Answer:
The correct answer is letter "B": Identification of cost pools, identification of cost drivers, calculation of pool rates, assignment of cost to products.
Explanation:
Activity-Based Costing or ABC is a managerial accounting method that assigns certain indirect costs to the products incurring the bulk of those costs. ABC is primarily used in the manufacturing sector to make a better calculation of the true cost of production per unit. For that purpose, ABC follows this sequence:
1) Identification of the activities for the creation of the product
2) Divide the activities into cost pools
3) Assign each cost pool to a cost driver
4) Calculation of the cost driver rates
5) Assignment of cost to products
Answer:
Aldo Leopold
Explanation:
Aldo Leopold (1887 - 1948) was a founder of wildlife management. He taught at the University of Wisconsin and is famous for his book <u>A Sand County Almanac</u>, 1949, which sold over 2 million copies.
His work focused on the development of environmental ethics and wilderness conservation.
Answer:
Explanation:
Base on the scenario been described in the question we can calculate the following
1. Calculation of Employee’s FICA withholding for social security tax rate is 6.20%. Attachment 1 below
2.Calculation of Employee’s FICA withh... Attachment 2 below
Answer:
The correct answer is letter "C": Mortgage payments.
Explanation:
Net Operating Income or NOI reflects income after operating expenses deducted but before income taxes and interest are deducted. If the result is a positive value it is called <em>Net Operating Income</em>. If the figure is negative, it is referred to as <em>Net Operating Loss</em>.
Net operating income is often used to calculate real estate income, such as residential properties or commercial properties. <em>NOI is calculated by determining the Gross Operating Income (Gross potential income minus vacancy and credit loss) and subtracting the operating expenses (maintenance, fees, and insurance).
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Thus, <em>mortgage payments are not considered in the calculation of the NOI.</em>
Answer:
Accounting treatment (debit credit rules) of given entries
Explanation:
- Purchased office furniture on account Account
Furniture ie Asset increase - Debit , Creditor (Furniture Supplier) ie Liability increase - Credit
- Provided services on account
Debtor ie Asset increase - Debit , Sale ie Income increase - Credit
Prepaid Expense (Rent) ie Asset Increase - Debit. Rent paid now implies later rent ie (Expense) decrease - Credit
