21. It is referred to as a portion of the value of all of the products that a salesperson sells. ___________ 22. A type of commission that workers earn their pay from commission.

Q: How is total cost of goods sold and the total amount billed to customers calculated?

A: A job cost sheet is a sheet which is used to record the manufacturing costs .

Q: 4. If a worker is paid based in proportion to the quantity of work he/she finishes. It is called. *…

A: Piece rate is the system in which the employee is paid for the work they complete irrespective of…

Q: How you get the gross profit and cost of goods sold

A: Gross Profit -Gross Profit is a Profit earned by the entity from the customer. It is the profit…

Q: Revenue minus all direct costing of making the goods or supplying the service is known as? a. Gross…

A: All the direct costs to make the goods constitutes the cost of goods sold.

Q: The ________ is the hourly price charged to clients for professional labor. salary rate billing rate…

A: Professional labour is that labour which provides professional services to another person for a…

Q: How much is total cost of goods manufactured? * A company uses job order costing. At the beginning…

A: Cost of beginning WIP = (P4,000 + P1,400) + (P2,000 + P600) + (P3,000 + P900) = P11,900…

Q: Required: 1. Estimate ending Inventory for 2022 using the conventional retall method. Note: Amounts…

A: Retail inventory method is used by retailers to find the estimated ending inventory balance. This…

Q: Which of the following is considered a fixed cost? a) rent expense b) marketing costs record…

A: The manufacturing company has undergone many costs. The process of the product will resulted in to…

Q: What accounts in the income statement are used to determine labor cost per man hour? Wages would be…

A: Labor costs include wages, salaries, benefits, and any additional expenses incurred by the employer,…

Q: Wages paid to laborers working in the manufacturing department is treated as an expense of?…

A: Wages: It can be defined as the amount that is paid to the laborers as remuneration for the work…

Q: Value added tax i

A: It is pertinent to value-added tax is calculated on the value addition made at each point in a…

Q: Why is it important to fully understand the cost associated with each item you sell or each service…

A: Cost defines as the total expenditure incurred in the making of any finished product and the total…

Q: The dollar amount paid by a retailer to acquire a product from a wholesaler is known as the…

A: Goods Purchase Cost: The cost of the products that were bought is the same as the merchandise's net…

Q: 17. Cost of goods sold: A. Is another term for merchandise sales. B. Is the term used for the cost…

A: Cost of goods sold is the total cost of units sold during the period. It is the difference between…

Q: Revenue from sales of the by-product can be listed in the income statement as: a. additional cost…

A: Revenue from sale of by product is shown in the income statement as an additional sales revenue…

Q: Tote bags are sold through agents who are paid a commission on each bag sold. For financial…

A: Period costs: Period costs are the costs other than the product costs. These costs are not incurred…

Q: Purchase Inventpry/Purchase Return /Shortage Cost/unit Total 1800 Date Balance In inventory Cost of…

A: Gross Profit - Gross Profit is calculated by deducting the cost of goods sold from sales. It is the…

Q: Which of the following would not be considered a component of the "cost" of Goods Sold? a.…

A: Introduction: Cost of goods sold: It is a income statement item. All direct costs which are directly…

Q: 1. is the basic pay in an employee's compensation package wherein the amount of money the employee…

A: As per our guidelines we are supposed to answer only 4 parts maximum. kindly ask remaining parts as…

Q: in a merchandising business gross profit is equal to the sales revenue minus (a) the sum of cost of…

A: Income statement is a financial statement that shows profitability, total revenue and total…

Q: Salaries and commissions of company salesperson * Product Cost Period Cost

A: Introduction: Product cost: Cost which is directly related to manufacturing of a product called as…

Q: Which is wrong?    The term creditable input VAT means input VAT deductible from output VAT.…

A: Input tax is utilised against payment of output tax liability.  Input tax will be credited for the…

Q: 9. It is a fee that a business pays to a salesperson (agent) in exchange for his services in either…

A: A business usually hires salespersons to make their products available or to recommend their…

Q: 1. How much is the raw materials used in production? 2. How much is the total manufacturing cost? 3.…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: The labor received the income from daily basis its Select one: a. Rent b. Wages c. Non-Wages d.…

A: Wages means the payment made to temporary worker who are generally working in factory.