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3 years ago

How variable costing would most likely be used in a service business?

Business

1 answer:

photoshop1234 [79]3 years ago

4 0

It can help determine the supplies you need and how much it would cost

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Sales of services, $100,000, of which $30,000 was on credit.collected on accounts receivable, $27,300.issued shares of common st

aalyn [17]

The adjusting journal entry for accrued salaries at year-end:

To record the accrued salaries at year-end, Salaries Expense account is debited and Salaries Payable account is credited with the amount of accrued salaries. The adjusting journal entry for accrued salaries at year-end that amounted to $1,000 shall be as follows:

Salaries Expense Debit $1,000

Salaries Payable Credit $1,000

5 0

3 years ago

How does the dynamic model of aggregate supply and aggregate demand explain inflation? A. by showing that if total spending in

boyakko [2]

Answer:

The correct answer is option A.

Explanation:

The dynamic model of aggregate supply and aggregate demand shows that if an economy the total spending in the economy increases faster than total production, there will be a shortage. This shortage will cause the price level to increase and will ultimately lead to inflation.

When the increase in aggregate demand is greater than the increase in aggregate supply, it will create a shortage in the economy. The demand for goods and services will be more than the supply of goods and services. This will cause the price level to increase.

4 0

3 years ago

Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $888,000 (37,000 units at $24 each)

kvv77 [185]

Answer:

the ending inventory and cost of goods sold for 2021 based on a periodic inventory system is $816,000 and $3,378,000 respectively

Explanation:

The computation is shown below

Cost of goods sold is

= (117,000 units - 114,000 units) × $24 + 114,000 units × $29

= 3,000 units × $24 + 114,000 units × $29

= $72,000 + $3,306,000

= $3,378,000

And, the ending inventory is

= (37,000 units - 3,000 units) × $24

= $816,000

Hence, the ending inventory and cost of goods sold for 2021 based on a periodic inventory system is $816,000 and $3,378,000 respectively

7 0

3 years ago

Which of the following is NOT a

GalinKa [24]

Explanation:

Win-win approach to reward

allocations

5 0

3 years ago

A manufacturer reports the following costs to produce 30,000 units in its first year of operations: Direct materials, $30 per un

lubasha [3.4K]

Answer:

$53,019

Explanation:

Step 1 : Determine the unit product cost

Unit product cost under variable costing consist of only variable manufacturing costs.

Unit product cost = $30 + $26 + ($300,000 ÷ 29,200)

= $66.27

Step 2 : Calculate value of the inventory

Value of the inventory = Unit product cost x units in inventory

= $66.27 x 800

= $53,019

Under variable costing, the value of the inventory is $53,019.

5 0

3 years ago