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3 years ago

Which of the following is incorrect when performing overhead work?

1 answer:

7 0

Store materials in buildings under construction farther than 6 feet or hoist way/ floor openings and more than 10 feet from an exterior wall

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Two individuals who were previously sole proprietors form a partnership. Property other than cash that is part of the initial in

UNO [17]

Answer:

D) Property's fair value at the date of the investment.

Explanation:

When new business is formed from closing the old one, all assets are recorded at fair value.

Thus, all the assets other than cash shall be recorded at their respective fair values in the new business which is a partnership, as the cost or historical value will not display their proportional contributions properly.

Therefore, correct statement is

D) Property's fair value at the date of the investment.

7 0

3 years ago

Lindsey Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A

natita [175]

Answer:

Results are below.

Explanation:

First, we need to calculate the activities rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Activity 1= 24,000 / 1,000= $24 per activity unit

Activity 2= 36,900 / 900= $41 per activity unit

Activity 3= 63,000 / 1,800= $35 per activity unit

Now, we can allocate costs to product A:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Activity 1= 24*200= $4,800

Activity 2= 41*750= $30,750

Activity 3= 35*1,000= $35,000

Total allocated costs= $70,550

Finally, the unitary cost:

Unitary cost= 70,550 / 5,000= $14.11

3 0

3 years ago

Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine produ

ioda

Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine production and pricing decision is the kind of 'Market Socialist' economy.

Market socialism, sometimes known as liberal socialism, is an economic system that strikes a balance between free enterprise and socialist planning. In this system, businesses are publicly owned, but output and consumption are determined by the market rather than by governmental planning.

In real life, Market socialism components have been present in a number of different economies. A version of market-based socialism, based on socially owned cooperatives, workers' self-management, and market allocation of capital, is usually regarded as having existed in the former Socialist Federal Republic of Yugoslavia.

To learn more about Communist

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8 0

1 year ago

Which hipaa standard requires providers and their business associates to put in place policies and procedures that ensure privac

mel-nik [20]

HIPAA's Security Rule at §164.308 - Administrative safeguards starts with (a) "A covered entity or business associate must, in accordance with §164.306", and then continues to make various calls to "Implement policies and procedures" ...
Then, on the Privacy Rule, a BA is not directly required to comply with the Privacy Rule, except as specified within the Security Rule, but may be required to comply with those sections of the Privacy Rule that are specified in the contract or BAA (requirement) with its Covered Entity clients.

7 0

3 years ago

firm purchased copper pipes a few years ago at $10 per pipe and stored them, using them only as the need arises. The firm coul

Lostsunrise [7]

Answer:

The opportunity cost of each pipe and what is the sunk cost is $77 and $67 per pipe respectively.

Explanation:

Opportunity cost: The opportunity cost is that cost which is incurred to choose the best options with the available options.

Sunk cost: The sunk cost is that cost which is not recovered in the future. Its other name is the past cost. It does not help to make future decisions as if it is incurred then it cannot be recovered again

So, the opportunity would be the current price i.e $77

And, the sunk cost is $67 per pipe ($77 - $10)

7 0

3 years ago