A person must have contractual capacity to be an agent. a. True b. False

Montana Industries has computed the following unit costs for the year just ended: Variable manufacturing overhead $85 Fixed manu

katovenus [111]

Answer:

Variable, $85; absorption, $105.

Explanation:

Variable costing $85

Absorption costing $105=(85+20)

3 0

3 years ago

A firm has 3 customer orders, each for 12,000lbs of coal. It is $15.75 per 100 lbs to ship directly to each customer (including

Ede4ka [16]

Answer:

Yes, firm should consolidate shipment as it give saving of $990.

Explanation:

Given: Three customer order 12000 lbs of coal each.

Cost of individual shipment is $15.75 per 100 lbs

Cost of consolidated shipment is $10.50 per 100 lbs with $300 fees.

Now, lets find out cost for all 3 customer in both the shipment.

Cost of individual shipment= $\frac{12000}{100} \times 15.75 = 120\times 15.75$

= $1890

Next, cost for all three customer´shipment is $1890\times 3= \$ 5670$

∴ Cost of shipment for three customer through individual shipment is $5670

Cost of consolidated shipment:

$\frac{12000}{100} \times 10.50= 120\times 10.50 = \$ 1260$

Next, cost for all three customer with the $300 fee= $3\times ( 1260+300)= \$ 4680$

∴ Cost of shipment for three customer through consolidated shipments is $4680

Saving with consolidated shipment = $5670-4680= \$ 990$

Now, we can say it is profitable for firm to consolidate shipment as it give saving of $990.

5 0

4 years ago

Chicago Investors, Inc. is interested in preserving a certified historic structure in downtown Chicago in 2019. The building wil

zloy xaker [14]

Answer:

correct answer is a. $4,045,400

Explanation:

given data

building cost = $2,000,000

Rehabilitation cost = $2,500,000

discount rate = 5%

factor = 3.546

solution

we get here after-tax cost after claiming the Rehabilitation

so first we get here total cost that is = $2,000,000 + $2,500,000

total cost = $4,500,000

and here tax saving by credit will be

tax saving by credit = $2,500,000 × 20%

here 20% credit is allow for qualify expenditure that is made to rehabilitate

tax saving by credit = $500,000

and here credit spread for 5 year it mean $100,000 per year

so here Current year credit is = $100,000

and Present value of credit for the years 2-5 = $100,000 × annuity factor

= $100,000 × 3.546 = $354,600

so here Present value of credit will be = $354,600 + $100,000

Present value of credit = $454,600

and

After tax cost of credit will be as

After tax cost of credit = $4,500,000 - $454,600

After tax cost of credit = $4,045,400

8 0

3 years ago

The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on

Wittaler [7]

Answer:

Required 1.

J1

Raw Materials $210,000 (debit)

Accounts Payable $210,000 (credit)

J2

Work In Process : Direct Materials $151,200 (debit)

Work In Process : Indirect Materials $37,800 (debit)

Raw Materials $189,000 (credit)

J3

Work In Process : Direct Labor $50,000 (debit)

Work In Process : Indirect Labor $22,000 (debit)

Salaries and Wages Payable $72,000 (credit)

J4

Work In Process : Depreciation $106,000 (debit)

Accumulated Depreciation $106,000 (credit)

J5

Overheads $130,000 (credit)

Cash $130,000 (debit)

J6

Work In Process $686,700 (debit)

Overheads $686,700 (credit)

J7

Finished Goods $514,000 (debit)

Work In Process $514,000 (credit)

J8

Cost of Goods Sold $450,000 (debit)

Finished Goods $450,000 (credit)

J9

Accounts Receivables $612,000 (debit)

Sales Revenue $612,000 (credit)

Required 2.

Manufacturing Overhead T - Account

Debit

Indirect Materials $37,800

Indirect Labor $22,000

Depreciation $106,000

Other Overheads $130,000

Over-applied (balancing figure) $390,900

Totals $686,700

Credit

Work In Process $686,700

Totals $686,700

Work in Process T - Account

Debit

Opening Balance $36,000

Direct Materials $151,200

Direct Labor $50,000

Overheads $686,700

Totals $923,900

Credit

Finished Goods $450,000

Closing Balance (Balancing figure) $473,900

Totals $923,900

Explanation:

Manufacturing costs accumulate in the Work In Process Account.

Note that only applied overheads are included in Work In Process Account.

Cost of Finished Goods are removed from Work In Process Account and recognized in the Finished Goods Account

5 0

3 years ago

You learn that the Volonian government has canceled the trade licenses of several firms in the e-learning market in the past due

Mama L [17]

Answer:

The measures is to get the Government in developing and shaping of contents of the e-learning software.

Explanation:

By getting the Government agent(s) or authority in the development and shaping of contents of the software, you are not only creating harmony with the local government but also ensuring that the agent helps scrutinizing the content of the software and also ensuring that the software does not contain any content that is objectionable to the government and this measure will definitely help Gerlach Publishing acquire a trade license.

7 0

3 years ago