B. number of times preferred dividends are earned
Answer:
Option C is the correct answer.
<u>Debit Depletion Expense $1,358,500; credit Accumulated Depletion $1,358,500.</u>
Explanation:
Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access the deposit, which is estimated to contain 2,000,000 tons and is expected to take 5 years to extract. Compute the depletion expense for the first year assuming 418,000 tons were mined.
Depletion expense = ( Mineral Deposit Cost + Additional cost)/ Estimate Extraction * N0 of ton extracted in first year
Depletion expense = (5900000 + 600000)/2000000 * 418000
Depletion expense = $ 1,358,500
Answer:
The answer is c. operating (master) budget.
Explanation:
Let re-visit to the definition of operating budget to justify why c. operating budget is the answer.
Operating budget is the budget for revenues and expenses for the future period, that is, it forecast how many level of activities and how much they will cost for income generating purpose in the forecast period.
As described in the question, the forecasting items falls among the expenses budgeting. Thus, c. operating (master) budget is the correct answer.
Answer:
D) social cost
Explanation:
Social costs are the total costs beared by the entire society. Social costs includes all the private production costs plus all the externalities.
Marginal social costs are the marginal costs beared by the entire society, and it includes all the private marginal production costs and the marginal costs of externalities.
Answer:
$792,960
Explanation:
Data provided
Number of pods = 23,600
Direct labor hours = 3
Direct Labor Rate per hour = $11.20
The computation of Budgeted direct labor costs is shown below:-
Budgeted Direct labor Cost = Number of pods × Direct Labor Hours required per pod × Direct Labor Rate per hour
Budgeted Direct labor Cost = 23,600 × 3 × $11.20
= $792,960
