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2 years ago

Business Information Management 1a: Introduction / Unit 2: The Finances of Business

Business

2 answers:

Y_Kistochka [10]2 years ago

5 0

The finances of businesses involve several things, including:

Revenue and profit.
Costs and expenses.
Budgets.

<h3>What are some components of finance in business?</h3>

The financial aspect of a business is hugely important to the success of the business because it involves making a profit which is the sole purpose of business.

In order to be successful in business, one needs a good financial plan. This plan will predict the revenue that the company should be earning in order to make profit.

It should also include the various costs and expenses that the business will incur as it engages in business. This financial plan usually comes in the form of a budget which provides ideas on how a business should spend money.

Note: Question was incomplete so a general overview of business finance was given.

Find out more on business finance at brainly.com/question/1265337.

kkurt [141]2 years ago

5 0

Answer:

FACTORS AFFECTING THE SPELLING DIFFICULTIES OF SENIOR HIGH SCHOOL STUDENTS IN 2021-2022

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Larry Mitchell invested part of his $ 24 comma 000 advance at 4 % annual simple interest and the rest at 7 % annual simple inter

mariarad [96]

Answer:

Amount invested at 4% is $14,000

Amount invested at 7% is $10,000

Explanation:

Data provided in the question:

Total amount invested = $24,000

Total yearly interest = $1,260

Now,

Let the amount invested at 4% annual simple interest be 'x'

Thus,

the amount invested at 7% annual simple interest will be $24,000 - x

Total interest earned = Interest at 4% + Interest at 7%

$1,260 = 0.04x + 0.07(24,000 - x)

$1,260 = 0.04x + 1680 - 0.07x

-420 = -0.03x

x = $14,000

Hence,

Amount invested at 4% is $14,000

Amount invested at 7% is (24,000 - 14,000) = $10,000

6 0

3 years ago

A job was budgeted to require 3 hours of labor per unit at $8.00 per hour. The job consisted of 7,100 units and was completed in

Arlecino [84]

Answer:

$2,400 unfavorable

Explanation:

Given that;

Time = 3 hours

Cost of labor = $8 per hour

Number of units = 7,100

Total actual labor cost = $172,800

Standard labor cost = 7,100 × 3 × $8 = $170,400

Total labor cost variance = Standard labor cost - Actual labor cost variance

Total labor cost variance = $170,400 - $172,800

Total labor cost variance = -$2,400

The negative sign here means that it is unfavorable, hence total labor cost variance is $2,400 unfavorable

4 0

3 years ago

The ledger of Umatilla, Inc. on March 31, 2022, includes the following selected accounts before adjusting entries.

alexgriva [62]

Answer:

1. Dr Insurance expence $300

Cr Prepaid insurance $300

2. Dr Supplies expense $1,600

Cr Supplies Asset $1,600

3. Dr Depreciation expense $200

Cr Accumulated Depreciation $200

4. Dr Unearned Service Revenue $4,000

Cr Service revenue $4,000

Explanation:

Preparation for the adjusting entries for the month of March.

1. Dr Insurance expence $300

Cr Prepaid insurance $300

(Being to record expired Insurance)

2. Dr Supplies expense $1,600

Cr Supplies Asset $1,600

($2,500+$900)

(Being to record Supplies on hand)

3. Dr Depreciation expense $200

Cr Accumulated Depreciation $200

(Being to record Depreciation of equipment)

4. Dr Unearned Service Revenue $4,000

Cr Service revenue $4,000

(2/5*$10,000)

(Being to record two-fifths of the unearned service revenue)

6 0

3 years ago

Choose the product(s) that are most likely to be manufactured as a job, rather than as a job lot. (Check all that apply.)

Ugo [173]

Answer:

gzfzf TUhjooiuipi

Explanation:

bukiiutzzdfhhhvm. nkkhkikljm.ji

8 0

3 years ago

Trek Cycles makes two products: X-1 and X-2. It takes 80,900 direct labor hours to manufacture the X-1 and 93,500 direct labor h

Vera_Pavlovna [14]

Answer:

Predetermined manufacturing overhead rate= $2.15 per direct labor hour

Explanation:

Giving the following information:

It takes 80,900 direct labor hours to manufacture the X-1 and 93,500 direct labor hours to manufacture the X-2 Line.

Total overhead= 225,000 + 149,960= $374,960

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 374,960 / (80,900 + 93,500)

Predetermined manufacturing overhead rate= $2.15 per direct labor hour

6 0

4 years ago