Answer:
Value of the ending inventory=$600,000
Option A is correct ($600,000)
Explanation:
Given Data:
Ending inventory=6,000 units
Direct labor per unit =$40
Direct materials per unit=$20
Variable overhead per unit =$10
Fixed overhead per unit=$30
Required:
Value of the ending inventory=?
Solution:
Value of the ending inventory=(Direct labor per unit+Direct materials per unit+Variable overhead per unit + Fixed overhead per unit)*Ending inventory
Value of the ending inventory=($40+$20+$10+$30)*6000
Value of the ending inventory=$100*6000
Value of the ending inventory=$600,000
Option A is correct ($600,000)
Answer:
The data-mining technique that creates a report or visual representation is summarization.
Explanation:
The business world has changed drastically over the years in terms of marketing and service delivery because of growth in technology. The use of machines and internet has caused a greater need for access and analysis of information in such a way that can make a business thrive in the market. This means that most businesses have to look into better data-mining techniques that can assist them in the competitive business environment.
The different data mining techniques include; association-rule learning, classification, summarization and regression. They are explained further as follows:
1. Association-rule learning: this is a machine learning technique that discovers a relationship between large databases using the concept of strong rules.
2. Classification: this technique finds similarities in features of two or more data sets and groups them into the same category.
3. Regression: this is a predictive technique that is used to identify and analyse the likelihood of a specific variable.
4. Summarization: this technique takes the results from the data and puts it in a way that it is short and understandable by most people. It usually involves the use of tables and other data summarization software like Excel sheets to represent the data in a way that conclusions can easily be drawn. Data summarization is important especially in the digital world where large amounts of data are available for analysis and transfer. This technique helps in breaking down huge data into short comprehensible reports that can easily be used for quick decision making.
Answer:
A business may be constrained by a variety of licensure and other regulatory requirements, based on the industry and activities the business wants to pursue. For example, a lawyer must obtain a legal license in a particular state before he can open a practice in that state.
Answer:
It is $329,209.31
Explanation:
Please attached sheet for computation.
Answer:
b. Debit Cash, $3,600; credit Unearned Legal Fees Revenue, $3,600
Explanation:
The journal entry to record the given transaction is as follows
Cash Dr $3,600
To Unearned legal fees revenue $3,600
(Being the collection is recorded)
Since the collection is made so we debited the cash account and credited the unearned legal fees revenue so that the correct posting could be made
Hence, the correct option is b.
