Answer and Explanation:
Given:
Product 1 Product 2 Product 3
Cost of product $20 $90 $50
Selling price $40 $120 $70
Selling cost $6 $40 $10
Computation:
Product 1 Product 2 Product 3
Product Cost $20 $90 $50
N.R.V ($40-$6)=$34 ($120-$40)=$80 ($70-$10)=$60
Per Unit Inventory Value $20 $90 $50
Answer: b. preparing the financial statements
Explanation: As accounting involves recording, classifying, summarizing, and the interpretation financial information, the accounting process, is considered a series of procedures that are employed in the collection, processing, and communication of financial information. In the accounting process, journal entries are first adjusted (identifying and analyzing business transactions and events) after which they are posted. This represents the first and second steps. Then the adjusted trial balance is prepared, followed lastly by the preparation of financial statements. Therefore, the preparation of financial statements is completed last.
The last step in the accounting process among the options provided is b. preparing the financial statements. The process begins with journalizing, leading through posting, and preparing the adjusted trial balance, before culminating in the financial statement's preparation.
The last step in the accounting process among those provided would be b. preparing the financial statements. The accounting process usually follows these steps: Firstly, transactions are d. journalized (recorded in the journal). Next, these journal entries are a. posted to the ledger. Then, an unadjusted trial balance is prepared to check the equality of debits and credits. The next step is adjusting entries and c. preparing the adjusted trial balance. Finally, the accounting period ends with the preparation of the financial statements, reflecting the company's financial health.
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Answer:
PV= $749,269.48
Explanation:
Giving the following information:
Every three years= $1000000
i= 10,1%
The first payment will occur 3 years from today.
We need to find what is the present value of the gift
Using the following formula:
PV= FV/[(1+i)^n)
PV= 1000000/[1,101^3]= $749,269.48
Answer:
Given this change in the cost, the adequacy and quality of the estimated cost drivers and costs used by the system will determine the costing results for SR6 under the new system.
Explanation:
A cost driver can be described as the unit of an activity or any factor that makes the cost of an activity to fluctuate. An estimated cost driver is adequate and of the expected quality when quality or quantity is satisfactory or acceptable.
Therefore, given this change in the cost, the adequacy and quality of the estimated cost drivers and costs used by the system will determine the costing results for SR6 under the new system.
Cannady has transitioned from a traditional to an Activity-Based Costing system, which uses three cost drivers. As a result, the cost of manufacturing SR6 rose from $168 to $178 per unit due to the more accurately distributed costs.
In this context, Cannady's move from a traditional cost system using a single cost driver to an Activity-Based Costing (ABC) system that uses three cost drivers resulted in a change in the unit cost of their SR6 product. The new price reflects a more accurate calculation of the costs incurred in producing SR6.
In a traditional cost system, overhead costs are simply divided by the total number of units produced using one cost driver. With the ABC system, costs are allocated based on the actual activities that consume resources, making the costs more accurate. Therefore, the unit cost of SR6 increased from $168.00 to $178.00 under the new system as the costs were more accurately allocated under the ABC system.
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Breon's gross pay for the week is $273.5
Hourly rate for the company = $6.50
Number of hours in the human resource department = 31 hours
Hourly rate at her regular job = $6.5
hours at the front desk = 9 hours
hours at the front desk = 9 hours
rate at the front desk = $1.50
The gross pay =
$6.5 * 31 + 6.5*9 + 9*1.5
= 273.5 dollars
Breon's gross pay is therefore 273.5 dollars
This is the total amount of money that an employee of a company would receive as payment before their taxes and other deductions are removed.
Read more on gross pay here:
Answer: $104,360
Explanation:
The cash collections for June will be;
= June Cash sales + (50 % *June credit sales ) + (43% * May credit sales) + ( 5% of April credit sales)
= 58,000 + (0.5 * 55,000) + (0.43 * 42,000) + ( 0.05 * 16,000)
= 58,000 + 27,500 + 18,060 + 800
= $104,360
Answer:
$2.82
Explanation:
The CPI is the measure of the average changes in prices of consumer goods and services. The CPI compares current prices and prices at the base year.
CPI is expressed as a percentage. It represents the cost of goods in a given year divided by the cost of goods in the base year multiplied by 100.
In 1970, the movie price was $0.50, and CPI was 38.8%
in 2011, CPI was 218.8%; the movie price will be?
in 1970: $0.50 =38.8%
in 2011: ? = 218.8%
?= 218.8/38.8 x $0.50
?=5.6392 x 0.50
=$2.81896
=$2.82