Answer:
$9.2
0
Explanation:
The calculation of the Finishing Department is shown below:-
Plant - wide overhead rate = Total overhead ÷ Total machine hour
= ($470,000 + $737,900) ÷ ($470,000 + 133,950)
Plant wide overhead rate = $2 per machine hour
Machine hour for product = 4.2 + 0.4
= $4.6 machine hour
Applied overhead = Machine hour for product × Plant wide overhead rate
= $4.6 × $2
= $9.2
0
The supply of the product tend to be more inelastic when the prices of the goods are high. Supply inelasticity is caused by the sudden change of the price of goods needed to release the supply and more often than not, that change of price is a price hike; meaning, the increase of price reasonable or not.
Answer:
The Journal entries are as follows:
(i) On August 1,
Cash A/c Dr. $6,500
photography equipment A/c Dr. $33,500
To common stock $40,000
(To record the issuance of common stock for cash and photography equipment)
(ii) On August 2,
Prepaid insurance A/c Dr. $2,100
To cash $2,100
(To record the cash paid in advance for insurance)
(iii) On August 5,
Office supplies A/c Dr. $880
To cash $880
(To record the cash paid for office supplies)
(iv) On August 20,
Cash A/c Dr. $3,331
To photography fees earned $3,331
(To record the photography fees earned)
(v) On August 31,
Utilities A/c Dr. $675
To cash A/c $675
(To record the cash paid for utilities)
Answer:
Break-even point in units= 1,500
Explanation:
Giving the following information:
Selling price= $600
Unitary variable cost= $420
Fixed cost= $270,000
<u>To calculate the break-even point in units, we need to use the following formula:</u>
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 270,000 / (600 - 420)
Break-even point in units= 1,500
Answer:
Specific performance
Explanation:
Based on the information provided within the question it can be said that in this scenario the order that Wally should seek is known as Specific performance. This is a court order which forces the breaching party to perform the agreed upon act, and by doing so complete the agreed upon specifications set forth by the contract. Failure to do so will find the individual in contempt of court.