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3 years ago

Property taxes on a manufacturing plant should be classified as which type of cost?

Business

1 answer:

olganol [36]3 years ago

5 0

Answer:

Explanation:

Property taxes on a manufacturing plant should be classified as a product cost but not a period cost. This is because product costs refers to the costs that you have to pay in order to continue production. This costs include labor, supplies, utilities, materials and even property taxes to maintain the facility open. While period costs refers to selling various other expenses taken on by administration but does not include property taxes.

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You are planning to save for retirement over the next 25 years. To do this, you will invest $1,000 a month in a stock account an

STALIN [3.7K]

Answer:

Monthly withdraw= $12,452.6

Explanation:

First, we need to calculate the total accumulated at the moment of retirement. We will use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Stock:

Monthly investment= $1,000

Interest rate= 0.09/12= 0.0075

Number of periods= 25*12= 300 months

FV= {1,000*[(1.0075^300) - 1]} / 0.0075

FV= $1,121,121.94

Bond:

Monthly investment= $700

Interest rate= 0.06/12= 0.005

Number of periods= 25*12= 300 months

FV= {700*[(1.005^300) - 1]} / 0.005

FV= 485,095.77

Total FV= 1,121,121.94 + 485,095.77

Total FV= $1,606,217.71

Now, the annual withdrawal:

Interest rate= 0.07/12= 0.005833

Number of months= 12*20= 240

Monthly withdraw= (FV*i) / [1 - (1+i)^(-n)]

Monthly withdraw= (1,606,217.71*0.005833) / [1 - (1.005833^-240)]

Monthly withdraw= $12,452.6

3 0

3 years ago

At the beginning of the year, a company predicts total overhead costs of $690,900. The company applies overhead using machine ho

nignag [31]

Answer:

$9,400

Explanation:

We know,

predetermined overhead rate for machine hour = $\frac{total overhead cost}{total machine hour}$

Given,

Total overhead cost = $690,900

Total machine hours = 1,470

Putting the values into the formula, we can get

predetermined overhead rate for machine hour = $\frac{690,900}{1,470}$

predetermined overhead rate for machine hour = $470

When we use a separate job, the overhead cost will be = predetermined overhead rate × total hours used by the job.

The amount of overhead should be applied to Job 65A if that job uses 20 machine hours during January = 20 hours × $470 = $9,400

6 0

3 years ago

Henry wants to obtain an entry-level accounting position at a major accounting firm. Which educational degree will assist him in

PilotLPTM [1.2K]

Answer:

C. accounting specialization certificate

Explanation:

entry level position start with a short certificate in accounting

6 0

3 years ago

Read 2 more answers

Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business,

ArbitrLikvidat [17]

Answer: (1) journal Total Dr $27,282, Cr $27,282 (2) cash Account Dr: Total $21,823, Cr Balance c /d $19,613 Total $21,823, salary payable Total Dr $381, Cr $381,Account receivable Account Dr :Total $1,929 Cr Total $1,929, salary expense Account Dr Total $ 1,524 Cr: $1,524, common stock Total Dr : $18,270 Cr: Total $18,270, Supplies Account Total Dr : $1,320, Cr $1,320, Account Payable Total Dr :$1,320, Cr :Total $1,320, service revenue Total Dr : $4,771, Total Cr : $4,771, unearned revenue Total Dr :$712, Total Cr :$711, (3) Trial Balance Total Dr $24,767, Total Cr : $24,767

Explanation:

(1) The journal entry for the transaction will be

Apr 1 Dr : Cash $18,270, Cr : common stock $18,270

Apr1 Dr: salary payable$381,Cr: cash $381

Apr 2 No entry required

Apr 3 Dr : supplies $1,320, Cr : Account payable $1,320

Apr 10 Dr Account Receivable $1,929, Cr : service revenue $1,929

Apr 11 Dr cash$ 711,Cr: unearned revenue$ 711

Apr 20 Dr: Cash $2,842, Cr : service revenue $2,842

Apr 30 Dr : $ Account Payable $305 Cr : Cash $305

(2) The T Account will be

Cash Account

Dr common stock $18,270, unearned revenue $711, service revenue $2,842

Cr : salary payable $381, salary expense $1,524, Account payable $305,Bal c/d $19,613 Total Dr $21,823, Cr : $21,823

Salary payable Account

Dr : cash $381,Cr: Balance c/d $381 Total Dr $381,Cr :$381

Account Receivable Account

Dr: service revenue $1,929, Cr: Balance c/d $1,929 Total Dr $1,929, Cr $1,929

Salary expense Account

Dr: salary expense $1,524, Cr Balance c/d $1,524, Total Dr $1,524,Cr $1,524

Common Stock

Dr : Balance c /d $18,270, Cr :Cash $18,270 Total Dr $18,270, Cr $18,270

Supplies Account

Dr: Account payable $1,320, Cr Balance c /d $1,320, Total Dr $1,320, Cr $1,320

Account Payable

Dr: Cash $305,Balance c/d $1,015, Cr supplies $1,320, Total Dr $1,320, Cr $1,320

Service Revenue Account

Dr Balance c /d $4,771 Cr : Account Receivable $1,929, cash $2,842, Total Dr $4,771, Cr $4,771

Unearned Revenue Account

Balance c/d $711, Cr cash $711, Total Dr $711,Cr $711

(3) The trial balance as on 30/04/2017

Dr: Cash $19,613, salary payable $381, supplies $1,320, Account Receivable $1,929, salary expense $1,524 Total $24,767

Cr : Common Stock $18,270, Account Payable $1,015, service revenue $4,771, unearned revenue $711 Total $24,767

6 0

3 years ago

) Studies also find that teenagers have a higher price elasticity than do adults. Why might this be true?

Andru [333]

This statement is true. Teenagers have a higher price elasticity than do adults.

This is because teenagers does not have much income to spend so they can shift to other products also. Teenagers are also not addict to smoking or any other habits , Therefore price affects the demand of the product.

Price elasticity is defined as the ratio of the percentage change in quantity demanded due to percentage change in price.

Elasticity having more than 1 are relatively more elastic.

Adults have more income to spent so the demand do not effects due to change in price. As adults are more addicted to smoking then teenagers ,

addicted people did not consume less due to its price change.

To know more about price elasticity:

brainly.com/question/13565779

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5 0

1 year ago