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3 years ago

Which of these scenarios involves commodity money?

2 answers:

4 0

Money is a kind of asset in an economy that is castoff to purchase goods and amenities from other people. A commodity is a physical thing that is willingly substitutable with one more item of the same type. Commodity money is a commodity that has intrinsic value. Intrinsic value is the commodity has worth though it is not used as money. So the answer is a woman offers her neighbor a US silver dollar in exchange for a bicycle.

Reptile [31]3 years ago

4 0

A commodity is a physical thing that is willingly substitute with one more item of the same type.

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The Tax Cuts and Jobs Act passed in December of 2017 dramatically increased the amount of money that is exempted or excluded whe

Serga [27]

Answer:

Option D. Portability Rule

Explanation:

The Portability rule says that if the estate tax exemption was not fully utilized at the time of the other spouse's death then the rule allows the surviving spouse to use the remainder unused estate tax exemption if left unused. So basically this rule gives the person maximum chance to obtain the benefit of utilization of estate tax exemptions.

8 0

3 years ago

Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month

kkurt [141]

Answer:

$114 unfavorable

Explanation:

For computing the overall variable overhead efficiency variance first we have to need to find out the standard variable overhead rate which is shown below:

= ($11,680 + $41,900) ÷ 4,700 hours

= $11.4

Now the variable overhead efficiency variance is

= standard variable overhead rate × (Actual machine hours - standard machine hours)

= $11.4 × (4,740 machine hours - 4,730 machine hours)

= $114 unfavorable

This unfavorable indicates the actual hours are more than the standard hours

6 0

3 years ago

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the nec

liberstina [14]

Answer:

(A)

The total relevant cost would be: 495,000

Buy 15,000 x 35 = 525,000

It would be better to keep producing.

(B) relevant cost 495,000

Buy 525,000 - 150,000 = 375,000

In this scenario is better to buy the procuct, as this alternative will come with the 525,000 cost but 150,000 contribution margin in the new product

Explanation:

The relevant cost would be:

Direct Materials 14

Direct labor 10

Variable Overhead 3

traceable fixed overhead 6

Total 33

15,000 x 33 = 495,000

The depreciation is a sunk cost, already incurred when the machine was purchased. Is not relevant to decide wether to produce or buy

The potencial new product would be opportunity cost:

It should be considered as a decrease in the cost of buy the product

7 0

3 years ago

Blair Biotech enters into a licensing agreement with Pang Pharmaceutical for a drug under development. Blair will receive a paym

Snowcat [4.5K]

Explanation:

a. The transaction price of the arrangement is $10,000,000

c. The journal entries are as follows:

On December 20, 2017

Accounts Receivable A/c Dr $10,000,000

To License revenue A/c $10,000,000

(Being the revenue is recorded)

On January 15, 2018

Cash A/c Dr $10,000,000

To Accounts Receivable A/c $10,000,000

(Being the payment received is recorded)

7 0

3 years ago

Bank Reconciliation The accountant for Bellows Corp. was preparing a bank reconciliation as of April 30. The following items wer

Scilla [17]

Answer:

$27,911

Explanation:

Bellows Corp.

Bank reconciliation

As of April 30

Unadjusted book balance $28,750

Less:

Outstanding checks $900

NSF Checks $373

Add:

Interest earned $74

Error correction $360

Adjusted book balance $27,911

3 0

3 years ago