If market price is $60, how many units of output will the firm produce : none of the mentioned choices are correct.
Define market price.Market price is regarded as the price at which a good or service can be purchased or sold in particular period. The dynamics of demand and supply have an impact on a good or service's market pricing. The cost at which the quantity supplied and the amount wanted are equal is known as the market price.
In order to evaluate consumer as well as economic surplus, the market price is utilized. The difference between the highest price a consumer is prepared to pay and the actual price they pay for the good is known as customer surplus, often referred to as the market price. Two related concepts of consumer and producer surplus are referred to as economic surplus. Producer surplus, often known as profit, is the sum that producers make when they sell their goods at the going rate. Consumer surplus and producer surplus together make up economic surplus.
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the office supplies account had a balance at the beginning of year 3 of $4,000 (before the reversing entry). payments for purchases of office supplies during year 3 amounted to $25,000 and were recorded as expense. a physical count at the end of year 3 revealed supplies costing $4,750 were on hand. reversing entries are used by this company. the required adjusting entry at the end of year 3 will include a debit to:
Office supply expenditure of $750. is the required adjusting entry at the end of year 3 will include a debit to
If office supplies are included as an expense, the entry will be as follows:
Cost of office supplies AC Dr.
To Cash an Acc.
The closing balance of the supplies on hand is then valued.
according to books, $4000
According to the current supply inventory, $4,750
$4,750 less $4,000 equals $750 as the difference.
This will be noted in the Office Supplies Expense category because only supplies are noted in this account.
hence, the appropriate choice is
Office supply expenditure of $750.
Full question is given below
The Office Supplies account had a balance at the beginning of year 3 of $4,000 (before the reversing entry). Payments for purchases of office supplies during year 3 amounted to $25,000 and were recorded as expense. A physical count at the end of year 3 revealed supplies costing $4,750 were on hand. Reversing entries are used by this company. The required adjusting entry at the end of year 3 will include a debit to:
a. Office Supplies Expense for $750.
b. Office Supplies for $750.
c. Office Supplies Expense for $24,250.
d. Office Supplies for $4,750.
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Which of the promotional elements requires expensive database management and is experiencing a declining response rate?.
The promotional element is direct marketing.
Direct marketing is any form of advertising that interacts or spreads with consumers directly as opposed to indirectly via another channel, like the media. Among other channels of distribution, campaigns can be sent via email, social media, and messaging. Direct marketing is referred to as such since it frequently eliminates the intermediaries, like the media used for advertising.
People have been proclaiming that direct marketing is no longer a significant part of the marketing mix ever since the advent of digital marketing. The response rates typically range from 1 to 3 per cent. It is a waste of money and is likely to annoy the consumer when a firm attempts to reach someone who is not interested in its items.
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which one of the following expenses for retirees is most likely to decrease? multiple choice clothing expenses insurance expenses medical expenses expenses for leisure activities gifts and contributions
Clothing expenses is the expense most likely to decreases for retirees .
Option A is correct .
What charges do you have in retirement?Your required average yearly charges in retirement fall into orders similar as household , transportation, living charges, family care and medical/ health. These are necessary retirement charges that you may not be suitable to live without.
How are retirement charges calculated?A good way to begin to estimate retirement charges is to use your current yearly income as a starting place, and also add and abate any charges you anticipate to change in retirement.
Retiree person :
A retired person is an aged person who has left his or her job and has generally stopped working fully. A retiree is a person who has retired. numerous retirees fail to consider affectation in their valuations of their withdrawal income. Benefits will be grounded on stipend, which are a measure of the income that retirees need to replace. A retiree is a person who has retired.
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a city has an assessed valuation of $\$8000000.$ the rate for school taxes is $60$ cents per $\$100$ valuation. if all but $4\%$ of the school taxes were collected, how many dollars were still owed?
The rate for school taxes is $60$ cents per $\$100$ valuation. if all but $4\%$ of the school taxes were collected, $ 1920 dollars were still owed.
The Ohio school district income tax brings in money to help the districts that impose the tax. All federal, state, local, and property taxes are not included in this school tax; they are independent and additional.
All British Columbians, including those who don't have children in school, benefit from the education system. You pay school tax to help cover the expense of educating children in British Columbia. The analytical process of calculating the current (or predicted) value of an asset or a business is called valuation. A valuation can be done using a variety of methods. When determining a firm's value, an analyst considers a variety of factors, including the management of the company, the makeup of its capital structure, the likelihood of future earnings, and the market value of its assets.
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question content area during the taking of its physical inventory on december 31, 20y4, barry's bike shop incorrectly counted its inventory as $207,529 instead of the correct amount of $169,567. the effect on the balance sheet and income statement would be
The effect on the balance sheet and income statement would be Assets and Retained Earnings Overstated By $52,362 and Net Income Overstated by $52,364.
An assets is a resource having economic worth that a person, organization, or nation owns or manages with the hope that it may someday be useful.
A company's balance sheet lists its Assets. They are divided into current, fixed, financial, and intangible categories. They are acquired or produced to raise a company's worth or enhance its operations. An accounting document known as a balance sheet lists a company's assets, liabilities, and shareholder equity. One of the three primary financial statements that are used to analyze a corporation is the balance sheet. It offers a picture of a company's financial situation as of the publication date, including what it owns and owes.
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mai filed a sexual harassment complaint against her supervisor. afterward, she noticed that managers were treating her differently and putting increased pressure on her. eventually, the situation became intolerable for mai and she voluntarily resigned from the organization. what does this exemplify? disparate impact constructive discharge quid pro quo sexual harassment undue hardship
mai filed a sexual harassment complaint against her supervisor. It is likely that Mai experienced constructive discharge for alleging sexual harassment.
In general, the term "constructive discharge" refers to situations in which it may be determined that a worker's retirement or resignation was not voluntary because the employer forced them to do so by fostering a hostile or intolerable work environment or by using other forms of pressure or coercion.
According to a legal principle known as constructive discharge, employers are responsible for creating working conditions that are so unpleasant that an employee is compelled to quit. In assessing whether the employee may be entitled to additional compensation from their previous company, this doctrine can be crucial.
Yes, it can be challenging to demonstrate constructive discharge. The onus of proof is on the employee, who must provide specific evidence that the employer fostered a hostile work environment that resulted in or would result in their resignation.
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Suppose the supply chain for a clothing industry is as follows: raw materials > parts manufacturing > final assembly > retailer > customer if a final assembly company wants to expand into the manufacturing industry, it is pursuing which integration?
Given that the supply chain for a clothing industry follows "raw materials > parts manufacturing > final assembly > retailer > customer". Assuming that a final assembly company wants to expand into the manufacturing industry, it is pursuing the integration known as Backward vertical integration.
What is a Backward vertical integration?Basically, in supply management, an integration refers to the information and communication systems of all stakeholders, which are able to seamlessly exchange information through all planning, execution and completion of logistics operations throughout the product's life time.
The backward integration, means a form of vertical integration in which a firm expands its role to fulfill tasks formerly completed by businesses up the supply chain. This means that a backward integration is when a company buys another company that supplies the products or services needed for production.
In conclusion, as backward integration often involves buying or merging with another company that supplies its products, most companies pursue its when it is expected to result in improved efficiency and cost savings.
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mary alice just won the lottery and is trying to decide between the options of receiving the annual cash flow payment option of $250,000 per year for 25 years beginning today, or receiving one lump-sum amount today. mary alice can earn 6% investing this money. at what lump-sum payment amount would she be indifferent between the two alternatives?
The lump sum payment is $3387590
Recall that:
The annual cash flow payment option is =$250,000
n = 25 years
Mary Alice can earn =6% investment of the money
Now
We find the lump sum payment which is given below:
Lump-sum amount = $250,000* PVAF at (i=6%,n=25y)
Thus
$250,000*13.55036
= $3387590
There would be no difference between the two options when a lump sum amount is generated by converting the $250,000 in alternative 1's cash flows to present value using the PVAF at 6%,25y
PVAF =Present value annuity factor
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Which type of competition allows
sellers to enter or exit the market
without barriers?
A. Open Competition
B. Monopolistic Competition
C. Pure Competition
D. Total Competition
Pure Competition (Perfect Competition) allows sellers to enter or exit the market without barriers. Thus, option 'C' is the correct option.
What is Perfect Competition?A perfect market, also known as an atomistic market, is defined by various idealizing criteria, which are together referred to as perfect competition, or atomistic competition, in economics, especially general equilibrium theory.
It has been shown in theoretical models with the perfect competition that a market would find equilibrium when the amount provided for each good or service, including labor, matches the amount sought at the present price. A Pareto optimal equilibrium would be this one. Both allocative and productive efficiency is provided by perfect competition.
Therefore, option 'C' (perfect competition) is the correct option.
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what are the types of contracts that fall within the scope of the statute of frauds? (check all that apply.) multiple select question. promises made in consideration of marriage contracts whose terms allow possible performance within one year contracts related to an interest in real property micro contracts or contracts for less than $100 between family members
the types of contracts that fall within the scope of the statute of fraud are:
promises made in consideration of marriage
contracts related to an interest in real property
According to the statute of frauds, certain agreements must be documented in writing, signed by the party against whom they are to be enforced, and contain enough information to support the agreement. It is a body of law that stipulates that some contracts must be in writing to be enforceable. Additionally, the written agreement frequently contains requirements, such as delivery terms or what must be covered by it. The purpose of the statute of frauds is to shield parties to a contract from a potential dispute or disagreement over the terms of the agreement in the future.
Contracts That Are Subject To The Fraud Statute are:
any vows made, including presents like an engagement ring, that are related to the marriage.contracts that take longer than a year to fulfill.contracts for buying and selling land. (Leases do not have to be covered unless they are for a year or longer.)guarantees that the executor will use his or her own money to settle an estate's debts. (However, the statute of frauds does not apply to pledges to pay such debt with estate monies.)contracts for the sale of items that are worth more than a certain amount of money, usually $500.Learn more about the statute of fraud here:
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Which financial statement shows how much cash was paid for newly acquired property, plant and equipment when cash is used for part or all of the purchase?.
When cash is used for all or a portion of the transaction, the statement of cash flows shows how much was paid in cash for newly acquired property, plant, and equipment.The cash inflows and outflows for the time period covered by the statement are displayed in the cash flow statement (i.e., cash paid for newly acquired fixed assets).
What is a cash flow statement statement?By monitoring an organization's cash flow, a cash flow statement is a crucial tool for managing finances.This report is one of the three crucial ones that determine a company's performance, together with the income statement and the balance sheet. To assess the liquidity and solvency of the company, organizations should monitor and analyze three different types of cash flow: cash flow from operating operations, cash flow from investing activities, and cash flow from financing activities.The cash flow statement of a corporation includes all three. A company's strength, profitability, and long-term outlook can all be determined using a cash flow statement.The CFS can assist in figuring out whether a business has enough liquidity or cash to cover its costs.A CFS can be used by a business to forecast future cash flow, which is beneficial for budgeting purposes.The main goal of a cash flow statement is to offer pertinent data regarding an organization's cash flows over a specific time period under multiple headings, including operating, investing, and financing operations. Direct method: A list of incoming and outgoing cash flows is used to present operating cash flows.In essence, the direct method subtracts your expenses from your income.A reconciliation from profit to cash flow is shown for operating cash flows using the indirect approach.To learn more about cash flow statement refer
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the difference between talent management and human resource management is... a. just the title; they are the same b. talent management is a more holistic approach to hiring and retaining the right people c. talent management relates to athletes and musicians, whereas human resource management represents other types of professional jobs d. talent management focuses on employee fit with the organization e. both b and d
The correct option is b. Talent management is a more holistic approach to hiring and retaining the right people.
The definition of talent management is the meticulously planned, strategic process of bringing on the right personnel and assisting them in reaching their full potential while keeping organisational objectives in mind. Thus, the process entails identifying talent gaps and open positions, locating and hiring qualified candidates, going to grow them within the system and developing necessary skills, training for expertise with a future-focused approach, and successfully engaging, retaining, and motivating them to accomplish long-term business goals. Similar to how all other areas of work have changed through time, talent management strategies have advanced recently in order to accommodate people-specific developments.
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t.l. franklin corporation has three costs: a, which is variable; b, which is fixed; and c, which is semivariable. the company uses the high-low method and extracted the following data from its accounting records: at 196,000 hours of activity, cost a totaled $2,642,000. at 110,408 hours, the low point during the period, cost c totaled $1,514,000; at 216,000 hours, the high point, cost c's fixed portion amounted to $2.00 per hour. at 144,000 hours of activity, the sum of costs a, b, and c amounted to $8,194,000. required: a. compute the variable portion (total) of cost c at 110,408 hours of activity. b. compute cost c (total) at 144,000 hours of activity. c. compute cost b (total) at 144,000 hours of activity.
T.l. franklin corporation has three costs : The answer is provided on the supporting sheet. All of the elements have been thoroughly explained and formatted. Refer to the supporting sheet for a more complete answer.
What is corporation?
A corporation is a legal body recognised by private and public law "born out of legislation"; a legal person in legal context) and recognised as such in law for certain purposes. 10 Charters were used to establish early incorporated entities . The majority of governments currently permit the formation of new corporations through registrations. Corporations come in a variety of forms, but are often classified by the law of the country in which they are chartered based on two factors: whether they can issue stock or if they are founded to generate a profit.
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Please refer to the photos attached below, I cannot type it here because of so called "inappropriate words"
Five manufacturing industries in Nigeria and two raw materials each
Answer:
Flour Mills of Nigeria
Unilever Nigeria -
PZ Cussons
DUFIL Prima Foods
Lafarge Cement
Explanation:
a team asked to manage an entire line of products including making decisions about products to produce, managing the production of the product lines, marketing them, and staffing their division, is given which kind of task?
Producing, coming up with ideas, fixing problems, and all of the above.
The required details about product is mentioned in below paragraph.
A product is anything that can be supplied to a market in order to satiate a customer's need or desire. In marketing, a product is an item, system, or service that is made accessible for consumer usage in response to consumer demand.
Products are sometimes referred to as merchandise in the retail sector, and they are purchased as raw materials in the manufacturing sector before being sold as finished goods. A form of product that is also considered is a service.
The most common types of commodities are basic materials like metals and agricultural goods, but they can also include anything that is readily available on the open market.In project management, products are the formally defined project deliverables that include or assist in achieving the project's goals. A similar idea is that of a sub-product, which is an unintended but valuable outcome of a production process.
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sales discounts should appear in the financial statements as a(n) . multiple choice question. operating expense addition to inventory part of current liabilities deduction from sales addition to sales
Sales discounts should appear in the financial statements as deduction from sales.
Net sales are operating revenues obtained by a business from the sale of its goods or provision of its services in bookkeeping, accounting, and financial accounting. They are directly recorded on the income statement as Sales or Net sales and are also referred to as revenue. Sales in financial ratios based on income statement numbers are net sales, not gross sales. Sales are the distinctive exchanges that take place in professional selling or during marketing campaigns.
Delivering goods or providing services generates revenue. In marketing, advertising, or general business contexts, the word "sales" frequently refers to an agreement between a buyer and a seller whereby the buyer agrees to acquire certain goods at a predetermined point in the future.
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the compensation plan known as blank involves payments being based on some measure of organizational performance, and the payments do not become part of the base salary.multiple choice question.individual incentiveslabor unionmerit payprofit sharing
The compensation plan known as profit sharing involves payments being based on some measure of organizational performance, and the payments do not become part of the base salary.
An employee retirement plan that shares in corporate profits is known as a profit-sharing plan. An employee who participates in this sort of plan, also known as a deferred profit-sharing plan (DPSP), is given a share of the company's profits depending on its quarterly or yearly revenues. Although there are usually limitations on when and how a person can withdraw these assets without incurring fines, profit-sharing plans are a terrific method for businesses to give their employees a sense of ownership in the organization.
The amount of the firm's income it intends to share under the profit-sharing plan is entirely up to the corporation.
Employees are not permitted to make contributions to profit-sharing plans; only the firm may do so.
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assume the perpetual inventory system is used. 1) green company purchased merchandise inventory that cost $64,200 under terms of 2/10, n/30 and fob shipping point. 2) green company paid freight cost of $2,420 to have the merchandise delivered. 3) payment was made to the supplier on the inventory within 10 days. 4) all of the merchandise was sold to customers for $94,400 cash and delivered under terms fob destination with freight cost amounting to $1,620. what is the net cash flow from operating activities that results from these transactions?
The gross margin from these transactions of Green Company is is $8,198
What is gross margin?Gross margin is the amount of money that remains after all direct expenses associated with creating or acquiring the products or services that a business sells have been deducted. The more money the corporation may give toward indirect costs and other expenses like interest, the larger the gross margin.
In mathematically,
[tex]Gross margin = Sales - Cost of good sold - freight cost of purchase[/tex]
where,
Sales = $24,900
Cost of good sold = Purchase × ( 1 - Discount rate)
= $16,700 × (1 - 0.04)
= $16,032
Freight cost = $670
Now apply these amounts in the above equation
So gross margin = $24,900 - $16,032 - $670
= $8,198
The freight on sales is paid by the buyer, hence it is not considered.
Thus, The gross margin from these transactions of Green Company is is $8,198
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xyz co. sold equipment that originally cost $14,000 with accumulated depreciation of $11,000 for $4,000 cash, resulting in a gain of $1,000. which of the statements below are correct regarding the treatment of this transaction on the statement of cash flows for the current period? (check all that apply.)
$1,000 is deducted from operating activities; $4,000 is a cash inflow in investing activities.
What are operating activities?Operating activities are all the things a business undertakes to consistently advertise its goods and services. Non-operating activities are one-time occurrences that may have an impact on sales, costs, or cash flow but are unrelated to the regular, main activity of the company.
What are investing activities?Buying tangible assets, investing in securities, or selling securities or assets are all examples of investing activity. If management is investing in the long-term health of the company, negative cash flow from investing operations could not be a bad indicator.
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an appliance manufacturer has partnered with a non-governmental organization dedicated to rebuilding used consumer products for communities in developing economies that need safe and reliable household goods. as a result of this collaboration, the manufacturer has redesigned its appliances to include post-consumer recycled plastics from developing nations, to reduce their landfill waste while providing for their basic needs. which element of sustainability does this best describe?
Collins Makes briefcases and duffel bags. They bring their raw materials from East Africa, where they have a processing plant. They are now looking to increase their productivity by either renovating existing equipment or purchasing completely new equipment.
Africa is the arena's 2d-biggest and 2nd-maximum-populous continent, after Asia in each instance. At approximately 30.3 million km2 (eleven.7 million square miles) which includes adjoining islands, it covers 6% of Earth's total surface location and 20% of its land place. With 1.4 billion humans as of 2021, it accounts for about 18% of the world's human populace. Africa's populace is the youngest among all of the continents; the median age in 2012 turned 19.7 while the worldwide median age was 30.4. No matter the wide range of natural resources, Africa is the least wealthy continent according to capita and second-least rich by using total wealth, at the back of Oceania.
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when darla prepares her company's balance sheet, she should include in the list of current assets. a. land b. equipment c. leased property d. accounts receivable
When Darla prepares her company's balance sheet, she should include accounts receivable in the list of current assets. Option D
What are accounts receivable?Generally, Accounts receivable, also known as AR or A/R, are claims for payment that are legally enforceable that are held by a firm for products delivered or services performed that consumers have requested but have not yet paid for. The abbreviation for accounts receivable is accounts receivable.
The money that consumers owe a firm for products or services that they have received but have not yet paid for is referred to as the company's accounts receivable.
For instance, the amount that is owed by consumers who buy things on credit is added to the accounts receivable when such customers make their purchases.
In conclusion, When Darla is putting out the balance sheet for her firm, she needs to make sure that the list of current assets includes accounts receivable. The D Option
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CQ
when darla prepares her company's balance sheet, she should include ___ in the list of current assets. a. land b. equipment c. leased property d. accounts receivable
firms are increasingly shifting spending from the web to other media such as print, radio, and television as these are often easier to track and analyze. group of answer choices true false
Firms are increasingly shifting spending from the web to other media such as print, radio, and television as these are often easier to track and analyze.
False
What is Media?
The word "medium," which refers to any channel of communication, is pluralized as "media." This could include anything from exposed paper to virtual information and includes things like academic content, art, and news in addition to many other kinds of records.
In other words, Media is a communication tool used to deliver information.
The three types of media are commonly known as news media, social media, and web media, but you might also see them referred to as earned media, shared media, and owned media.
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variable costs per unit: direct materials $2.50 direct labor 0.75 manufacturing overhead 1.25 selling and administrative 1.50 fixed costs for the period: manufacturing overhead $3,000 selling and administrative 2,000 the selling price per unit of product is $15.00. at a production and sales volume of 15,000 units, what is the total profit for summertime company?
The total profit for Summertime company is $130000
Variable costs for Summertime company per unit of production:
Direct material = $2.50
Direct labour = $0.75
Manufacturing overhead = $1.25
Selling and administrative = $1.50
Total variable cost per unit = 2.50 + 0.75 + 1.25 + 1.50 = $6 per unit
Variable cost for 15000 units = 6*15000 = $90000
Fixed costs of production for the company:
Manufacturing overhead = $3000
Selling and administrative expense = $2000
Total fixed costs = 3000 + 2000 = $5000
Total cost for 15000 units = FIxed cost + Variable cost = 5000 + 90000 = $95000
Selling price per unit of production= $15
Revenue from 15000 units of items= 15000*15 = $225000
Profit = 225000 - 95000 = $130000
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adam smith claims that the proper role of governments is to restrict and regulate the self-interested behavior of business organizations for the common good. (f)
According to Adam Smith, the proper function of governments is to restrain and regulate business organizations' self-interested behavior for the benefit of the community.
Without private property, capitalism is possible. Marx maintained that workers are not truly free when they are alienated.
What was Adam Smith's perspective on government?Today, Adam Smith is regarded as the founder of laissez-faire economics, or "to leave alone."This is the possibility that administration ought to let the economy be and not obstruct the "normal flow" of unrestricted economies and deregulation.
What was government's role under Adam Smith?Smith was against the government interfering with market operations. He was of the opinion that a government should be responsible for three things: protecting national borders, upholding civil law, and carrying out public works (like education).
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all of these positions are used to create a zero-cost collar except a) writing a call option on the stock. b) purchasing a put option on the stock. c) purchasing a call option on the stock. d) a long position in the stock.
Positions are used to create a zero-cost collar except purchasing a put option on the stock.
What Is a Zero-Cost Procedure?
The term zero-cost procedure alludes to an exchanging or business choice that involves no cost to execute. A zero-cost system costs a business or individual nothing while at the same time further developing tasks, making processes more effective, or lessening future costs.
What is a zero-premium collar?
A zero-cost collar is a choices collar methodology that is intended to safeguard a broker's possible disadvantage. It does this by using call and put choices which, basically, counterbalance one another. While it will set a limit for potential misfortunes emerging from the exchange, it will likewise cover possible benefits.
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current yield what's the current yield of a 8 percent coupon corporate bond quoted at a price of 102.90? note: round your answer to 1 decimal place. multiple choice 8.0% 8.2% 10.3% 7.8%
The current yield of the 8% coupon corporate bond quoted at a price of 102.90 is calculated to be 7.8%
The current yield of a bond can be determined by dividing the annual coupon payment by the current market value of the bond. The current yield can be represented by the following formula;
current yield = coupon rate ÷ current price
current yield = 8% / 102.90%
current yield = 0.08 / 1.0290
current yield = 0.0777
Now converting this calculated value into percentage as follows;
current yield = 0.0777 × 100
current yield = 7.8%
Therefore; the current yield of the 8% coupon corporate bond is calculated to be 7.8% if it is quoted at a price of 102.90
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what type of mutual fund has the stated objective to invest in securities of u.s.-domiciled entities, as well as those domiciled in foreign countries?
Equity funds are the most popular .
What are different type of mutual funds ?
Target date funds, money market funds, bond funds, and stock funds are the four primary categories into which most mutual funds fit. Features, dangers, and benefits vary depending on the kind.
Risks associated with money market funds are minimal. According to the legislation, they are only permitted to invest in a limited number of high-quality, short-term securities issued by American businesses and national, state, and municipal governments.
Due to the fact that they often seek to generate bigger returns, bond funds carry more risks than money market funds. The risks and benefits of bond funds can vary greatly because there are several different kinds of bonds.
Stock funds purchase shares of public companies. There are variations among stock funds.
Growth funds concentrate on equities with the potential for greater financial gains than average but may not pay a monthly dividend.
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A highly efficient business: select one: a. constantly targets reductions in dollar and time costs b. sells to customers for both cash and on credit c. gets all its documentation done quickly to start operating d. pays creditors on time to keep its suppliers happy
D. Pays creditors on time to keep its suppliers happy.
Depending on the context, the term "creditor" can refer to a variety of entities, but often refers to a financial institution or a person who is owed money.
What types of people are creditors?Depending on the context, the term "creditor" can refer to a variety of entities, but often refers to a financial institution or a person who is owed money. You might be referred to as a debtor or borrower if you are the one who owes the money to the creditor.A creditor is defined as "any individual who offers or extends credit establishing a debt or to whom a debt is owed" by the Consumer Financial Protection Bureau (CFPB). As long as they give money to another party, a financial institution, an individual, or a nonprofit organization could all be examples of creditors.While loans are made to creditors, payments or the money owing are obtained from debtors. In the balance sheet's assets column, debtors are displayed.To learn more about Creditors refer to:
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for which of the following manufactured/made products would job costing be more appropriate than process costing? a. wedding gown made according to client's specification/preference b. oil and gas c. chemicals d. liquid soap
The right answer is option a. wedding gown made according to client's specification/preference.
The required details about job costing is mentioned in below paragraph.
An accounting tool called job costing enables companies to track expenditures for specific jobs. The cost of labor, materials, and overhead for a particular project are added together to determine the job cost. A costing technique called job costing is used to estimate the price of particular jobs that are carried out in accordance with the customer's requirements. It is a fundamental costing technique that can be used in situations when there are numerous independent projects or contract activities. With TallyPrime, inventory management has just been lot easier.Businesses in the white-collar sector of the economy, such law companies, accounting firms, and private investment firms, can handle unique client accounts using job order costing. For instance, accounting firms may view every client as a separate task.
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puppy palace uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. during march, the kennel budgeted for 3,000 tenant-days, but its actual level of activity was 2,980 tenant-days. the kennel has provided the following data concerning the formulas used in its budgeting and its actual results for march: data used in budgeting: fixed element per month variable element per tenant-day revenue $ 0 $ 29.50 wages and salaries $ 2,000 $ 5.50 food and supplies 200 10.30 facility expenses 7,000 2.50 administrative expenses 6,800 0.30 total expenses $ 16,000 $ 18.60 actual results for march: revenue $ 106,530 wages and salaries $ 23,400 food and supplies $ 36,780 facility expenses $ 19,150 administrative expenses $ 9,120 the net operating income in the flexible budget for march would be closest to:
During March, the Flexible Budget's net operating profit will be $10,320.
What is flexible budget?
A flexible budget is one that adapts to a company's activity or volume levels. A flexible budget, as opposed to a static budget, that does not fluctuate from of the amounts set when the budget was produced, continuously "flexes" with such a business's variations of costs. This budgeting method frequently involves variable rates per units instead of a fixed amount, allowing a corporation to predict prospective increases or drops in monetary needs.
This budget is frequently based on fluctuations in a firm's actual income and employs percentages of sales rather than fixed numbers. A flexible budget, for example, may designate 25% of an income statement to salaries rather than $100,000 to salary inside a given year.
A flexible budget is one that is based on actual data, such as actual quantity saved and actual cost spent based on real output. Variable costs change as output changes, but fixed costs remain constant.
As a result, in the case of Puppy Palace, the Actual Activity level was 5,320 Tenant Days.
As a result, the Flexible Fund will be calculated using the Actual Level Of activity of 5,320 Tenant Days.
As a result, Net Operating Profit Using a Flexible Budget would be computed as follows:
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