $1,900

So, the cash account would be debited and would be displayed on the left hand side while the service revenue would be credited and would be displayed on the right hand side

8 0

2 years ago

When eric and david sit down with linda, eric complains that david is micro-managing him on the quantum electronics project. a

Aleksandr [31]

Transactional leadership

Transactional leadership is a leadership style that deals with the function of supervision, organization, and employee’s performance to achieve high job performance. Leaders who carryout this style focuses on specific tasks and use rewards and punishments to motivate followers.

3 0

3 years ago

Read 2 more answers

Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the c

Sergio [31]

Answer:

January:

Total overhead= $11,948

February:

Total overhead= $11,360

March:

Total Overhead= $13,302.5

Explanation:

Giving the following information:

Budgeted direct labor hours for the first 3 months of the coming year are:

January= 13,140

February= 12,300

March 15,075

The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,750 per month.

To calculate the total overhead for each month, we need to sum the total variable overhead and the fixed overhead. <u>Total variable overhead is the result of applying the variable overhead rate multiplicated with the direct labor hour.</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

January:

Total overhead= (0.70*13,140) + 2,750= $11,948

February:

Total overhead= (0.70*12,300) + 2,750= $11,360

March:

Total Overhead= (0,70*15,075) + 2,750= $13,302.5

3 0

3 years ago

Madison Corporation reported taxable income of $400,000 in 20X3 and accrued federal income taxes of $136,000. Included in the co

kap26 [50]

Answer:

A) $424,000

Explanation:

Madison Corporation's current earnings and profits for 20x3 would be:

reported taxable income - accrued federal income taxes + regular depreciation - E&P depreciation + net capital loss carryover =

$400,000 - $136,000 + $200,000 - $60,000 + $20,000 = $424,000

5 0

3 years ago