Answer:
C) Debit Cash $2,750
Credit Accounts Receivable $2,750
Explanation:
When payment is received in respect of services rendered or goods sold in the past periods, the accounting rule is to debit cash or bank as the case may be and credit account receivable for the amount received. This is necessary because in period when transaction took place, revenue has been credited and account receivable debited.
Answer:
C) variable costs of $72,000 and $25,000 of fixed costs
Explanation:
To determine the flexible budget we must first calculate the variable costs of producing 8,000 units:
direct labor per unit = $40,000 / 5,000 units = $8 per unit
electric power per unit = $5,000 / 5,000 units = $1 per unit
total variable cost per unit = $8 + $1 = $9
Total variable costs for 8,000 units = 8,000 units x $9 per unit = $72,000
Total fixed costs = $25,000
Answer:
<u>cost of goods manufactured schedule</u>
Raw Materials ($9,180 + $55,020 - $17,480) $46,720
Direct Labor $51,740
Manufacturing overheads :
indirect labor $6,510
factory insurance $4,700
machinery depreciation $4,380
machinery repairs $1,990
factory utilities $3,740
miscellaneous factory costs $1,980
Add Opening Work In Process $5,670
Less Closing Work In Process ($7,610)
Cost of goods manufactured $119,800
Explanation:
Cost of goods manufactured schedule shows a summary of results (cost) obtained from manufacturing activity during the production period.
Answer:
The correct answer is letter "E": "A" and "B".
Explanation:
In order to accomplish its monetary policy, the Federal Reserve (<em>Fed</em>) buys and sells securities in the open market to control the money supply. If there is more money supply in the open market, loan rates will decrease allowing investors to access more capital. At the same time, the Fed reserves and assets will increment.
Answer:
Protected status
Explanation:
In simple words, the trade secret is said to be protected when it has an economic value to the founding company or the company handling it and anyone who is exposed to the information regarding that is legally bound to not to disclose it.
Thus, from the above we can conclude that the given scenario indicates protected status.
