Answer:
The answer is: The predetermined overhead rate is $10 per machine hour.
Explanation:
We must first determine the total overhead cost:
total overhead = fixed overhead cost + (variable overhead x machine hours)
total overhead = $300,000 + ($4 x 50,000) = $500,000
To get the predetermined overhead cost we divide the total overhead cost over the estimated machine hours.
Predetermined overhead cost = $500,000 / 50,000 = $10 per machine hour
Answer:
State ownership
Explanation:
State ownership, or government ownership, or public ownership, is a form of ownership were the government owns or partly owns as well has control over a business with the revenue from the business or establishment being added as benefits accruable to the welfare of the public
The characteristics of a state ownership are;
1) State ownership means that the government is the owner, or part owner of the establishment, where part ownership belongs to the public
2) The main purpose of a state owned business is not to make profit, but rather to provide public welfare, that benefits the residents of the country
3) The profits from the business are entered into the treasury of the state and are used to carry out public welfare projects
4) The employees of the government are the managers of the establishment which is subject to bureaucracy, and the business is operated with a state selected board of directors
5) The government determines the manner of stability present in the business, as well as the winding up of state owned businesses that have no function
6) The state owned business is operated by the laws and policy if the business and it is therefore recognized as an autonomous body
Answer: $962000
Explanation:
From the information given, the amount
that McCoy’s Fish House should record as the cost of the land will be:
Purchase price = $900,000
Add: Title insurance = $2000
Add: Back property tax = $8000
Add: Cost incurred to remove building = $45000
Add: Cost incurred to level the land = $10000
Less: Savage value of materials = $3000
Cost of land = $962000
Therefore, the cost of land is $962000
This was displayed on the said source. It cited connections to different aspects that show the importance of purchasing as a social responsibility. The center is mainly the Buyer's Relationship Commitment where it directs to the cooperation between the Buyer and Supplier. This relationship develops to trust, which is important to the business. It also pointed to the relationship to have a trusted and performing supplier.
Source: <span>Purchasing’s Contribution to the Socially Responsible Management of the Supply Chain
https://www.instituteforsupplymanagement.org/files/sr/capsarticle_purchasingscontribution.pdf
</span>
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