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lakkis [162]
3 years ago
6

Crank Co. is a software developer that has accumulated costs related to developing a software application for internal use. The

development is past the preliminary project stage and into the application development stage. Which section of the Accounting Standard Codification best helps Crank's controller determine the proper accounting treatment of the application development stage costs? Enter your response in the answer fields below. Guidance on correctly structuring your response appears above and below the answer fields. Unless specifically requested, your response should not cite implementation guidance.
Business
1 answer:
lawyer [7]3 years ago
7 0

Answer:

Trial balance

Explanation:

I think the best Accounting Standard Codification that will help Crank's controller determine the proper accounting treatment of the application development stage costs is the trial balance.

It will help them to know the amount they have spent so far on the development of the software.

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Rus_ich [418]

Answer:

Unitary cost= $12.30

Explanation:

Giving the following information:

Overhead rate:

Rate 1= 150% of material costs

Rate 2= $7.25 per direct labor hour.

Production:

540 neckties

raw materials= $2,110

Direct labor hours= 69 direct labor hours at a total cost of $865.

First, we need to calculate the total cost:

Total cost= 2,110 + 865 + (1.5*2,110 + 7.25*69)

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3 years ago
Merv Grazinski, driving his Winnebago, put it on cruise control to go make coffee. The Winnebago went off the road, turned over
Mars2501 [29]

Answer:

B). Contributory negligence

Explanation:

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7 0
3 years ago
You have an opportunity to invest in Australia at an interest rate of 8%. Moreover, you expect the Australian dollar (A$) to app
earnstyle [38]

Answer:

10.16%

Explanation:

The computation of the effective return for this investment is shown below:

Let us assume that we invested an amount in Australian dollars 100

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After one year, the amount is 108

Now the converting amount is 110.16 (108 × 102%)

Now the effective rate for this investment is

= 110.16 - 100

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7 0
4 years ago
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