Answer:
Unit product cost = $107
Explanation:
<em>Absorption costing is a method of costing where production units and inventories are value at the full cost per unit. Here, fixed overheads are charged to all units produced using an overhead absorption rate</em>
The full cost per unit = D.mat cost + D.labour cost + Variable overheads+ Fixed overheads
Fixed production overhead cost per unit
=Fixed manufacturing overhead/units produced
= $43,700/ 1,900 Units
=$23 per unit
Full cost per unit
= $42 + $31 + $11 + 23
= $107
Answer: finance charge
Explanation: The True in Lending Act (TILA) of 1968 is a Untied States federal law that was created to promote informed customers credit, certain written disclosure be made known before a transaction be consummate.
The fee john is requested to pay by the TILA disclosure statement is the "finance charge ". Standard bank is give John loan and the transaction will be govern by the TILA.
Answer:
$600,000
Explanation:
The computation of the amount to be recorded for the building is shown below:
But first we have to determine the total acquisition cost of land which is as follows
= Cash + mortgage
= $750,000 + $250,000
= $1,000,000
Now it is mentioned that 60% is allocated to the building
So, it would be
= $1,000,000 × 60%
= $600,000
Answer:
Debit Expenses $90,000; credit Accrued wages and salary $90,000
Explanation:
If we assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. The employees paid from the general fund had earned $90,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30).
The entry, if any, should be made in the city’s general fund on June 30 is to: Debit Expenses $90,000; credit Accrued wages and salary $90,000
The amount has been incurred in the month but has not been paid hence it has to be captured as expenses for the month of June while the double entry will be that the amount is captured as accrued wages signifying that it has not been paid within the period it was incurred
Answer:
The correct answer is letter "C": Materiality.
Explanation:
The Materiality principle refers that one of the accounting standards can be left behind only if it has an irrelevant impact on the financial statements. According to the Generally Accepted Accounting Principles (GAAP) only when an item is "<em>immaterial</em>", provisions for the transaction derived from that item are not mandatory. But, the definition of what is material and immaterial is not provided by the GAAP, then, it relies on the judgment of the accountant.
