A common cost that should not be assigned to a particular product on a segmented income statement is:

Business

1 answer:

Ratling [72]3 years ago

6 0

Answer:

The correct answer to the following question is option B) the salary of the corporation president.

Explanation:

In the given question , all the options except option (B) , would be assigned to a particular product , while segmenting on a income statement. A product advertising cost which a company incurred while promoting the product, the direct material cost which a company while in the production of project and a production managers salary would also be included in the product cost. A corporations president who is in the higher level of management in the company, is responsible for making decisions regarding company's vision , strategy development , public relations etc , his or her salary would not be included in product cost.

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PharmY, Inc., is a U.S. GAAP reporter that is in the pharmaceutical industry. In the current year, PharmY incurred expenditures

Whitepunk [10]

Answer with Explanation:

Tangible assets fall under the scope of International Accounting Standard IAS-36 Property, Plant and Equipment which says that assets that qualify following conditions, must be capitalized:

Assets that have life expectancy of more than a year.
Benefits of the Assets are controlled by the entity that will flow towards the company.

Now here, the life expectancy of laboratory equipment is unknown and also that we don't know if the asset can be resold in the market or not. This means, if the asset has life expectancy is no more than a year and that the future benefits will flow towards the company then it must be capitalized otherwise it must be expensed out as per the guidelines of International Accounting Standard IAS-38 Intangible Assets, which says that the research cost prior to the development expenditure must be expensed out.

The other two costs are revenue expenditure and must be expensed out under the name research and development cost as per the guidelines of IAS-38.

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2 years ago

Brandon grew up working on a farm but went to school to become an accountant. He decides to put all of his knowledge to work.

Angelina_Jolie [31]

Answer:B. Running his own small farm.

Explanation:

Having got the exprience in running a farm, couple with his financial and managerial knowledge from Accounting will help him to be successful.

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3 years ago

A firm estimates its average total cost at 90 units of output to be $15. If the firm can sell all of its output at a market pric

SSSSS [86.1K]

Answer:

435

Explanation:

5(90)=450-15=435

8 0

2 years ago

If you put $700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth i

aksik [14]

<span>To find the compound interest of an investment you have to use this formula, A = P(1 + r/n)^nt, where A is the total amount you have after the investment period, P is the amount you invest or the amount you put in, r is the rate of the of the compound interest in this case 10%, n is the amount of time the interest will be compounded for example, 4 months a year(quarterly) or 6 months a year(semi annually), and t is the amount of time you invest in years. So in this case you are going to substitute everything in the formula with their given value. So P = $700, r = 10%, n = 21 (because it is the number of months we invest for), and t = 2 years (because 21 months fit perfectly in 2 years, and t must always be in years). The resulting formula will be A = $700(1 + 0.1/21)^(21 x 2), which will give you an answer of $855 rounded to the nearest dollar.</span>

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3 years ago

On April 1, Townsley Company sold merchandise with a selling price of $10,000 on account to Trout Company, with terms 3/10, n/30

mamaluj [8]

Answer and Explanation:

The journal entry is shown below:

Cash $8,730

Sales Discount ($9,000 × 3%) $270

To Accounts receivable $9,000 ($10,000 - $1,000)

Here cash and sales discount is debited as it increased the assets and discount while on the other hand the account receivable should be credited as it reduced the assets

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2 years ago