Answer:
Please see explanation.
Explanation:
Once the factory overhead rate is determined using the estimated amount of factory overhead and estimated base, it is used to charge overhead cost to the jobs, products or work performed.
Since, not all overhead costs are known at the time of making the product, (such as electricity bill is received after the month end) therefore, the estimated rate is used to apply the overhead cost to the job or product using actual activity level. This is called absorption or application of overheads to the products / jobs.
Due to this, at each period end, the management calculates and compares the actual overhead cost with the applied overhead cost and determine the over or under applied overheads.
Answer: D. debit Supplies Expense $4,200; credit Supplies $4,200
Explanation:
Based on the information given in the question, the adjusting entry needed at the end of the period will be to debit Supplies Expense $4,200 and credit Supplies $4,200.
The supplies expenses of $4200 was gotten as:
= $6000 - $1200
= $4800
Therefore, the correct option is D.
.
Answer:
<em><u>-A venture capitalist is more likely to invest in several different projects at once.</u></em>
<em><u>-An angel investor is motivated by personal feeling more than profit</u></em>
Answer:
The correct answer is the option C: A vertically integrated supply chain.
Explanation:
To begin with, a vertically integrated supply chain is the one that the companies choose in order to have a higher management over the whole supply chain and that is because the principal company who uses that strategy is the one who will give the orders and manage the other firms of the supply chain with the purpose of establishing better results by avoinding catastrophic risks that can happen. That is why, a vertically integrated supply chain tends to minimize the risks inside the chain.
Answer:
$1,068,000
Explanation:
The cost of land includes the following costs:
• Purchase price of land
• Attorney fees
• Real estate agent commission
• Title
• Recording fees
• Additional expenses :
o Clearing
o Filling and leveling of land
o Removing of old buildings
To Determine the total cost of the land.
Particulars
Amount ($)
Amount ($)
Purchase price of land
1,000,000
Title insurance
3,000
Back property taxes
9,000
Cost of removing the building
45,000
Less: Salvaged material
(5,000)
1,057,000
Level the land
11,000
Total cost of the land
1,068,000
The property tax incurred is a recurring cost. This will reported as an expense for the current year. All other cost is incurred to acquire the land. Therefore, it must be capitalized. Hence, the total amount that company MF should record as the cost of the land is. $1,068,000
