Answer:
(a) The dollar value of abnormal spoilage.
$499,317.
(b) The cost of the good units finished.
$12,669,193.
(c) The cost of ending work-in-process inventory
$1,421,491.
The complete solution of the problem is attached with an excel spreadsheet.
If you take a non-qualified distribution, you are subject to ordinary income tax on the distribution and a 20% penalty tax. The penalty may not apply: if you are age 65 or older, if you are disabled or.
It is because he is paying money so it is a expense
Process Costing system involved several processes or departments under which the next department receives partially completed product from the previous department. The first department receives the raw material and it does not receive any output from other department.
Hence except the first department, each department receives output from the prior department as a partially processed product.
Hence the answer is <u>True.</u>
It may seem that franchise has many benefits since it allows for a person to open and operate a business without much knowledge of how to run a business and generally franchises are well advertised so not much marketing costs are needed, however negative impacts are much more, since you need to pay lifetime percentages for sales and operating under franchise as well as there is no room for creativity and too much dependence on a big business. Also the funds needed to open a franchise are much higher than same business but operating independently. So negative side is prevailing.
