Answer:
$21.67
Explanation:
Exhibit 21-3 is attached with the answer .Please find it.
Total cost of production includes the fixed cost and variable cost. Fixed Cost remains constant as $500 in the exhibit, but the variable cost changes with each production level.
Cost of producing 60 units
Variable cost = $800
Fixed cost = $500
Total cost = $800+500 = $1,300
Product cost per unit = Total cost / numbers of unit = $1,300 / 60 = $21.67
<h2>Direct to the maintenance department</h2>
Explanation:
Jane here works only in the Maintenance department. The work that he does supports both Production as well as Research. We can calculate the expenses, only by associating the department of the employee.
So, the wages should be directly associated to the maintenance department only.
We cannot add one cost to multiple department and it is not the right approach of accounting system. So the below becomes invalid.
<em>Indirect to the production department Direct to the research department Direct to the production department Indirect to the research department</em>
A.exclusive it’s not an intense level of distribution
Answer:
Assets : Cash, Accounts receivable, Equipment
Liabilities : Salaries and wages payable, Accounts payable, Notes payable
Owners Equity : Owner’s capital
Explanation:
Assets are valuable things owned by a business, to which firm's present or future monetary economic benefit can be entitled.
Cash , Account receivables (from debtors who owe money to us) , Equipments are all beneficial ownerships and hence are Assets.
Liabilities are financial burden of the business, the amount business owes to others.
Salaries and wages payable, Accounts payable (from creditors to whom we owe money), Notes payable are all financial obligations to be fulfilled by business - so are liabilities of business.
Owners Equity are the assets of business which have been bought in by the Entrepreneur as 'Capital' in the firm.
Answer:
D. $ 3 million or more
Explanation:
Since the minimum materiality amount on individual basis is $3 million for client's income statement.
Therefore, whether it is on individually or collectively identified that there is misstatement of at least $3 Million the auditor will consider it material.
They will notify appropriate authorities regarding the misstatement.
