<span>This demonstrates of the principle of competitiveness. Every company wants a 'piece of the pie'. If this street is located in a high traffic area, then Arby's is giving McDonald's and Burger King some good old fashioned competition.</span>
General Mills is most likely using marketing information
system in collecting and storing data. A market information system is being
used in order to support the decision making of the market in which the data is
composed of stored, analyzed and gathered data in which is being distributed to
the managers.
Answer:
c.) 82,000
Explanation:
We know that,
The ending work in progress units = Beginning work in process inventory + Units started in production - Units completed and transferred
7,000 dolls = 4,000 dolls + Units started in production - 79,000 dolls
7,000 dolls = -75,000 dolls + Units started in production
So, Units started in production = 75,000 dolls + 7,000 dolls
= 82,000
Answer:
3. $53,550
Explanation:
Product Cost:
Cost per Unit Cost per Period Direct materials $ 6.60
Direct labor $ 3.85
Variable manufacturing overhead $ 1.50
Fixed manufacturing overhead $ 81,000
Period Costs:
Sales commissions ($0.50 x 9,000 ) $4,500
Variable administrative expense ($0.50 x 9,000 ) $4,500
Fixed selling and administrative expense <u>$44,550</u>
Total Period Cost <u>$53,550</u>
For financial reporting purposes, the total amount of period costs incurred to sell 9,000 units is $53,550.
Answer:Woodmier journal $
1. Date
2021
Warranty expenses Dr 90,000
Warranty liability Cr. 90,000
Narration. Amount of warranty incurred for the year.
2021
Warranty liability Dr 90,000
Bank/Cash. Cr. 90,000
Narration. Payment of warranty expenditures.
2. No entry require
Explanation:
The warranty expenses since is a period of one year can be accounted for at the end of the year without requirements for provision at the beginning of the year. The actual warranty is debited to the income statement and the liability recognized as a creditor until payment.
The discontinuation of the sales of the product in 2021 will not affect the already incurred warranty liability and the account posting thereon in the following years.
