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1 year ago

5

The rationing function of prices refers to the ability of the competitive forces of supply and demand to establish a price at wh

ich ______.

1 answer:

monitta1 year ago

4 0

Answer:buying and selling decisions are consistent

Explanation:

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Which of the following statements is true? a. The production budget is not converted into dollars. b. The sales budget includes

Svetllana [295]

Answer:

e. All of these choices are correct.

Explanation:

Note:

Statement a. about production budget is correct as the production budget only estimates number of units to be produced, in quantity and not in dollars and therefore is not converted into dollars.

Statement b. about sales budget is also correct as it shows the quantity in units and also in value.

Statement c. about overhead budget is also correct as the budget segregates variable and fixed overheads properly.

Statement d. about labor budget is correct, as in this budget an average rate is used for calculating the expenses.

Therefore all of the above is correct.

8 0

3 years ago

Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,000 shares of its own common stock

Andrei [34K]

Answer:

Revised Equity Section of Balance Sheet After October 11

<u> </u>

Common Stock at par $820,000

Paid-in capital in excess of Par <u> $266,000</u>

Total Contributed Capital $1,086,000

Retained earnings <u> $ 944,000</u>

Total $2,030,000

Less: Treasury Stock <u> ($ 210,000)</u>

<u>Total Stockholder's Equity $1,820,000</u>

Treasury stock = 6,000 * 35

= $210,000

5 0

2 years ago

Morgan company issues 9%, 20-year bonds with a par value of $750,000 that pay interest semi-annually. the current market rate is

Gemiola [76]

The amount of interest owed to the bondholders for each payment is $33,750. The amount interest to the bondholders for each payment should be calculated with this formula: Interest Yield Rate x Face Value of Bond x Time (9% x $750,000 x 1/2). The market interest rate of 8% has no effect on the interest payment calculation but it impacted the bond market value.

6 0

2 years ago

Which of the following statements is correct concerning product costs? A. Product costs are shown with current liabilities on t

Brut [27]

Answer: D. Product costs are expensed in the period the related product is sold

Explanation:

The statement that is true with regards to product cost is that product costs are expensed in the period the related product is sold.

It should be noted that the account for the cost of goods sold consist of product cost. In a situation whereby goods are not sold, the goods will be carried to the next period.

5 0

2 years ago

True or False. Managers at a manufacturer of lasers know that the supply of rare earth metals, available only from certain parts

kiruha [24]

Answer:

True

Explanation:

6 0

2 years ago