In a purchases-payables computer system, a purchase order is created after which document has been processed?
Answer: Option A
Explanation: A Departmental Manufacturing cost Report (CPR) indicates all expenses that a division may be paid. Not only is it the origin of detailed journal entries at just the end of this month, but it is also the best effective method to view and dispose of the accrued costs over the month.
A departmental cost report depicts:-
1. Total unit costs out of a previous division moved to it.
2. The division included supplies, staff, and overhead warehouse.
3. The cost per unit of the division included.
4. Average and unit expenses incurred at the bureau's conclusion of activities.
5. Through process inventory levels, the expense of start and finish research.
6. Price moved to a successor division or storage of finished products
Answer:
$69020
Explanation:
Selling price -$54
Incremental selling price =54*(1-0.16)=45.36
Incremental sales - 45.36*7000= 317520
Contribution -
Direct materials = 24*7000 = (168000)
Direct labor = 6*7000 = (42000)
Variable manufacturing = (21000) (3*7000)
Variable selling price = (3500) 2*(1-0.75)
Total contribution = 83020
Additional cost of machine (14,000)
Incremental profit 69,020
Answer:
E) 1, 2, and 3
Explanation:
A partnership is a very flexible business which is very easy to set up but has some disadvantages also and they include:
- partners have unlimited liability.- if losses are expected to continue, then the partners will probably decide to liquidate the partnership.
- risks of disagreements between the partners.- if the partners are incompatible and cannot agree upon the decisions that need to be made, the partnership will probably be liquidated
- if the partners decide to leave because they retire then the partnership will probably have to be liquidated unless a new partner replaces the one that leaves or the other partners buy his/her share of the partnership.
Answer:
Brett's outside tax basis in his LLC interest is $45000
Explanation:
A partner outside tax basis consist of basis of contributed property, partnership debt allocated to the partner without any debt relief. Non recourse debt that is more than basis of contributed property must be given to the partner that contributed to the property.
Brett's outside tax basis in his LLC interest = Cash contribution + basis of building - debt of building + Non recourse loan + non recourse mortgage + remaining mortgage on building
Cash contribution = $5000
Basis of building = $30000
Debt of building = $35000
Non recourse loan = Profit sharing ratio × Non recourse loan = 50% × $50000 = $25000
non recourse mortgage = $5000
remaining mortgage on building = 50% × $30000 = $15000
Brett's outside tax basis in his LLC interest = $5000 + $30000 - $35000 + $25000 + $5000 + $150000 = $45000
