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A business started 1 April 2014, and incurred the following costs during its first two years.
Year ending 31 March 2014 2015
Direct materials 60,000 49,900
Direct labour 48,000 44,000
Variable overheads 24,000 30,000
Fixed costs 40,000 40,600
Production each year 16,000 14,000
Sales each year 14,000 14,000
Do:
Prepare a statement showing the gross profit for each of the three years if the company used:
The marginal costing approach to valuing inventory;
The absorption costing approach to valuing inventory.
Advantages and disadvantages of using each method
On January 1st, “A” Company sold 50,000 . worth of goods to “B” Company with a sale discount of 5,000 . which result 45,000 . in net. On January 2nd, “B” Company returned 10,000 . worth of the goods, 3,000 . of it were defected goods and the rest of it didn’t comply with “B” Company requirements. What are the required Journal entries to be made in both companies?
Create a table of Production Schedule for Output X with Variable Labor Input using the Marginal Product Form.
What is economics?it's nature ,scope?
Who are the poor, and what are their characteristics?
A worker gets wages (salary) from a capitalist. What function will money play in this case? What functions of money do you know?
Us antitrust laws are too restrictive. Is this a normative or positive economics?
Market equilibrium price of white sugar is Rs. 190.00 per Kg. but government impose a maximum price of Rs. 129.00 per Kg. to easy the living cost of general public. Discuss the impact of this impose on the market and critically evaluate the practicability of achieving the government objective.
Consider an economy with two industries. The information technology industry sells $60 of services to final consumers and $100 to the financial sector, which in turn produces $120 of financial services. How much is the GDP in this economy?
Discuss how changes in demand can change equilibrium price
#340153 on Dec 2023