FICA includes taxes to pay for

When dissolution occurs in the latter stages of a relationship between two ﬁrms, the loss of investments made in the relationshi

yan [13]

Answer:

The correct answer is letter "A": True.

Explanation:

The dissolution is the first of two steps in the termination of a partnership. It is followed by the "wind up" process where the firm ends to do business. The longer two or more companies hold a partnership, the worse the damages after the dissolution since at latter stages the firms tend to be more engaged in benefits and responsibilities.

7 0

3 years ago

An important assumption that is made when constructing a supply schedule is only price and quantity matter in determining supply

sergey [27]

Answer:

only price and quantity matter in determining supply

all other determinants of supply are held constant

Explanation:

At the time of constructing the supply schedule, only price and quantity should be considered and other factors should remain the same because the factors that impacts the supply other than the price so it shifted the supply curve but when only the price changed so there should be the movement also law of supply represent the direct relationship between tfhe price and the supply

8 0

3 years ago

Calculate the cost of goods sold using the following information: Direct materials $ 298,500 Direct labor 132,000 Factory overhe

Virty [35]

Answer:

COGS= $680500

Explanation:

The cost of goods sold refers to the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in creating the goods along with the direct labor costs used to produce the goods. It excludes indirect expenses, such as distribution costs and sales force costs.

COGS=Beginning Inventory+Production during period−Ending Inventory

We need to calculate the production during the period.

Cost of manufactured period= Beginning work in progress inventory+ direct materials + direct labor + factory overhead - ending work in progress

Cost of manufactured period= 118,500+ 298,500 + 132,000 + 264,000 - 125,900 =$687,100

COGS= 232,100 + 687,100 - 238,700=$680500

5 0

3 years ago

Read 2 more answers

Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginnin

sukhopar [10]

Answer:

$58,850

Explanation:

Opunui Corporation

Molding Finishing Total

Estimated Total machine-hours (MHs) 6,500 3,700 10,200

Estimated Fixed manufacturing overhead cost $ 18,000 $ 5,500 $ 23,50

Estimated variable manufacturing overhead cost per MH $ 1.00 $ 2.00

Job A Job M

Direct materials $ 16,800 $ 10,600

Direct labor cost $ 23,700 $ 10,300

Molding Variable OH 2,500 8,000

Finishing Variable OH 2,500 2,000

Fixed Molding Expenses (2500/ 6,500)*18000

6923.076 11076.92

<u>Fixed Finishing Expenses 3716.216 (2000/3700)* 5,550= 2973</u>

<u>Total Costs 56,139.3 41,977</u>

6 0

3 years ago

The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017 Cash $ 90,695 $ 30,155 Available-

Klio2033 [76]

Answer:

Prepare the Cash flow from Operating Activities Section as follows :

Net income 62,000

Adjustments for Non - Cash Items :

Depreciation - Land, buildings, and equipment 38,000

Adjustment for Working Capital Items :

Increase in Accounts Receivable (12,950)

Increase in Inventory (21,200)

Decrease in Prepaid Insurance 620

Decrease in Accounts payable (73,530)

Decrease in Salaries payable (5,700)

Decrease in Notes payable (51,200)

Net Cash from Operating Activities (63,960)

Explanation:

Note that the question has requested use of indirect method for preparation of cash flows from operating activities.

6 0

3 years ago