Answer:
Explanation:
The journal entries are shown below:
On July 1
Prepaid insurance A/c Dr $9,400
To Cash A/c $9,400
(Being the prepaid insurance for cash is recorded)
On December 31
Insurance expense A/c Dr $2,350
To Prepaid insurance A/c $2,350
(Being the insurance expense is recorded)
The computation is shown below:
= Prepaid insurance amount ÷ number of years × number of months ÷ total number of months in a year
= $9,400 ÷ 2 years × 6 months ÷ 12 months
= $2,350
Answer: Four pies.
Explanation:
Marginal cost is the additional cost of producing one extra unit of a good or service.
From this graph we see the marginal cost rise when the first pie is produced and then it subsequently decreases as the second and third pie is produced which is where it reaches its lowest point.
From the fourth pie, the marginal cost begins to rise again which means the marginal cost begins to increase when the producer makes four pies.
Answer:
For the wooden handicrafts products, it is regulated by the animal and plant health inspection service (APHIS) in the United ...
Answer:
b.sales
Explanation:
As we know that
Income statement refers to the statement in which the revenues and the expenses incurred should be recorded
While on the other hand the multiple-step income statement refer to the statement in which there are various level like gross profit, total operating expenses etc
Plus we also know that
Gross profit = Sales - cost of goods sold
Therefore the cost of merchandise should be deducted from sales so that we can find out the gross profit
Answer:
check the calculations below.
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Explanation:
a) current margin = Sale price - Cost
= $42 - $28 = $14 per unit
(b) Selling price if margin is 49%
= Cost / (1-0.49)
= 28 / 0.51
= $55
Profit = 55*49% = 227
(c) Price to consumer = Selling price / (1-0.1)
= 55/ 0.9
= $61.1
(d) Price to Consumer = Selling price from Chengg + Margin
= 61 + 10 = $71
