Answer:
Total overhead on Economy sing ABC-method: <em>$376.18</em>
Explanation:
Frist we calcualte the amount of each cost driver:
Economic Standard Deluxe
12,000 3,200 2,700 Total:
Nº of parts 5 10 15 60,000
Machine H 1 3 6 12,000
Labor H 2 2 2 24,000
Then we solve for rates:
![\left[\begin{array}{ccccc}$Activity&$Driver&$cost&$Total&$Rate\\$handling&$parts&298000&60000&4.97\\$insertion&$parts&3060000&60000&51\\$machinery&$MH&865000&12000&72.08\\$finishing&$DLH&183000&24000&7.625\\$packaging&$orders&183000&1725&106.08\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccccc%7D%24Activity%26%24Driver%26%24cost%26%24Total%26%24Rate%5C%5C%24handling%26%24parts%26298000%2660000%264.97%5C%5C%24insertion%26%24parts%263060000%2660000%2651%5C%5C%24machinery%26%24MH%26865000%2612000%2672.08%5C%5C%24finishing%26%24DLH%26183000%2624000%267.625%5C%5C%24packaging%26%24orders%26183000%261725%26106.08%5C%5C%5Cend%7Barray%7D%5Cright%5D)
<em><u>Now, apply this rates to economy line:</u></em>
![\left[\begin{array}{ccccc}Activity&12000&&&\\handling&5&4.97&24.83&\\insertion&5&51&255&\\machinery&1&72.08&72.08&\\finishing&2&7.625&15.25&\\packaging&1020&106.09&9.02\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccccc%7DActivity%2612000%26%26%26%5C%5Chandling%265%264.97%2624.83%26%5C%5Cinsertion%265%2651%26255%26%5C%5Cmachinery%261%2672.08%2672.08%26%5C%5Cfinishing%262%267.625%2615.25%26%5C%5Cpackaging%261020%26106.09%269.02%5C%5C%5Cend%7Barray%7D%5Cright%5D)
<em>We add them together and get the total overhead: </em> <em>376.18</em>
<span>Checking account
Savings account
Certificate of Deposit
<span>Exchange Traded Fund</span></span>
Answer:
There are two distinct performance obligations: the voice service and the data service
Explanation:
Answer:
See explanation
Explanation:
The correct choice is not available : Net Income is $511,000
We determined this as follows :
<u>Income Statement for the ended December 31</u><u> </u>
Sales $1,323,000
Less Cost of Sales
Opening Finished Goods Inventory $55,000
Add Cost of goods manufactured $559,000
Less Ending Finished Goods Inventory ($60,000) ($554,000)
Gross Profit $769,000
Less Expenses
Operating expenses ($258,000)
Net Income $511,000
in accrual basis accounting, revenue is recorded when the seller's product is shipped or service is provided.
Revenue is the money made from regular business operations and is calculated by multiplying the average sales price by the quantity of units sold. In order to calculate net income, costs must be deducted from the top line (or gross income) figure. On the income statement, revenue is also known as sales.
Even though the cash for the transaction has not yet been exchanged, accruals are earnings or expenses that have an influence on a company's net income on the income statement. Due to the non-cash assets and liabilities they involve, accruals also have an impact on the balance sheet.
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