Does walmart have wheelchairs for customers to use

Classify each cost of a paper manufacturer as either a product cost or a period cost: Period cost a. Salaries of scientists stu

VikaD [51]

Explanation:

The product cost is the cost that have incurred related to the product. It involves direct material cost, direct labor cost, and the manufacturing overhead account

And, the period cost is the cost which includes the major part of the selling and administrative expenses and is incurred as the time passes

So, the categorization is shown below:

a. Salaries of scientists studying ways to speed forest growth. = Period cost

b. Cost of computer software to track WIP Inventory. = Product cost

c. Cost of electricity at the paper mill. = Product cost

d. Salaries of the company’s top executives. = Period cost

e. Cost of chemicals to treat the paper. = Product cost

f. Cost of TV ads. = Period cost

g. Depreciation on the manufacturing plant. = Product cost

h. Cost to purchase wood pulp.= Product cost

i. Life insurance on the CEO. = Period cost

5 0

3 years ago

What is the difference between a shortage and scarcity? A shortage can be temporary or long-term, but scarcity always exists. A

Alika [10]

Answer:

A shortage can be temporary or long-term, but scarcity always exists.

Explanation:

Scarcity is a basic concept in economics which explains that human wants are unlimited and thus termed insatiable as the resources required to meet those needs are in limited supply.

As such scarcity as a concept has always been in existence and will always b. Shortage on the other hand is a limited supply of an item which may be in the short term or in the long run. While a shortage may be dealt with in time, scarcity will always be in existence.

8 0

4 years ago

The following transactions took place for Parker's Grocery a. Jan. 1 Loaned $46,000 to a cashier of the company and received bac

Fed [463]

Answer:

The journal entries are as follows:

(a) On January 1,

Note receivable A/c Dr. $46,000

To cash $46,000

(To record the note receivable)

(b) On June 30,

Interest receivable A/c Dr. $2,070

To Interest revenue $2,070

(To record the accrued interest on note)

Workings:

Time period: From 1st January to 30th June = 6 months

Interest revenue:

= $46,000 × 9% × (6/12)

= $2,070

(c) On December 31,

Cash A/c Dr. ($2,070 + $2,070) $4,140

To interest receivable $2,070

To interest revenue $2,070

(To record the interest received on note)

(d) On December 31,

Cash A/c Dr. $46,000

To Notes receivable $46,000

(To record the principal received on the note)

8 0

3 years ago

Mcdormand inc reported a 3400 unfavorable price variance for variable overhead and a $34,000 nfavorable price variance for fixed

beks73 [17]

Answer:

A. Variable overhead price variance 3400 U

Variable overhead efficiency variance 60000 F

Variable overhead cost variance 56600 F

B. Fixed overhead price variance 34000 U

Production volume variance 28000 U

Fixed overhead cost variance 62000 U

Explanation:

a. Preparation of a variable overhead analysis.

Variable overhead price variance = 3400 U

Calculation for Variable overhead efficiency variance

First step is to calculate the Actual input at standard rate

Actual input at standard rate = (34100*30)

Actual input at standard rate= 1023000

Second step is to calculate the Standard rate

Standard rate = 1083000/36100

Standard rate=30

Now let calculate Variable overhead efficiency variance

Variable overhead efficiency variance = (1083000-1023000)

Variable overhead efficiency variance = 60000 F

Calculation for Variable overhead cost variance

Variable overhead cost variance = (60000-3400)

Variable overhead cost variance= 56600 F

Therefore the variable overhead analysis will be:

Variable overhead price variance 3400 U

Variable overhead efficiency variance 60000 F

Variable overhead cost variance 56600 F

b. Preparation of a fixed overhead analysis.

Fixed overhead price variance = 34000 U

Calculation for Production volume variances

First step is to calculate Actual input at standard rate

Actual input at standard rate= 34100*30

Actual input at standard rate= 1023000

Second step is to calculate Fixed overhead actual

Fixed overhead actual= 1810400-(1023000+3400)

Fixed overhead actual= 784000

Third step is to calculate Budgeted fixed overhead

Budgeted fixed overhead = (784000-34000)

Budgeted fixed overhead = 750000

Fourth step is to calculate Fixed overhead applied

Fixed overhead applied= (750000/37500)*36100

Fixed overhead applied= 722000

Now let calculate Production volume variance

Production volume variance = (750000-722000) Production volume variance= 28000 U

Calculation to determine Fixed overhead cost variance

Fixed overhead cost variance = (28000+34000) Fixed overhead cost variance= 62000 U

Therefore fixed overhead analysis will be:

Fixed overhead price variance 34000 U

Production volume variance 28000 U

Fixed overhead cost variance 62000 U

3 0

3 years ago

"A small business owner of a firm that has 25 employees wants to establish a retirement plan and make contributions for her empl

fiasKO [112]

Answer:

SEP IRA

Explanation:

For this type of company, the best type of plan would be a SEP IRA. This refers to a Simplified Employee Pension Plan and is a plan that is set up by an employer, with deductible contributions made by the employer themselves. The employer sets the actual contribution rate when creating the plan, and provides all employees the same contribution rate. The annual contribution of such an account is capped at $56,000 in 2019 and the individuals may withdraw the total amount of the account tax-free when they turn 59 1/2 years old.

5 0

3 years ago