Explanation:
The journal entry to close the books is
Cost of Goods sold A/c Dr $1,200
To Manufacturing Overhead A/c $1,200
(Being the under-applied overhead is recorded)
Since the jobs were undercosted, that means the overhead is applied under overhead so we debited the cost of goods sold account and credited the manufacturing overhead account. Both the items are recorded for $1,200
Answer:
$475,500
Explanation:
Sales is $1,000The discountscount is $2500
Sales return and allowances are $15,000
The cost of goods sold is $525,000
Therefore the gross profit can be calculated as follows
= 1,000,000-2,500-15,000-525,000
= 457,500
Hence the gross profit is $475,500
Answer:
The answer is A) Puts emphasis on the external environment, which plays a role in determining a company´s ability to achieve above-average returns.
Explanation:
The I/O Model of Above-Average Returns basically assumes that the industry in which a company decides to compete in has a much larger influence on performance (earnings and profit) than the choices the managers of this company make.
The basic assumptions of this organization model are:
- The external environment imposes pressures and constraints that determine the strategies of the company and will result in above average returns.
- It assumes competing companies control similar strategically relevant resources and pursue similar strategies.
- Resources are highly mobile across companies, so that any differences that might develop between companies will be short-lived.
- Decision-makers within the company are assumed to be rational and committed to acting in the company´s profit-maximizing behaviors.
The primary purpose of the aggregate demand and aggregate supply model is to demonstrate the classical dichotomy. the price level is higher than expected making production more profitable. If aggregate demand shifts right, then eventually price level expectations rise.
The purpose is defined as planning or intending to do something. An example of purpose is a person who has decided to save his 10% of his income. object to reach. target; target; target. Desired Outcome; Intent.
Your life purpose is made up of your central motivational goal in life, the reason you wake up in the morning. Purpose can guide life choices, influence behavior, shape goals, provide direction, and create meaning. For some, the purpose is tied to vocation, meaningful and rewarding work. Think about it: A sense of purpose tends to increase optimism, resilience, and hope. Experience joy, happiness, and contentment more often. better physical health.
Learn more about purpose here
https://brainly.in/question/8125471
#SPJ4
Answer:
Explanation:
When preparing tax returns, a company uses different rules from those used to prepare financial statements.
