Answer:
Unit of account
Explanation:
Money serves three functions :
1. Unit of account : money serves the function of determining the value of a good or service. It is usually assumed that goods that are more highly priced are more valuable that goods that have lower prices
2. Medium of exchange : goods and services can be exchanged for money. For example, if I want to buy a gallon of gasoline and pay 4 seashells, money has served as a medium of exchange.
3. store of value: money can be saved, retrieved and exchanged sometimes in the future
Answer:
$555,750
Explanation:
First we need to calculate the units produced in the month of August.
We know that the opening inventory of finished goods is equal to 40% of that month's sale.
- The Opening inventory of August will be: 11100 * 0.4 = 4440
- Units produced in august relating to August sales will be 11100 - 4440 = 6660
- Units produced in August relating to September's sales will be 12600 * 0.4 = 5040
- Total units produced in August = 6660 + 5040 = 11700 units
- labour hours required for August = 11700 * 2.5 = 29250 direct labor hours
- So, Direct labor Cost = 29250 * 19 = 555750
Answer:
The correct option will be a. Late Payment Fee
Explanation:
A late payment fee also know as late charge is a charged to a borrower who misses paying at the stipulated payment date based on the agreement. For you to avoid paying that fees, ensure that you pay at least the minimum amount by the due date. So among all fees stated, all are charges made by the bank, but the late charge fee is not included until u failed to make payment on time, while others are fixed charges put in place by the banks.
Answer:
UNIT COST $32
Explanation:
the absorption costing system is the sum of expenses applicable to purchases and charges directly or indirectly incurred to produce a good or service.
This model considers both fixed and variable costs. Which translates into a higher unit cost.
in these case unit cost = 6+10+6+6+2+2 = 32
+Direct materials $6
+Direct labor $10
+Fixed manufacturing overhead $6,000 / 1000 units= $6
+Variable manufacturing overhead $6
+Fixed operating expenses (selling, general, and administrative) $2,000
/ 1000 units=$2
Variable operating expenses (selling, general, and administrative $2