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Lelu [443]
2 years ago
9

Accounting assessment q15/15 assigning indirect costs to specific jobs is completed by _____.assigning indirect costs to specifi

c jobs is completed by _____. applying a predetermined overhead rateapplying a predetermined overhead rate using the manufacturing cost incurredusing the manufacturing cost incurred allocating to manufacturing overhead accountallocating to manufacturing overhead account applying indirect costs to work in process
Business
1 answer:
borishaifa [10]2 years ago
5 0

Assigning indirect costs to specific jobs is completed by D. applying indirect costs to work in process.

<h3>What are indirect costs?</h3>

Indirect costs are costs that are not directly traceable to cost objects (e.g. a job, product, or service unit).

Indirect costs are overheads incurred as a result of a business activity but without direct impact.  For example, utilities, office supplies, etc. are all indirect costs.

Thus, assigning indirect costs to specific jobs is completed by D. applying indirect costs to work in process.

Learn more about indirect costs at brainly.com/question/24762880

#SPJ1

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A partnership agreement provides that, at sale, cash proceeds are distributed first to Ms. Jones in an amount equal to her origi
Anvisha [2.4K]

Answer:

$800,000

Explanation:

The total amount received by Ms. Jones (A) is given by the following expression:

A = I-D + (S-(I-D))*0.6

Where 'I' is Ms. Jones initial investment, 'D' are cash distributions previously received and 'S' is the cash flow from sales.

The amount received by Ms. Jones is:

A = 600,000-100,000 + (1,000,000-(600,000-100,000))*0.6\\A= 800,000

She would receive $800,000.

8 0
3 years ago
Bodacious Corporation produced 100 units of Product AA. The total standard and actual costs for materials and direct labor for t
Novay_Z [31]

Answer:

Labor Rate Variance:

= Actual direct labor hours × (per actual direct labor hour price - per Standard direct labor hour price)

= 368 × (16.50 - 15)

= $552 U

Labor Efficiency Variance:

= Per Standard direct labor hour price × (Actual direct labor hours - Standard direct labor hours)

= 15 × (368 - 400)

= $480 F

The journal entry to record labor variances is:

Work in process A/c       Dr. $6000

Labor rate variance A/c   Dr. $552

To Labor efficiency variance                $480

To Payroll                                               $6,072

(To record labor variances)

3 0
3 years ago
Flannigan Company manufactures and sells a single product that sells for $650 per unit; variable costs are $338. Annual fixed co
kkurt [141]

Answer:

The contribution margin ratio is 0.48

Explanation:

The contribution margin ratio is calculated by using following formula:

Contribution margin ratio = (Sales - Total Variable cost)/Sales

Flannigan Company has current sales volume of $4,320,000

The number of products are sold = $4,320,000/$650

Total Variable cost = The number of products are sold x variable costs per unit = $4,320,000/$650 x $338 = $2,246,400

Contribution margin ratio = ($4,320,000 - $2,246,400)/$4,320,000 = 0.48

5 0
4 years ago
Bittner Company borrows $88,500 on November 1, from Harrington State Bank by signing an $88,500, 12%, 18-month note. How much in
N76 [4]

Answer: the correct answer is $1,770

Explanation: Interest is calculated by multiplying the principal times the time period the note is redeemable. It is important to bear in mind that all interest are annual unless it is stated differently. This note renders 12 % annually. At December 31 two months of interests are payable and must be recognized as interest expense. Having said that the calculation is as follows:

December 31 : $88,500 * 12% *(2/12)  = $1,770

6 0
3 years ago
On April 24 of the current year, The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory.
Andreas93 [3]

Answer:

The amount of inventory destroyed in the tornado is $105,700

Explanation:

We know that,

Beginning inventory + purchase of inventory + Gross profit = Sales + ending inventory

$228,350 + $199,400 + $322,050 = $644,100 + ending inventory

$749,800  = $644,100 + ending inventory

So, the ending inventory equals to

= $749,800  - $644,100

= $105,700

The gross profit equals to

= Gross profit percentage × sales

= 50% × $644,100

= $322,050

The inventory is destroyed so we assume the ending inventory is destroyed which equal to $105,700

4 0
3 years ago
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