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3 years ago

Kraft, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2018:

Business

1 answer:

brilliants [131]3 years ago

6 0

Answer:

c) $465,000

Explanation:

The amount of pension expense reported for 2018 can be calculated using only the relevant data in the question as follows:

Pension expenses = Service cost + (Beginning of year Projected benefit obligation × 10%) - (Beginning of year fair value of plan assets × 10%)

Therefore, we have:

Pension expenses = $ 345,000 + ($3,600,000 × 10%) - ($2,400,000 × 10%) = $465,000

Therefore, the amount of pension expense reported for 2018 is $465,000.

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the cost object(s) of the activity-based costing method is(are): Multiple Choice The unit of product. The production departments

Agata [3.3K]

Answer: d. The production activities in the first stage and the unit of product in the second stage

Explanation:

Activity based Costing is primarily a method of assigning indirect costs like administrative expenses to the goods and services manufactured by a company by basing it on the activities of the company.

With Activity Based Costing, the company aims to figure out how much these aforementioned activities cost first and then calculating the cost per unit in the second stage by assigning cost per level of activity.

7 0

3 years ago

Jackson Co. began the year with $20,000 in inventory. During the year, the company purchased $80,000 worth of inventory. At the

Irina-Kira [14]

Answer:

The total cost of goods sold = $70,000

Explanation:

Given:

Initial inventory at the start of the year for Jackson Co. = $20,000

Total cost of purchases made during the year = $80,000

Inventory remaining at the end of the year = $30,000

Solution:

Total inventory for Jackson Co. during the year = $\$20,000+\$80000= \$100,000$

Inventory remaining at the end of the year = $30,000

The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.

Thus, cost of goods sold can be given as :

⇒ $\$100,000-\$30,000$

⇒ $\$70,000$

The total cost of goods sold = $70,000

8 0

3 years ago

The basic goal in dealing with the problem of scarcity is

Fiesta28 [93]

Scarcity is to not have enough resources to fullfil a societies wants and needs. The 3 basic questions a society must ask inorder to deal with this are. what to produce? how to produce? and, for whom to produce? whoever answers those questions is how I societies economic system is decided. Though to answer your question in short, the basic goal of a society is to deal with scarcity, they achieve this by producing as much resources as possible with the little resources available.

6 0

3 years ago

Need help fast!!!!!!!! :(

Margaret [11]

Answer: Compound interest pays interest on the principal and the interest earned in each period.

Explanation:edge 2020

6 0

3 years ago

Cabot Company reported a pretax operating loss of $50,000 for financial reporting and tax purposes in 2018. The enacted tax rate

Nady [450]

Answer and Explanation:

Net Operating loss carryback Amount Rate of Tax Tax Recorded as

Carried back - 2014 $0.0 30% $0.0

Carried back - 2015 $0.0 30% $0.0

Carried back - 2016 $42,000 35% $14,700.0

Carried back - 2017 $8,000.0 40% $3,200.0

Total Carryback $50,000.0 $17,900.0

Journal Entries - Cabot Company

Date Particulars Debit Credit

31-Dec-18 Receivables - Income Tax Refund $17,900

To Income tax benefit - Net Operating Loss $17,900

2. Cabot's net loss for 2018 = -$50,000 + $17,900

= ($32,100)

5 0

3 years ago