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dezoksy [38]
3 years ago
7

Under Eagle Co.'s job costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual overhead

rate. During February, Eagle's transactions included the following:
Direct materials issued to production $96,000
Indirect materials issued to production 14,000
Manufacturing overhead incurred 131,000
Manufacturing overhead applied 119,000
Direct labor costs 113,000

Eagle had neither beginning nor ending inventory in Work-in-Process Inventory. What was the cost of jobs completed in February? (CPA adapted)

a. 340,000
b. 328,000
Business
1 answer:
Triss [41]3 years ago
7 0

Answer:

b. 328,000

Explanation:

The cost of jobs completed in February.

= DM+ OH applied + DL

$96,000 + $119,000 + $113,000 = = $328,000.

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In the for-profit business world, decisions to spend money must pass a "cost versus benefit" test, but for nonprofit arts organi
Zinaida [17]

The cost versus benefit test will not act as a good factor to measure tangible achievement.      

Explanation:

Most of the Non-profit organization has a focus on welfare activities. The benefits can be influenced only by the subjective fulfillment of benefits. Executive members of all trusts are not able to calculate the benefits attained through welfare operations. Such a parameter system of identifying the beneficiaries' prospects of end-users is known as Intangible achievement.

The tangible achievement always lies in the status of invisible movements of each welfare operations. But each step of inducing the effects of cost versus benefit test does not suit to provide the effective to identify the tangible achievements.  

3 0
3 years ago
On July 3, 2009, Devin purchased 100 shares of CDEF stock at a cost of $30 per share. His commission was $29. He sold his shares
vichka [17]

Answer:

$1,692

Explanation:

Data provided in the question:

Number of shares purchased = 100

Cost of stock = $30 per share

Commission = $29

Selling price per share = $45

Commission for selling = $29

Earned dividends = $2.50 per share

Now,

Total Return

= Number of Shares × (Sale Price - cost + Total dividends) - Total Commissions

or

Total Return = 100 × ($45 - $30 + $2.50) - (2 × $29)

or

Total Return = $1750 - $58

or

Total Return = $1,692

8 0
3 years ago
Interest is eligible to be capitalized as part of an asset's cost, rather than being expensed immediately, when:
Lelu [443]

Answer:

The Asset is a Qualifying Asset.

Explanation:

Qualifying Assets take substantial period of <em>time</em> to get ready for its intended use and purpose and that will require capitalizing interest costs or borrowing cost to the asset.

4 0
3 years ago
Your company expects to receive CAD 1,200,000 in 90 days. The 90 day forward rate for CAD is $0.80 and the current spot rate is
Masteriza [31]

Answer:

Cost of hedging = $24,000

Explanation:

cost of hedging = 1,200,000 * ($0.80 - $0.82) = 1,200,000 * $0.02 = -$24,000

Since the actual forward rate was higher than th eexpected forward rte, the coampny lost money by hedging the operation. The cost of hedging the operation was $24,000.

4 0
2 years ago
Evaluating an advertising campaign is the simplest part of the advertising process because the factors that determine the effect
strojnjashka [21]

It is false that evaluating an advertising campaign is the simplest part of the advertising process because the factors that determine the effectiveness of an ad are limited and clear.

Answer: Option B

<u>Explanation:</u>

To make a product famous that has been manufactured by a company, to make it reach to the consumers and to make them know about it, advertising is one of the most important elements. It focuses on the features, quality, prices etc of the product.

While evaluating the campaign of the advertisement, there are a lot many factors that are to be kept in mind by the company so that the consumers can know about the product.

8 0
3 years ago
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