<span>When using the ice-point method of calibration, you should immerse the thermometer in ice water for at least 5 minutes, which allows the reading to stabilize. After this amount of time has elapsed, the thermometer should be adjusted to read 32 degrees F (0 degrees C), if it was not already displaying this value.</span>
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Receiving provides 12,000 receiving hours and costs $60,000 per year.
Estimated manufacturing overhead rate= 60,000/12,000= $5 per hour
The devision agrees a transfer price between themselves. This price may not reflect opportunity cost by producing and selling products. Reflects bargaining prowess of individual mangers.
Answer:
a. Unearned Revenue; b. Accrued Revenue; c. Accrued Expense; d. Prepaid Expense
Explanation:
Prepaid Expenses : Expenses paid before due
Unearned Revenue : Revenue earned before due i.e Advance Income
Accrued Revenue : Revenue earned i.e due , but not received
Accrued Expense : Expense due but not paid i.e Outstanding Expense
a. Cash received for use of land next month = Unearned Revenue or Advance Income
b. Fees earned but not received in cash = Accrued Revenue / Accrued Income
c. Wages owed but not yet paid = Accrued Expense / Outstanding Expense
d. Supplies on Hand = Prepaid Expense
Answer:
Tax is a statutory obligation to pay an amount to the state or other public body, which is imposed on a person or company on the basis of their activities, without a direct connection to consideration from the payee. The main purpose is usually to finance the public sector. The tax can also have other purposes, such as equalizing income or influencing people's actions with the help of financial incentives.
