A report that details prevention, appraisal, internal failure, and external failure costs is called a _______

In a decision to either sell as is or process a product further, __________costs are considered irrelevant and _____________cost

MrRa [10]

In a decision to either sell as is or process a product further, joint costs are considered irrelevant and process further costs are considered relevant.

The decision of whether to sell the product right away or wait to sell it in order to earn more money. Although we think that growing the business's income is great, we also need to make sure that the costs associated with the growth will be met. We must contrast the profit margin between selling now and selling later because additional processes will demand more resources and expenses.

Additionally, we need to make an effort to maximise the return on our investment. Additional processes might need more money spent on equipment. These factors require us to apply the sell or process further technique in order to choose the best course of action.

Typically, this scenario occurs in a joint product where one or more outputs can be generated and produce additional revenue. The joint products are produced at the same cost up until the point where they are divided and further sold or processed. Although the products can be sold at the split point, there are instances when continuing developing them is more profitable.

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6 0

2 years ago

Suppose the following transactions occur during the current year:1. Jacques orders 50 bottles of wine from a French distributor

denis23 [38]

Answer:

$9,000

Explanation:

Step 1: Calculation of the total amount of each transaction

1. Jacques' bottles of wine = 50 × $30 = $1,500

This is an import since Jacques orders the bottles of wine from a French distributor.

2. A U.S. company textbook sales = 200 × $45 = $9,000

This is an export since a U.S. company sells the textbooks to a Canadian company.

3. Musashi's laptop = $1,500

This a consumption or domestic spending since it is a U.S. citizen that orders the laptop from a U.S. company

Step 2: Calculation of combined effect on the US national accounts this year

We use the following national accounts equation:

GDP = C + I + G + (X - M) .................................. (1)

Where;

GDP = Gross Domestic Product = ?

C = Consumption or domestic spending = $1,500

I = Investment = 0

G = Government expenditure = 0

X = Exports - $9,000

M = Imports - $1,500

(X - M) = Net Exports = $9,000 - $1,500 = $7,500

Substituting the values into equation (1), we have:

GDP = $1,500 + 0 + 0 + $7,500 = $9,000.

Therefore, the combined effect of these transactions on the US national accounts for the current year is a contribution of $9,000 to the GDP.

6 0

4 years ago

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GII estimated the foll

Andru [333]

Answer:

July's direct material flexible−budget variance is $ 1500.unfav

Explanation:

Genent Industries, Inc. (GII),

Budgeted quantity Budgeted price

Direct materials 0.3 pounds $20 per pound

Direct labor 0.7 hours $20 per hour

Actual Price for 15000 pounds and 2,875 DLH

Direct Materials $17 per pound

Direct manufacturing labor hours wages $20.50 per hour.

July's direct material flexible−budget variance is $ 1500. unfav

Budgeted Cost for 4000 containers -Actual Cost for 4000 containers

= $ 24000- $ 25500 = $ 1500

Since the actual cost is greater it is unfavorable

Flexible Budget Variance is obtained by subtracting actual costs from flexible budget costs at a given volume.

1 container requires 0.3 pounds

4000 containers require 0.3 * 4000= 1200 pounds

But actually 1500 pounds were used .

Now costs

Budgeted Costs for 1200 pounds is = 20 *1200= $24000

Actual Costs for 1500 pounds is = 17* 1500 = $ 25 500

8 0

3 years ago

On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees ear

gayaneshka [121]

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.

Explanation

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

Download xlsx

6 0

4 years ago

As inventory and property plant and equipment on the balance sheet are consumed, they are reflected: Select one: a. Both as an e

Sergio [31]

E) As an expense on the income statement.

<h3>An expense is what?</h3>

The operating costs incurred by a business in order to produce revenue are referred to as expenses. According to a proverb, "making money costs money."

Paying suppliers, paying employees, leasing facilities, and depreciating equipment are examples of frequent costs. Businesses are permitted to deduct tax-deductible expenses from their taxable revenue on their income tax returns in order to reduce their tax liability. However, there are tight guidelines set forth by the Internal Revenue Service (IRS) regarding which costs companies may deduct.

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5 0

2 years ago

A report that details prevention, appraisal, internal failure, and external failure costs is called a ________.