Answer:
Manufacturing overhead was over-applied by $15,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $274,000
Explanation:
Under / over applied manufacturing overhead = Applied Manufacturing overhead - Actual Manufacturing overhead
Over-applied manufacturing overhead = $74,000 - $59,000
Over-applied manufacturing overhead = $15,000
Cost of Goods Sold = $289,000 - $15,000 = $274,000
Manufacturing overhead are over-applied by $15,000 and cost of goods sold is $274,000.
A company's triple bottom line represents aspects profit planet, people privacy and production.
<h3>What is production?</h3>
Several material and immaterial inputs are integrated during the production process to produce something that is intended for consumption. It involves creating an output, a good or service that has value and improves the utility of individuals.
Production, in a manufacturing process, is the process of changing raw materials or inputs into finished objects or products. In other words, it describes the process of building something from nothing. A good example of production is the creation of furniture. One instance of production is gathering corn for human consumption. An example of production is the amount of grain produced.
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Answer:
consumer income rises; pizza dough decreases in price
⇒ output increases; price uncertain
- higher consumer income results in higher prices
- but decrease in the price of inputs results in lower prices
- both result in higher output
consumer income falls; pizza dough decreases in price
⇒ price decreases; output uncertain
- both result in lower prices
- falling consumer income result in lower output
- decrease in the price of inputs results in higher output
consumer income falls; cheese increases in price
⇒ output decreases; price uncertain
- both lower output
- falling consumer income decreases price
- increase in price of inputs increases price
consumer income rises; cheese increases in price
⇒ price increases; output uncertain
- both increase price
- rising consumer income increase output
- increase in price of inputs decreases output
Answer:
B) $5,000
Explanation:
Under Section 1014 (a) the basis of any property acquired by a decedent (Lynn) through a gift within 1 year of death and passed back to the donor (Edwin) due to the decedent's death, will be adjusted to the basis immediately prior to the death.
In other words, since Lynn died within 1 year of receiving Edwin's gift, Edwin's basis will be the same as Lynn's basis.
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