Answer:
The correct answer is letter "C": a common set of standards and principles.
Explanation:
The Generally Accepted Accounting Principles (GAAP) are a compilation of <em>official rules, standards, and procedures to be used by publicly traded companies</em> to prepare their financial statements. GAAP standards define how businesses record and report their financial data, and are used in accounting practices to ensure consistency and precision.
The no. of. years will it take for real gdp per capita to reach $64,000 is 28.8 years.
in step with capita gross domestic product (GDP) is a financial metric that breaks down a country's economic output in step with the person and is calculated by way of dividing the GDP of a country through its populace.
GDP per capita is the sum of gross value delivered with the aid of all resident producers in the financial system plus any product taxes (fewer subsidies) not blanketed inside the valuation of output, divided by means of mid-yr population. boom is calculated from consistent charge GDP statistics in local currency.
As an end result, better gdp per capita is frequently associated with wonderful outcomes in a wide range of areas which include higher fitness, more schooling, and even greater existence satisfaction.
72/2.5 = 28.8 years
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Answer:
c. 130% of direct labor cost
Explanation:
Note : Manufacturing overhead is allocated based on direct labor cost in the Trimming Department.
Where,
Budgeted Overheads are $416,000
Total Direct Labor Cost are $320,000
Therefore,
Predetermined Overhead Rate = Budgeted Overheads ÷ Total Direct Labor Cost
= $416,000 ÷ $320,000
= $1.30 or 130 %
The predetermined manufacturing overhead rate for the Trimming Department is 130 %
Answer:
RECEIPT
Explanation:
Receipt is an evidence of making the payment on account of any business transaction. This source document is prepared for showing the proof of giving any cash to the party (who receives the cash) on account of any business transaction.
Answer:
c) $463,000
Explanation:
<u> Goodsell Corporation </u>
<u>FIFO Method </u>
<u></u>
Current Costs
Costs Added $ 427,000
<u>Add Beginning Work in Process Inventory $36,000</u>
<u>Total Current Cost $ 463,000</u>
Cost Transferred Out $ 428,000
<u> Add Ending Work in Process Inventory $35,000</u>
<u>Total Current Cost $ 463,000</u>
FIFO assigns the current period costs to the inventories. Current period costs are obtained by adding the costs transferred out and ending inventories costs or beginning costs and costs added.