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Oxana [17]
3 years ago
9

Which of the following statements about renting and owning is correct

Business
2 answers:
il63 [147K]3 years ago
8 0

<u>d. is the correct option. </u>

<u>Both renter and owner has responsibilityfor renting and owning. </u>

<u> </u>

Further explanation:

Renting and owning:

Renting is paying someone for their property or land for the use of their land or house or anything. And owning is having something of our own or the ownership of any asset or land, property or anything.  

Justification for the correct and incorrect answer:

a. Renter complete responsibility and control over the property:This option is incorrect.

This statement is not true as owner has the control over the property and renter is not all alone have the control and the responsibility for the property. The renter and the owner possess equal control and responsibility for the property.

b. An owner has complete responsibility and control over property:This option is incorrect.

The statement says that an owner has complete responsibility and control over the property which is not correct as the owner and renter both have the responsibility and the control over the property.

c. Neither a renter or owner has responsibility: This option is incorrect.

The statement says that neither therenter or the owner has responsibility which is absolutely incorrect as both the owner and the renter have the responsibility for the property.

d. Both renter and owner has responsibility: This option is correct.

The statement says that both renter and the owner have the responsibility for the property is correct as renter and owner both possess equal rights over the property.

<u>Thus, the renter and the owner possess equal rights for the property. Renter and owner both are responsible for the property. </u>

<u> </u>

Learn more:

1. Learn more about choosing the purchase of car or leasing

<u>brainly.com/question/2731676 </u>

2. Learn more about choosing the purchase of the car

<u>brainly.com/question/1258129 </u>

3. Learn more about renting and owning

<u>brainly.com/question/2288011 </u>

<u> </u>

Answer details:

Grade: High School

Subject: Business studies

Chapter: Renting and owning

Keywords: which of the following, statements about renting and owning is correct,renter complete responsibility and control over the property, an owner has complete responsibility and control over property, neither a renter or owner has responsibility, both renter and owner has responsibility, control, posses.

kow [346]3 years ago
4 0
Hi,

The question asks w<span>hich of the following statements about renting and owning is correct:

</span><span>a. renter complete responsibility and control over the property
b. an owner has complete responsibility and control over property
c. neither a renter or owner has responsibility
d. both renter and owner has responsibility 

a. and c. are definitely incorrect, b. is not entirely correct.

The correct, true option is option d. </span>Both the renter and the owner share responsibility and control over the property. 


Faith xoxo



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1. Unit cost using direct labor hours to apply overhead:

Unit Cost

Model A $167.985

Model B $226.99

2. Unit cost using the four activity drivers:

Unit Cost

Model A $133.97  

Model B $287.28

3. Activity-based costing method always produces the more accurate cost assignment.

Explanation:

a) Data and Calculations:

Activity                    Expected Cost      Activity Driver    Activity Capacity

Setting up equipment   $548,080       Number of setups          680

Ordering costs                 313,200        Number of orders     17,400

Machine costs                 939,400        Machine hours         42,700

Receiving                         343,000        Receiving hours         9,800

Total overhead costs $2,142,680

Activity Rates:

Setting up equipment   $806 per setup ($548,080/680)

Ordering costs              $18 per order ($313,200/17,400)

Machine costs              $22 per machine hour ($939,400/42,700)

Receiving                     $35 per receiving hour ($343,000/9,800)

                                    Model A            Model B

Direct materials        $600,000          $800,000

Direct labor               $480,000          $480,000

Overhead applied  $1,063,500        $1,018,200

Total costs              $2,143,500      $2,298,200

Units completed            16,000               8,000

Cost per unit                $133.97         $287.275

Direct labor hours          6,000               2,000

Number of setups             400                  200

Number of orders          6,000             12,000

Machine hours             24,000             18,000

Receiving hours             3,000               7,000

The company's normal activity is 8,000 direct labor hours.

Assignment of overhead costs:

                                        Model A                               Model B

Number of setups         $322,500 (400 * $806)    $161,200 (200 * $806)

Number of orders            108,000 (6,000 * $18)      216,000 (12,000 * $18)

Machine hours                528,000 (24,000 * $22)  396,000 (18,000 * $22)

Receiving hours               105,000 (3,000 * $35)    245,000 (7,000 * $35)

Total overhead applied $1,063,500                    $1,018,200

Overhead based on direct labor hours:

Total overhead costs = $2,143,680

Total direct labor hours = 8,000 (6,000 + 2,000)

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Direct labor hours          6,000                            2,000

Overhead (DLH) $1,607,760 ($267.96 *6,000) $535,920 ($267.96  * 2,000)

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Direct materials        $600,000          $800,000

Direct labor               $480,000          $480,000

Overhead applied  $1,607,760          $535,920

Total costs             $2,687,760        $1,815,920

Units completed           16,000                8,000

Cost per unit            $167.985            $226.99

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