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1 year ago

Opportunity costs at a manufacturing company are not part of manufacturing overhead. True or false?.

Business

1 answer:

Bess [88]1 year ago

6 0

It is true that Opportunity costs at a manufacturing company are not part of manufacturing overhead.

<h3>What is Opportunity costs ?</h3>

Opportunity costs can be described as the term that represent the potential benefits which individual, investor, misses out in the process of choosing one alternative over another.

Because opportunity costs are unseen can be easily overlooked, therefore, in this case, It is true that Opportunity costs at a manufacturing company are not part of manufacturing overhead.

Learn more on Opportunity costs at:

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Answer:

c. public accountant

Explanation:

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Answer:

b. July

Explanation:

According to the revenue recognition principle, the revenue has to be recognised in the period the services are provided.

In the question, the services were provided in July, so the revenue needs to be recognised in July,

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3 years ago

Flounder Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,000, a

Anna35 [415]

Answer:

Through straight line method

In year 2020 =3100

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Through double declining method

In year 2020=6600

In year 2021= 5280

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in year 2020=4544

in year 2021=3366

Explanation:

Through straight line method

Formula is (Cost-salvage)/Useful years

So,

Cost of good is $33000

Salvage amount is $2000

Number of useful years 10

Putting the values

(33000-2000)/10

3100

As, this is straight line method, depreciation for the next year (2021) would also remain same. 3100

Through double declining method

Formula is 2* depreciation rate

so, 2* 1/10

double declining rate is 1/5

So, 33000*1/5= 6600

6600 for 2020

Next year (2021),

Now we would subtract the amount of 6600 (already depreciated) from the 33000.

So, 33000-6600= 26400

Applying the rate, 26400*1/5 = 5280

So, next year 5280

Through activity based

we depreciate the truck according to its usage

So, in first year it was used 13800 miles. Maximum it can be used for 100,000 miles

First year 13800/100000= 13.8% used

we depreciate then 33000*13.8%= 4554

So, in 2020 4554

Next year (2021)

It was driven 10200 which is 10200/100000= 10.2%*33000

So, 0.102*33000= 3366

In 2021, depreciation of machine according to the activity based system was 3366

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