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dangina [55]
3 years ago
5

Which of the following is not true of depreciation accounting?

Business
1 answer:
tekilochka [14]3 years ago
6 0

Answer:

B. Depreciation allocates replacement values as part of the matching of revenues and expenses.

Explanation:

Depreciation allocates replacement values as part of the matching of revenues and expenses is not entirely true about depreciation accounting.

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True or false. An income statement provides investors with a report of a firm’s profitability over a specific period of time.
Tpy6a [65]

false is the answer.

6 0
3 years ago
) In April of 2019, Mike acquired a machine for $30,000 to use in his business. It is the only plant asset he purchased this yea
yan [13]

Answer:

Option $6,000

Explanation:

Data provided in the question:

Cost of the machine acquired = $30,000

Classified useful life = 5 years property

Now,

The MARCS rate for 5 years property, the depreciation rate is 20%

Therefore,

The depreciation for the year 2019 will  be

= 20% of the Cost of the machine acquired

= 0.20 × $30,000

= $6,000

Hence,

Option $6,000

7 0
3 years ago
Klumper Corporation is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the
Reika [66]

Answer:

Instructions are below.

Explanation:

<u>We were provided with the activity rates. To calculate the total cost, first, we need to allocate overhead to both product lines:</u>

<u></u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Product K425:

Allocated MOH= (6*80) + (4*100) + (50*1) + (90*1) + (14*1) + (9*80)

Allocated MOH= $1,754

Product M67:

Allocated MOH= (6*500) + (4*1,500) + (50*4) + (90*4) + (14*10) + (9*500)

Allocated MOH= $14,200

<u>Now, we can calculate the unitary cost:</u>

Product K425:

Unitary cost= 13 + 5.6 + (1,754/200)

Unitary cost= $27.37

Product M67:

Unitary cost= 56 + 3.5 + (14,200/2,000)

Unitary cost= $66.6

7 0
3 years ago
The basic laws of forecasting help to avoid misapplication or misrepresentation of forecast results.
Zigmanuir [339]

Answer:

Law 2

Explanation:

In probability. As bigger the group we are trying to predict , the higher probability to be more accurate

8 0
3 years ago
In October, Glazier Inc. reports 42,000 actual direct labor hours, and it incurs $194,000 of manufacturing overhead costs. Stand
Olin [163]

Answer:

$18,000 F

Explanation:

Actual overhead– Overhead Budgeted=

Overhead Controllable Variance

Actual overhead=$194,000

Overhead Budgeted=$212,000

$194,000–$212,000

=$18,000 F

(40,000 ×$3.80) + $60,000

=$152,000+$60,000

= $212,000

Therefore the manufacturing overhead controllable variance is $18,000 F

3 0
2 years ago
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