Variable costing prepares the income statement using the traditional format. Question content area bottom Part 1 True False

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Answer 1

It is a false statement that variable costing prepares the income statement using the traditional format because it is for allocation of production costs.

What is variable costing?

Variable costing refers to an accounting method that is used to allocate production costs to product being produced.

This method of costing allocates all variable-manufacturing costs to the product during the period.

Furthermore, a variable costing assigns only variable costs to the products.

In conclusion, it is a false statement that variable costing prepares the income statement using the traditional format because it is for allocation of production costs.

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Related Questions

HELPP! In 2011 the United States economy had a GDP of $14,991 billion according to the United Nations. If consumption was $10,729 billion, government spending was $2,594 billion, and net exports was -$568 billion, how much was investment spending?

Answers

The total amount of the investment spending is $2,236 billion.

What is an investment spending?

An investment spending means the private domestic investment or capital expenditures.

The formula for Investment spending is I = GDP − C − G − NX.

Investment spending = $14,991 billion - $10,729 billion - $2,594 billion - (-$568 billion)

Investment spending = $14,991 billion - $10,729 billion - $2,594 billion + $568 billion

Investment spending = $2,236 billion.

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An increase in government purchases will increase aggregate demand because:.

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Answer:

Explanation below.

Explanation:

Think of it like this:

Consumption + Investment + Government Spending + Net Exports = AD

When Government spending goes up, it is increasing AD within (C+I+G+X), so AD shifts right.

Revenue and expenditures are sitting on a balance at the same level. This diagram shows a government’s budget. Which of the following words can best be applied to this budget? unbalanced balanced deficit surplus.

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The government’s budget is balanced when the Revenue and expenditures are sitting on a balance at the same level. Option B is correct.

What is government budget?

A government budget is a document created by the government or the other political institution that outlines anticipated tax revenues and proposed expenditure for the new financial year.

The budget is introduced to the legislature in most parliamentary systems, and it typically involves authorization.

Provided that the box dimensions symbolize the lengths of a state's revenues and expenditures, and that the two sizes are equivalent, the budget is called the balanced budget, as Revenue=Expenditure.

If in the second condition, if the two sizes are not equivalent then the budget would be called as the unbalanced budget, and then deficit will occur if the expenditure > revenue and the Surplus will make if revenue > expenditure.

Therefore, option B is correct.

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Answer: B

Explanation: takin test now

How can a market be segmented using demographics?

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Here is a Answer to your question:

Demographic segmentation divides the market into smaller categories based on demographic factors, such as age, gender, and income. Instead of reaching an entire market, a brand uses this method to focus resources into a defined group within that market.

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All companies operate in a broad ______-environment that is made up of six components, including political factors and technological factors. Multiple choice question. micro meso para macro

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Answer:

The word that is underlined, that's the answer; Macro

Explanation:

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Answer:

the answer is macro .

Explanation:

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Select all that apply Which of the following budgets are directly based on information from the sales budget? Multiple select question. Direct materials budget Production budget Direct labor budget Selling and administrative expense budget

Answers

The budgets that are directly based on information from the sales budget include:

Production budget.Selling and administrative expense budget.

What is a sales budget?

It should be noted that a sales budget simply means a financial plan that estimates the revenue for a particular period.

In this case, the production budget and selling and administrative expense budget are based on sales budget.

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The ________ is the member of the buying center whose primary function is handling the details of the transaction.

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The buyer is the member of the buying center whose primary function is handling the details of the transaction.

Please select the word from the list that best fits the definition Enjoy music in their free time

Answers

Answer:

Auditory Learners

Explanation:

I got it right on edge 2022.

Brown, the president and director of a corporation engaged in owning and operating a chain of motels, was advised, upon what seemed to be good authority, that a superhighway was to be constructed through the town of X, which would be a most desirable location for a motel. Brown presented these facts to the board of directors of the motel corporation and recommended that the corporation build a motel in the town of X at the location described. The board of directors agreed, and the new motel was constructed. The superhighway plans were changed, however, after the motel was constructed, and the highway was never built. Later, a packinghouse was built on property adjoining the motel, and the corporation sustained a considerable loss as a result. The shareholders brought an appropriate action against Brown, charging that his proposal had caused a substantial loss to the corporation and seeking recovery of that loss from Brown. What result

Answers

An officer or director of a corporation is not personally liable for loss sustained by the corporation as the result of the exercise of poor or mistaken business judgement. They are only liable for a loss resulting from his or her negligence of failure to exercise reasonable care. In this situation, Brown was exercising a business judgement in good faith with due care. Since a superhighway was to be constructed through the town of X, he believed it was in the corporation's best interest to build a motel there. Brown was not guilty of negligence, so the decision would be in favor of Brown.

Wages are defined as ______. a) financial rewards based on the number of hours the employee works or the level of output achieved b) a form of compensation whereby a percentage of company profits is distributed to the employees whose work helped to generate them monetary rewards offered by companies for exceptional c) performance as incentives to further increase productivity an incentive system that pays a fixed amount or a percentage of the employee's sales

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After every service rendered, there is a payment for it. when it is hourly, it is termed wages, when it is monthly, then, it is called salary.

Wages are defined as ______. a) financial rewards based on the number of hours the employee works or the level of output achieved

Wages

Wages a payment usually of money for labor or services usually according to a contract and on an hourly, daily, or piecework basis.

Therefore, the it refers to rewards based on the number of hours the employee works or the level of output achieved.

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Why do monopolies and oligopolies benefit producers over consumers?.

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Answer:

Few Producers can generally control prices.

Explanation:

Monopolies and Oligopolies are structures where few generally control things. I also got the question right :)

A coupon bond that pays interest semi-annually is selling at par value of $1,000, matures in seven years and has a coupon rate of 8.6%. The yield to maturity on this bond is

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Based on the selling price of the bond and the coupon rate, the yield to maturity on the bond is 8.6%.

What is the yield to maturity on this bond?

When a bond is selling at par, it means that the coupon rate and the yield to maturity are the same.

The bond in question is selling at its par price of $1,000 which means that the coupon rate of 8.6% is the same as the yield to maturity.

In conclusion, the YTM is 8.6%.

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Please answer it is due in a hour please help

I will sure mark you as brainliest

Answers

Answer:

1.costs that do not change when sales or production volumes increase or decrease

2.Variable costs are costs that change as the quantity of the good or service that a business produces changes.

3.the level of production at which the costs of production equal the revenues for a product

Answer:

1) Fixed costs are costs that do not change when sales or production volumes increase or decrease.

2) A variable cost is a corporate expense that changes in proportion to how much a company produces or sells.

3) The breakeven point is the level of production at which the costs of production equal the revenues for a product.

Which settlement option pay a stated amount to an annuitant but no residual value to a beneficiary

Answers

Answer:

Life income

Explanation:

Describe two major perspectives on the role information systems play in supply chain management activities.

Answers

Answer:

Information management systems have the potential to change organizations and promote the emergence of new businesses. Their main goal is to enhance information flow and facilitate the decision making process. An information management system is one of the few elements of supply chain that can offer both improved performance and lower cost.

Who among the following is most likely to believe that groups and organizations are generally characterized by superficiality and depthlessness in social relationships because employee interactions with customers are largely scripted and customer behavior and responses are often tried-and-tested ways of dealing with employees

Answers

The postmodernist tends to believe that groups, as well as organizations, are generally characterized by superficiality and depthlessness in social relationships.

What is postmodernism?

Postmodernism is an intellectual viewpoint or form of communication characterized by the skepticism of what it views to be modernism's grand narratives and philosophies, as well as resistance to cognitive certainty and meaningful stability. 

In a business environment, postmodernist believes in the economic power of governing groups and organizations while considering the superficiality and depthlessness of their social relationship with customers.

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Hideki just received his latest bank statement. To make sure it is correct, he
should:
A. call the bank to ask for help.
B. call his creditors to check accuracy of payments.
C. reconcile his statement with his own record.
D. withdraw funds to make sure his account is active.

Answers

Answer:

call the bank to ask for help

The net income reported on the income statement for the current year was $210,000. Depreciation recorded on equipment and a building amount to $62,500 for the year. Balances of the current asset and current liabilities accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $56,000 $59,500 Accounts receivable (net) 71,000 73,400 Inventories 140,000 126,500 Prepaid expenses 7,800 8,400 Accounts payable (merchandise creditors) 62,600 66,400 Salaries payable 9,000 8,250 Required: Question Content Area a. Prepare the cash flows from operating activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Answers

The Cash Flow from Operating Activities 258,950 using the indirect method.

What is Cash Flow from Operating Activities?

The total cash flow generated by a business from its ordinary business operation is known as operating cash flow. It shows if the company is able to generate enough cash inflow to sustain its operation.

The cash flows from operating activities section of the statement of cash flows, using the indirect method is shown below:

                    Particulars                           Amount ($)

               Cash flows from operating activities:

               Net income                                           210,000

Add: Depreciation expense                           62,500

Add: Decrease in accounts receivable           2,400

Less: Increase in inventory                           13,500

Add: Decrease in prepaid expenses            600

Less: Decrease in accounts payable            3,800

Add: Increase in salaries payable                    750

Net cash flow from operating activities           258,950

Hence, Cash Flow from Operating Activities 258,950

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One of the "7 determinants of productivity, income, and wealth" is "seemingly unrelated market condition," which refers to the recognition that differences in income or wealth across individuals could result from differences in:.

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The differences in income or wealth across individuals could result from differences in A) income depends in part upon economic conditions beyond our control; a worker's value ...

What are the sources of income?

The different income sources include:

WorkingProducing a product or serviceInvesting capitalEarning pensions and other government programsSelling goods or services above the cost of production.

Answer Options:

A) income depends in part upon economic conditions beyond our control; a worker's value depends greatly upon the price of the product he helps produce (e.g., a wage of a coal miner would increase if we ran out of oil)

2) the natural talents that people are endowed with at birth

3) the skills and experiences that people acquire through education, training, and work

4) how hard individuals choose to work

Thus, the differences in income or wealth across individuals could result from differences in Option A.

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According to the authors of A Gift of Fire, it is obvious that computer technology ___________ mass unemployment.

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Answer:

According to the authors of A Gift of Fire, it is obvious that computer technology has not and will not mass unemployment.

According to this credit report, how many accounts has lillie had sent to collections? a. 0 b. 1 c. 2 d. 3

Answers

From the credit report the number of accounts that Lille has sent collections is 0. This is because she has sent not sent any to an account.

What is a credit report?

This is a report of how a persons credit activity is. It also tells about the financial standing of a person and how they are faring in terms of finance.

The credit report contains the history of the loan payments that are made by the individual.

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Knowing the slope of activities allows project managers to compare which ____ activities to shorten.

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Answer:

Knowing the slope of activities allows project managers to compare which Critical activities to shorten

One difference between products and services is demonstrated by a hair salon, where the stylist delivers the service at the same time the customer receives it. This is called

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Inseparability is the difference between products and services as demonstrated by a hair salon, where the stylist delivers the service at the same time the customer receives it.

What is services marketing?

Service marketing is a strategy which promotes and showcases the intangible benefits and offerings delivered by a company to drive end. It is a marketing based on relationship and value.

In service Marketing, a service or an intangible commodity is promoted and marketed among the target audience.

Hence, Inseparability is the difference between products and services as demonstrated by a hair salon, where the stylist delivers the service at the same time the customer receives it.

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The level of aggregate supply in the long run is not affected by.

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Answer:

Long run aggregate supply (LRAS) is a theoretical concept and refers to the output that an economy can produce when using all its factors of production, and hence when operating at full employment. Graphically, it is a vertical curve indicating that, in the long run, output is not affected by changes in the price level.

The upward-sloping portion of the long-run average cost curve is a result of:.

Answers

Answer:

average cost is increasing

Explanation:

What percent of adults, nationally, were current on all credit payments in the last year?




Your friend sees your answer to #1 and assumes that each of those people has a high credit score. Why is your friend incorrect?




How does your state’s on-time payment record compare to the national rate?




Find your county within your state. How does your county’s rate compare to your state’s rate of on-time payment?




If you look at the state shading on the map, it seems on-time payment rates are somewhat clumped geographically. What might cause that “clumping?”




Based on prior learning, name two reasons that paying your credit card or loan bill late has serious consequences.

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The percentage of adults, nationally, that were current on all credit payments in the last year is 78.5% .

Your friend is incorrect in assuming that all will have high credit scores. because base on the fact that a lot young adults have no credit experience.  They are said to often have a high balance on too many credit card.

The state’s on-time payment record compare to the national rate is known to be Texas who are said to have an on-time payment record of 6.7% that is known to be lower than the national rate.

Miral county’s payment rate is 80%, 10% higher than the state of Texas.

The “clumping may be due to the types of jobs that are available to certain states.

The reasons our credit card or loan bill paid late?

The  reasons why our credit card or loan bill late said to be late is known to have a lot of serious effects if not managed. It can lead to:

Credit score reduction drastically, that can affect your credit report badly.It can also  affect the types of opportunities, etc. that one can get through the credit bureau.

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For which holiday is the most candy purchased in the united states?.

Answers

Easter has the most can’t purchased

Answer:

i think it is halloween.

Explanation:

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Use the drop-down menu to complete each statement. based on the information in the passage, it is most likely that joe lives in a economy. the building that joe is interested in purchasing would be considered .

Answers

Based on the given information, Joe lives in the mixed economy, and he is interested in purchasing the private building.

What is mixed economy?

A mixed economy is the system that combines the system of both the economy, means the combination of capitalism and socialism, is called the mixed economy.

This system defends private property and allows a degree of  freedom in economy in the use of capital.

But it also permits for governments to interpose in economic activities in order to accomplish social intents.

Therefore, in the above case, Joe lives in the mixed economy, and purchasing the private property.

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Answer:

Mixed economy and Private Property

Explanation:

I just got it right on the assignment :)

Which of the following statements about electronic résumés is false? a. directions for submitting electronic résumés should be followed carefully. b. many companies only use electronically submitted or emailed résumés. c. electronic résumés should be typed in a standard word processing program. d. electronic résumés should be saved in html format. please select the best answer from the choices provided a b c d

Answers

An electronic resume is one that is sent to a potential employer via email. An electronic résumé is used to apply for employment online.

What makes an effective electronic resume?

On an electronic resume might be provided in a distinct keyword section or integrated into the text. All text should be positioned to the left and in a plain typeface. Underlining, bolding, italics, and bullets should be avoided since they can cause problems with older OCR software.

Thus, Option D would be the false statement about electronic resumes.

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Answer:D

Explanation:Electronic résumés should be saved in HTML format. 

The receipts section of the cash budget lists ______. Multiple choice question. all cash inflows, except from financing total sales for the period all cash inflows total credit sales

Answers

The receipts section of the cash budget lists B. all cash inflows.

What is a cash budget?

A cash budget is a document prepared in advance to show the planned monthly cash inflows (receipts) and cash outflows (payments).

Preparing the cash budget helps management to manage cash outflows with its cash inflows and make other cash decisions.

Thus, the receipts section of the cash budget lists B. all cash inflows and not credit sales.

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