What is the formula for calculating simple interest?

Select the incorrect statement regarding costs and expenses.Multiple ChoiceExpenses are incurred when assets are used to generat

d1i1m1o1n [39]

Answer:

Manufacturing-related production costs are initially recorded as expenses

Explanation:

Cost is defined as an amount that has to be paid or spent to buy or obtain something. Cost can be specific, like, "What is the cost of a particular product?" or it can be a penalty, like consider the cost of missing the event.

Expenses sounds similar to that of cost: an amount of money that must be spent especially regularly ro pay for something.

Manufacturing cost are considered to as those that are spent to transform materials into finished goods. Manufacturing costs include direct materials, direct labor, and factory overhead.

Manufacturing cost are also known as factory cost or production cost

3 0

3 years ago

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On March 1, it was discovered that the following errors took place in journalizing and posting transactions:

kaheart [24]

Answer:

a. Reversal entry:

Debit Rent expense $4,650

Credit Miscellaneous Expense $4,650

Correct Entry:

Debit Rent expense $4,650

Credit Cash $4,650

b. Reversal entry:

Debit Accounts payable $3,700

Credit Cash $3,700

Correct Entry

Debit Cash $3,700

Credit Accounts Receivable $3,700

Explanation:

Reverse entry is to simply close to zero the original entry that has been made in mistake. Afterwards, record the correct entry to properly account the transaction.

To reverse the previously made entry, we simply debit what is credited and debit what is credited.

a. We need to close the rent expense credited by debiting it and credit the miscellaneous expense that is previously debited to zereod out the mistake recording. Then to record the correct entry, Debit Rent expense and Credit Cash at the amount $4,650

b. Just ike what we did on the previous transaction, we will debit the Accounts payable and credit the cash that has been recorded by mistake to zereod out the balance and then make the correct entry. Debit Cash $3,700 and credit Accounts receivable $3,700.

5 0

3 years ago

Answer a= Three important factors are as below= The Indian economy was facing the problem of economic slow down that caused the

Vika [28.1K]

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7 0

3 years ago

Briefly describe the trauma that is associated with GBV

SVETLANKA909090 [29]

Explanation:

<h3>Mental health impacts for survivors of gender-based violence include Post Traumatic Stress Disorder (PTSD), depression, anxiety, substance misuse, self-harm and suicidal behaviour, and sleep disturbances. In addition, a survivor of GBV may also face stigma and rejection from her community and family.</h3>

7 0

3 years ago

A liquid company produces hand sanitizer which has demand of 300,000 units per year.

jarptica [38.1K]

Answer:

EOQ = = 15,491.93 units

Optimal order interval 18.8 days (19.36 orders in year)

Total cost = $150,774.60

Explanation:

The Economic Order Quantity (EOQ) is the order size that minimizes the balance of ordering cost and holding cost. At the EOQ, the carrying cost is equal to the holding cost.

It is computed using he formulae below

EOQ = √ (2× Co× D)/Ch

Co- ordering cost per order- 20,

Ch -Holding cost per unit per annum- 10%× $0.5= 0.05

Annual demand: D- 300,000

EOQ = √(2× 20 * 2,580)/(10%× 0.5)

= 15,491.93 units

Assuming 365 days, the optimal order interval in dates

Number of orders per year

= annual demand/EOQ

= 300,000/ 15,491.93

= 19.36 times

in days:

= EOQ/300,000 × 365 days

= (15,491.93/ 300,000) × 365 days

= 18.8 days

Total annual cost =

Total cost Purchase cost + Carrying cost + ordering cost 

$

Purchase cost = $0.5 × 300,000 = 150,000

Carrying cost = (15,491.93/2) * 10%*0.5 = 387.29

Ordering cost = (300,000/15,491.93 ) × 20 = 387.29

Total cost 150,774.60

5 0

3 years ago