#1 goal-setting #2 decision-making
Answer:
Sound Audio
Yes. This loss should be accrued.
Explanation:
Accruing the loss contingency gives the readers of the financial statements an early warning of the probable existence of a future loss. A loss contingency arises from a probable future event, which gives rise to an adverse outcome from a lawsuit. Since the cost of the loss can be reasonably estimated and the product recall is virtually certain, it is prudent for Sound Audio to provide for this loss in its December 2021 financial statements.
Answer:
$2.58 per machine hour
Explanation:
The computation of the fabrication activity cost pool activity rate is
= ($461,000 × 15%) + ($123,000 × 15%) + ($207,000 × 20%) ÷ 50,000 machine hours
= ($69,150 + $18,450 + $41,400) ÷ 50,000 machine hours
= $2.58 per machine hour
Answer:
the cash outflow for expenses is $106,000
Explanation:
The computation of the cash outflow for expenses is shown below:
Beginning balance $46,000
add; expenses $125,000
less; ending balance -$65,000
Cash outflow for expenses $106,000
Hence, the cash outflow for expenses is $106,000
It's C. I just took it and it definitely is C
