Answer:
Interest expense for 12 months = 0.08*12,000=960
March 1 to May 31= 3 months
Interest expense accrued = 960*3/12=240
Explanation:
Calculating the the value of an economy by adding up the value of every good and service produced would lead to overcounting as the value of intermediate goods would be counted twice.
<h3>What is gross domestic product?</h3>
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Intermediate goods are goods that are used in the production of goods and services. For example, flour that is used in the production of bread is an example of intermediate goods. It is not included in the calculation of gross domestic product.
To learn more about GDP, please check: brainly.com/question/15225458
Answer: Please refer to Explanation
Explanation:
The terms will be listed in bold at the end of the statement. If you require further clarification please do comment.
a. The costs deducted from the contribution margin to determine the responsibility margin. TRACEABLE FIXED COSTS.
b. Cost to produce plus a predetermined markup. COST-PLUS TRANSFER PRICE
c. Fixed costs that are readily controllable by the manager. NONE
d. A subtotal in a responsibility income statement, equal to responsibility margin plus committed fixed costs. PERFORMANCE MARGIN.
e. The subtotal in a responsibility income statement that is most useful in evaluating the short-run effect of various marketing strategies on the income of the business. CONTRIBUTION MARGIN.
f. The subtotal in a responsibility income statement that comes closest to indicating the change in income from operations that would result from closing a particular part of the business. RESPONSIBILITY MARGIN.
g. The amount used in recording products or services supplied by one business unit to another. TRANSFER PRICE.
