All categories

2 years ago

Select the false statement from the following.

Business

1 answer:

lesantik [10]2 years ago

7 0

Answer: Option C.

General,selling and administrative cost cannot be assigned to a cost object.

Explanation:

General, selling and adminstrative cost is the total of both direct and indirect selling cost, administrative cost and all general cost of the organisation. This cost include all the non production cost that they company incured at a specific time bond i.e cost to sell, cost to deliver product and services, rent, cost to manage the company, marketing expenses, salaries, accounting, bonuses e.t.c.

It is not assigned to a cost object because it is general ,cost of selling, and administrative cost.

You might be interested in

The mickey and mouse cat food factory runs an aggressive marketing campaign and much to the? delight, orders surge to twice thei

Setler79 [48]

The impact on the order of the quantity will be able to get a 40% higher. It is because if the mickey and mouse cat food factory runs the marketing campaign to the delight order surge twice to their previous level and their operation manager uses the EOQ or the Economic Order Quantity, it is able to minimize the ordering cost and the total of the holding costs, producing an order quantity of 40% higher.

7 0

3 years ago

Jamarcus, a full-time student, earned $3,700 this year from a summer job. He had no other income this year and will have zero fe

eimsori [14]

Answer:

C. Jamarcus is not required to file an income tax return because his gross income of $3,700 is well below the gross income threshold for a single taxpayer. However, he should file a taxreturn to receive a refund of the $481 previously withheld.

Explanation:

since Jamarcus income is %3700 and is below the gross income threshold for a single taxpayer so he should file a tax return to receive a refund of $481.

4 0

3 years ago

Consider an economy with a corn producer, some consumers, and a government. In a given year, the corn producer grows 30 million

lys-0071 [83]

Answer:

a. GDP using product approach

There are no intermediate goods inputs. Corn producer grows 30 million bushels of corn and each bushel of corn worth is $5.

GDP = 30 million * $5

GDP = $150 million

GDP using expenditure approach

i) Consumers buy 20 million bushels of corn

Consumption = 20 million * 5

Consumption (C) = $100 million

ii) Corn producer adds 5 million bushels to inventory

Investment = 5 million * $5

Investment (I) = $25 million

iii) Government buys 5 million bushels of corn

Government spending = 5 million * $5

Government spending (G) = $25 million

GDP = C + I + G

GDP = $100 + $25 + $25

GDP = $150 million

GDP using income approach

Profit income = $150 million - $60 million - $20 million

Profit income = $70 million

Government income = Taxes paid by the corn producer = $20 million

GDP = $60 million + $70 million + $20 million

GDP = $150 million

b. Private disposable income = GDP + Net factor payments + Government transfers + Interest on the government debt - Total taxes

Private disposable income = $150 million + 0 + $5 million + $10 million - $30 million

Private disposable income = $135 million

Private savings = Private disposable income - Consumption

Private savings = $135 million - $100 million

Private savings = $35 million

Government savings = Government tax income - Transfer payments - Interest on the government debt - Government spending

Government savings = $30 million - $5 million - $10 million - $5 million

Government savings = $10 million

National savings = Private savings + Government savings

National savings = $35 million + $10 million

National savings = $45 million

Government budget surplus = Government savings = $10 million

Government deficit = (-) $10 million

8 0

3 years ago

A company is struggling to finish the required accounting work for its financial year-end. The employees are unwilling to stay l

MissTica

That would be E job completion paying extra to stay and get the work done is job completion.

7 0

3 years ago

Read 2 more answers

Blossom Company purchased a new machine on October 1, 2017, at a cost of $66,000. The company estimated that the machine has a s

Ugo [173]

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $66,000

Salvage value= $5,700

Useful life= 6

First, we need to calculate the annual depreciation using the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (66,000 - 5,700) / 6= 10,050

2017:

Annual depreciation= (10,050/12)*3= $2,512.5

2018:

Annual depreciation= $10,050

8 0

3 years ago