Chapter 4, Problem 4.5AP

What should be reported as variable expenses in the cvp income statement on these general accounting question?

General Accounting

4 PTS

What were the liabilities at December 31 ?

Trendy T's Corporation manufactures t-shirts, which is its only product. The standards for t-shirts are as follows: Standard direct materials cost per yard $ 9 Standard direct materials quantity per t-shirt (yards) 2 During the month of May, the company produced 1,550 t-shirts. Related production data for the month follows: Actual yards of direct material purchased Actual direct materials total cost 1,200 $ 20,800 What is the direct materials quantity variance for the month? A. $17,100 favorable B. $10,000 favorable C. $17,100 unfavorable D. $10,000 unfavorable

What were the liabilities at December 31 ? General accounting

Answer this Financial Accounting Problem

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What is the nominal cost of trade credit if the terms are 4/10, net 45 assuming that customers forego the discount and pay on the 45th day? (365 in year)