1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ira Lisetskai [31]
3 years ago
13

A mixed cost: A. Requires the future outlay of cash and is relevant for future decision making. B. Does not change with changes

in the volume of activity within the relevant range. C. Is directly traceable to a cost object. D. Contains a combination of fixed costs and variable costs. E. Has already been incurred and cannot be avoided so it is irrelevant for decision making. 7. A fixed cost: A. Requires the future outlay of cash and is relevant for future decision making. B. Does not change with changes in the volume of activity within the relevant range. C. Is directly traceable to a cost object. D. Changes with changes in the volume of activity within the relevant range. E. Has already been incurred and cannot be avoided so it is irrelevant for decision making. 8. The three major cost components of a manufactured product are: A. Marketing, selling, and administrative costs. B. Indirect labor, indirect materials, and miscellaneous factory expenses. C. Direct materials, direct labor, and factory overhead. D. Differential costs, opportunity costs, and sunk costs. E. General, selling, and administrative costs. 9. Products that have been completed and are ready to be sold by the manufacturer are called: A. Finished goods inventory. B. Work-in-Process inventory C. Raw materials inventory D. Cost of goods sold. E. Factory supplies. 10. Products that are in the process of being manufactured but are not yet complete are called: A. Raw materials inventory. B. Conversion costs. D. Work-in-Process inventory. E. Finished goods inventory. C. Cost of goods sold. 11. A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's: A. Cost of goods sold. B. Cost of goods purchased. C. Cost of goods available. D. Beginning merchandise inventory. E. Ending merchandise inventory.
Business
1 answer:
Ket [755]3 years ago
3 0

Answer:

6. D. Contains a combination of fixed costs and variable costs.

7. B. Does not change with changes in the volume of activity within the relevant range.

8. C. Direct materials, direct labor, and factory overhead.

9. A. Finished goods inventory.

10. D. Work-in-Process inventory.

11. B. Cost of goods purchased.

Explanation:

6. Mixed cost is a combination of fixed costs and variable costs. Therefore, the option "D" is the correct answer. However, it is not directly traceable to a cost object. The mixed cost has not been incurred until the manufacturer uses it. It cannot change up to a specific volume, but mixed cost increases after that limit — for example - Telephone bill or Electric bill.

7. Fixed cost is the cost that does not change as the volume changes within the relevant range. Therefore, option <em>B</em> is right, and option <em>D</em> is incorrect. Because it does not require the future outlay of cash for decision making, it is not directly traceable to a cost object. If the manufacturer does not rent a house for administrative purposes, it can be avoided.

8. The three major cost components of a manufactured product are-

Direct materials, direct labor, and factory overhead. Those are the combination of manufacturing cost. So, <em>C</em> is the answer. Indirect labor and materials are not major cost components, so <em>B</em> is incorrect. Opportunity cost and sunk costs are decision-making costs, so <em>D</em> is wrong. Selling, administrative, and marketing costs are non-manufacturing costs, so <em>A</em> and <em>E</em> are wrong.

9. When the manufacturing firm has completed the production of a specific product but has not yet sold to the customers or third parties, it is termed as the finished goods inventory. In short, it states that the number of manufactured products that are available for sale. It is a current asset for the manufacturer because those can be sold within a year.

10. Work-in-process inventory is such a type of manufacturing inventory or cost that has not yet been manufactured or partially manufactured or in the process of manufacturing. It is not a conversion costs because it may incur the direct labor and manufacturing overhead. It cannot be a finished good or cost of goods sold.

11. A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's cost of goods purchased. Therefore, the option "B" is correct.

The cost of goods sold is measured with the help of the cost of goods purchased. So, option <em>A</em> is incorrect. After adding the costs of goods manufactured with the beginning finished goods inventory, we can get the costs of goods available for sale. Therefore, <em>C</em><em>, </em><em>D</em><em>, </em>and<em> </em><em>E</em> cannot be the answer.

You might be interested in
3. Suppose Tyrone wants to open a savings account that earns 3.5% simple interest per year. He wants it to be worth $1500 in 4 y
saw5 [17]

Answer:

$1,307

Explanation:

The computation of the future value by using the following formula is shown below:

As we know that

Future value = Present value × (1 + interest rate)^number of years  

$1,500 = Present value × (1 + 0.035)^4

So, the present value is

= $1,500 ÷ (1.035)^4

= $1,307

Hence, the present value is $1,307 and the same is to be considered

3 0
2 years ago
2. The following table provides information about the production possibilities frontier of a Country.(4)
iren [92.7K]

Based on the PPF of the country, if the country were to produce an additional 20 computers at that level, the opportunity cost would be 40 kg of wheat.

If a technological advancement allows for computers to be produced more efficiently, the PPF would expand outwards as shown in the attachment.

<h3>What would be the opportunity cost?</h3>

At the point where this country can produce 10 computers, the amount of wheat it can produce is 400 kg wheat.

If it produces 20 more computers, it will move to the point where it can produce 30 computers and 360 kg of wheat. Opportunity cost would be:

= 400 - 360

= 40 kg wheat.

<h3>What happens due to a technological advancement?</h3>

When there is an improvement in technology, the production capacity of a nation increases. This leads to the production possibilities frontier expanding outward.

Find out more on the production possibilities frontier at brainly.com/question/26685094.

3 0
2 years ago
Circular errors are caused by adding the cell name of an _________ cell formula?
Alenkinab [10]
The answer is an active cell. A circular reference occurs when a cell in an Excel<span> 2010 worksheet refers to itself.</span>
7 0
3 years ago
Carol and Dave each purchase 100 shares of stock of Burgundy, Inc., a publicly owned corporation, in July for $10,000 each. Caro
Illusion [34]

Answer:

b. They are treated differently because the loss in value of Carol's stock is the result of a sale, while the loss in value of Dave's stock is simply a decline in value.

Explanation:

Although the stock owned by Carol and by Dave declines in value by $2,000, however Carol only has a realized and recognized loss of $2,000. The main factor in determining whether a disposition has taken place often whether an identifiable event has occurred. In the current scenario, Carol’s stock sale qualifies as a disposition and the Dave’s stock value decline does not qualify as a disposition and is simply a decline in value.

6 0
3 years ago
The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the foll
borishaifa [10]

Answer:

Explanation:

The preparation of the 2021 EPS presentation for the Esposito Import Company is shown below:

Income from continuing operations                           $7 million

Less: Loss from discontinued operations                  ($1.4 million)

Net income                                                   $5.6 million

Now the earning per share would be

Earning per share = (Net income) ÷ (Number of shares)

                              = ($5.6 million) ÷ (1 million shares)

                              = $5.6 per share

5 0
2 years ago
Other questions:
  • The Masterson family is setting up a vacation fund, and they plan on depositing $1,000 per quarter in an investment that will pa
    8·1 answer
  • K owns a variable annuity with an assumed interest rate of 4%. If the actual performance of the separate account(s) is 5%, the e
    12·1 answer
  • G wholesalers who own the merchandise they sell but do not physically handle, stock, or deliver it are referred to as __________
    10·1 answer
  • The _____ section of the business plan tells the reader what the organization is committed to doing.
    13·1 answer
  • Alvez reports net income of $347,500 for the year ended December 31. It also reports $115,800 depreciation expense and a $12,550
    5·1 answer
  • A large offshore oil field has attracted the interest of many oil drillers. The oil field is not owned by​ anyone, and any firm
    6·1 answer
  • In august, Johns Co.’s account receivable balance was written off using the direct method. In November, Johns pays the balance i
    13·1 answer
  • In _____ of the implementation phase of the systems development life cycle (sdlc), the old and new systems run simultaneously fo
    15·1 answer
  • Review Question 1 What is meant by deadweight​ loss? Why does a price ceiling usually result in a deadweight​ loss? Deadweig
    13·1 answer
  • the product life cycle (plc) defines the life of a product in four basic stages, which include .
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!