Material requirements plus an allowance for normal inefficiencies are added together to determine the Quantity Standard of a direct material per unit of output.
<h3>What is
direct material ?</h3>
The cost of direct materials, which may be easily recognised with the unit of production. In the manufacture of light bulbs, for example, the cost of glass is a direct material cost. Material was required as the primary component in the creation of items or goods.
Direct material refers to the physical components of a product. A baker's direct materials, for example, include flour, eggs, yeast, sugar, oil, and water. The direct materials concept is utilised in cost accounting, where this expense is categorised independently in various types of financial analysis.
Direct materials are those that are essential to the manufacturing process and can be traced back to the specific product manufactured.
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Answer:
a. credit to Cash for $63,316.
Explanation:
Given;
Pension contribution by GL Inc. percentage = 11%
Salaries for the period = $575,600
Amount to be contributed = 11% × $575,600
= $ 63,316.00
To account for this, the required journal would be
Debit Pension Expense $ 63,316.00
Credit Cash account $ 63,316.00
The right option is a. credit to Cash for $63,316.
I think the depreciation will be charged only on the value of the house so that would be $753000-134000=$619000 since the land wouldn't depreciate. The actual amount of depreciation I don't know, just that it will be based on this value of the building on the land.
Answer:
d
Explanation:
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible
Coase theorem has been proposed as a solution to externality. According to this theory, when there are conflicting property rights, bargaining between parties involved can lead to an efficient outcome only if the bargaining cost is low
Another solution to negative externality is through the activities of charities. Charities can raise donations to limit or regulate the activities of firms that constitutes a negative externality.
