Answer:
1.1%
Explanation:
Calculation to determine what the probability of the next purchase order having an error is using
an empirical probability
Using this formula
Probability=Purchase orders errors/Purchase orders filled
Let plug in the formula
Probability=1100/100000
Probability=0.011*100
Probability=1.1%
Therefore using an empirical probability the probability of the next purchase order having an error is 1.1%
Answer and Explanation:
The Preparation of income statement for the year ending December 31, 2017 is shown below:-
<u> Oriole Company</u>
<u> Income Statement</u>
<u> For the Year Ended December 31, 2017</u>
Particulars Amount
Service Revenue $86,250
Less:
Expense
Salaries and Wages
Expense $38,640
Rent Expense $14,352
Utilities Expense $4,278
Advertising Expense $2,484
Total Expenses $59,754
Net Income/ (Loss) $26,496
Therefore for determining the net income/loss we simply deduct the total expenses from service revenue.
Answer:
The correct answer is (a)
Explanation:
To better measure fair days’ work of an average worker a clock was designed which had a capacity to measure 1/2000th of a second. The clock was specifically designed to help and measure every second. The lock was invented by Frederick W. Taylor in 1911. Likewise, it helped to measure and analyse synthetic workflows and improve productivity.
Answer:
Explanation:
For recording of the journal entry, first we have to compute the tax payable amount which is shown below:
Pretax accounting income tax expense = pretax accounting income × tax rate
= $210,000 × 40%
= $84,000
Tax payable for taxable income = Taxable income × tax rate
= $155,000 × 40%
= $62,000
Now, the journal entry would be:
Income tax expense A/c Dr $84,000
To Income tax payable $62,000
To Deferred tax liability $22,000
(Being income tax expense recorded)
The remaining amount has come under deferred tax liability.
Answer:
$306,000
Explanation:
To determine manufacturing costs, consider only those cost that can be directly traced to the product manufactured and plant related costs.
<u>Total Manufacturing Cost Calculation :</u>
Factory Utilities $11,400
Indirect Materials $39,500
Direct Materials $166,400
Equipment Depreciation $47,000
Direct labor $91,700
Total Manufacturing Cost $306,000
