A product is any good or service that satisfies a particular vision true or false

Family Furniture Corporation incurred the following costs. Identify the costs as variable, fixed, or mixed. 1. Wood used in the

Paraphin [41]

Answer:

Explanation:

1. Wood used in the production of furniture is a variable cost

2. Fuel used in delivery trucks is variable cost

3. Straight Line depreciation on factory building is a Fixed cost

4. Screws used in production is a Variable cost

5. Sales staff Salaries is a Fixed cost

6.Sales commissions Variable

7.Property taxes Fixed

8. Insurance on buildings Fixed

9. Hourly wages of Furniture is Variable

10. Salaries of factory supervisrors is Fixed cost

11. Utillities is Mixed cost

12. Telephone bill is a Mixed cost

8 0

3 years ago

Alpha Sounds Corp., an electric guitar retailer, was organized by Michele Kirby, Paul Glenn, and Gretchen Northway. The charter

snow_lady [41]

I just needed some points to figure things out i don’t do anything else

7 0

3 years ago

Assume you are buying insurance for your home. Your agent tells you that the pure premium is $300 and that the insurance company

Svetradugi [14.3K]

Answer:

$ 315

Explanation:

Given that

Pure premium = $300

Insurance company charges = 5%

Thus,

Amount of insurance company changes = 300 × 5%

= 300 × 0.05

= $15

Therefore,

Total premium = pure premium + insurance company charges

= 300 + 15

= $ 315

Note that: Premium is simply the amount to be paid regularly to an insurance company for an insurance policy. It is the money paid periodically by the insured to the insurer.

6 0

4 years ago

A metallurgist has one alloy containing 26%26% copper and another containing 69%69% copper. How many pounds of each alloy must h

Brilliant_brown [7]

Answer:

Ans. He must use 2,987.76 pounds of alloy X (Cu=69%) and 2,365.24 pounds of alloy Y (26%=Cu)

Explanation:

Hi, let´s call alloy X the alloy that contains 69% of Cu and alloy Y the one containing 26% of Cu. Since he needs to produce 5,353 pounds of alloy, the first equation that we need to use is the following.

$X+Y=5,353$

Now, we need this 5,353 pounds of the new alloy to be 50% Cu, therefore, we have to use a portion of alloy X and alloy Y. This is as follows.

$0.69X+0.26Y=0.5(X+Y)$

And we have already established that X+Y is equal to 5,353, therefore this equation should look like this.

$0.69X+0.26Y=5,353*0.5$

$0.69X+0.26Y=2,676.5$

And we solve for X this equation, this as follows.

$0.69X=2,676.5-0.26Y$

$X=\frac{2,676.5-0.26Y}{0.69}$

$X=3,878.98-0.3768Y$

Now, we use this result and substitute this for X in the first equation like this.

$3,878.98-0.3768Y+Y=5,353$

and then, we solve for Y

$0.6232Y=5,353-3,878.98$

$Y=\frac{1,474.02}{0.6232} =2,365.24$

So, he needs to use 2,365.24 pounds of alloy that contains 26% of Cu, this means that the rest (2,987.76 pounds) must come from the alloy that contains 69% of Cu.

We can check this result by finding the overall Cu obtained by this amounts of alloy, that is

$Coppper FromX=2,987.76*0.69=2,061.55$

$Coppper FromY=2,365.24*0.26=614.96$

That adds up to 2,676.51 pounds of pure Cu, and since the total weight of the new alloy is 5,353, this amount of copper makes up for:

$PercentCu=\frac{2,676.51}{5,353} =0.5$

50% of the total weight.

Best of luck.

7 0

3 years ago

Journalize Various Accounts Receivable Transactions the balance sheet of Starsky Company at December 31, 2010, includes the foll

Shalnov [3]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $136,800

Sales Discount Dr, $1,200 ($60000 × 2%)

To Accounts receivable $138,000

(Being cash and sales discount is recorded)

For recording this we debited the cash as it increased the assets and at the same time it reduced the assets so account receivable is credited and the sales discount is also debited

2. Accounts receivable Dr, $5,300

To Allowance for doubtful accounts $5,300

(Being allowance for doubtful debts is recorded)

For recording this we debited the account receivable as it increased the assets and at the same time it reduced the assets so allowance for doubtful accounts is credited

Cash Dr, $5,300

To Accounts receivable $5,300

(Being cash receipts is recorded)

For recording this we debited the cash as it increased the assets and at the same time it reduced the assets so account receivable is credited

3. Allowance for doubtful accounts Dr, $17,500

To Accounts receivable $17,500

(Being written off amount is recorded)

For recording this we debited the allowance for doubtful debts as it increased the assets and at the same time it reduced the assets so account receivable is credited

4 Bad Debts expense $14,900 ($20,000 - ($17,300 + $5,300 - $17,500)

To Allowance for doubtful accounts $14,900

(Being bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so allowance for doubtful debt is credited

7 0

4 years ago