All categories

3 years ago

Depreciation expense on factory equipment is part of factory overhead cost. A. True B. False

Business

1 answer:

kotegsom [21]3 years ago

6 0

Answer:

True

Explanation:

Factory overhead costs are costs incurred by a firm during production that cannot be traced to a particular product.

They include :

Depreciation expense on factory equipment
Supervisor salary
Electricity
cleaning

You might be interested in

Flint Corporation issued 700 shares of no-par common stock for $7,800. Prepare Flint’s journal entry if (a) the stock has no sta

Masja [62]

Answer:Flint corporation journal $

Date

1. Bank account Dr 7800

Common stock Or. 7800

Narration. Issuance of 700 ordinary stock for $7800 .

2. Bank account Dr 7800

Common stock Cr. 1400

Share premium. 6400

Narration. Issuance of 700 ordinary at $7800 at a premium.

Explanation:

Shares can be issued at par, premium or discount. When it's issued at it's nominal value it's said to be issued at par, when it's issued above it's nominal value it's said to be issued at a premium and when it's issued below par it's said to issued at a discount.

4 0

2 years ago

Read 2 more answers

You would like to know the minimum level of sales that is needed for a project to be accepted based on its net present value.

Andrei [34K]

Answer:

C. financial break-even point.

Explanation:

Break even point in economics is the point in the business, wherein cost and revenue generated are equal and business make no profit, no loss. Similary Financial break even has a same concept, however, it is a point in business, wherein earning before EBIT is equal to the fixed financial cost of the company and these fixed costs should be earned by the company to run its business and meet its fixed financial obligation. The earning above the financial break-even point is a profit to the shareholder.

Point in financial break even, wherein earning per share is equal to zero.

8 0

2 years ago

____ reading will increase your focus and concentration, help you understand the reading, and prepare you to study.

Studentka2010 [4]

Answer:

Active.

Explanation:

Active reading can be defined as a process which typically involves an individual being focused on his or her study. It is aimed at acquiring knowledge and understanding of a particular subject or topic without distractions.

Hence, active reading will increase your focus and concentration, help you understand the reading, and prepare you to study.

5 0

3 years ago

On January 1, Wei company begins the accounting period with a $45,000 credit balance in allowance for doubtful accounts. a. On F

GrogVix [38]

Answer:

The Journal entry and their narrations is shown below:-

Explanation:

1. Allowance for doubtful accounts Dr, $9,800

To Account receivable-Oakley Co. $2,400

To Account receivable-Brookes Co. $7,400

(Being write off is recorded)

2. Account receivable-Oakley Co. Dr, $2,400

To Allowance for doubtful accounts $2,400

(Being amount reinstated is recorded)

3. Cash Dr, $2,400

To Account receivable-Oakley Co. $2,400

(Being cash received is recorded)

7 0

3 years ago

Read 2 more answers

Franklin Templeton has just invested $8,860 for his son (age one). This money will be used for his son’s education 18 years from

luda_lava [24]

Answer:

Future value (FV) = $57,908

Present value (PV) = $8,860

Number of years (n) = 18 years

Interest rate = ?

FV = PV(1 + r)n

$57,908 = $8,860(1 + r)18

<u>$57,908</u> = (1 + r)18

$8,860

6.535891648 = (1 + r)18

18√6.535891648 = 1 + r

1.10993 - 1 = r

r = 0.10992 = 10.99%

Explanation:

In this case, we will apply the future value of a lump sum (single investment) formula. The present value, future value and number of years are given with the exception of interest rate. Thus, interest rate is made the subject of the formula.

8 0

3 years ago