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3 years ago

9

In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their po

sitions so that we can formulate a convincing response. Select one: True False

1 answer:

dedylja [7]3 years ago

6 0

I Think The answer is True I hope it helps

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Which of the following is a key consideration in selecting an allocation base?

Andreas93 [3]

Answer:

C. There should be logical association between the allocation base and the incidence of costs.

Explanation:

We define the allocation base as that quantity through which the overhead cost and be allocated to. This base is usually in the form of a quantity. It could be the kilowatts used in hours, or the machine hours used.

It should be able to show to a logical extent how the cost object used the resources to which it is assigned

3 0

3 years ago

For each of the following independent events, identify the account that would be debited and the account that would be credited.

My name is Ann [436]

Answer:

A. Received cash by issuing common stock

Debit: Cash

Credit: common stock

B. Received cash for services to be performed in the future.

Debit: Cash

Credit: unearned revenue.

C. Paid salaries payable

Debit: salaries payable

Credit: cash

D. Provided services on account.

Debit: accounts receivable

Credit: service revenue

E. Paid cash for operating expenses

Debit: operating expenses

Credit: cash

Explanation:

A. Received cash by issuing common stock

Debit: Cash

Credit: common stock

B. Received cash for services to be performed in the future.

Debit: Cash

Credit: unearned revenue.

C. Paid salaries payable

Debit: salaries payable

Credit: cash

D. Provided services on account.

Debit: accounts receivable

Credit: service revenue

E. Paid cash for operating expenses

Debit: operating expenses

Credit: cash

6 0

3 years ago

Direct materials for the month amounted to $111,500. Direct labor for the month was $206,500. During the month, 12,500 units wer

Alenkinab [10]

Answer:

1. Total Production Cost = $413400

2. Cost per unit of production for the previous month = $25.44

Cost per unit of production for the next month = $25.44

Explanation:

GIVEN:

Direct Material for 12,500 unit = $111,500

Direct Labor for 12,500 unit = $206,500

Calculate:

Direct Material for 16,250 unit = $111,500*16,250/12,500 = $144,950

Direct Labor for 16,250 unit = $206,500*16,250/12,500 = $268,450

Total Production Cost = Direct labor + Direct materials + Factory Overheads

Total Production Cost = $144,950 + $268,450

Total Production Cost = $413,400

Cost per unit of production = Total Production Cost / Total unit

For Previous month = ($111,500 + $206,500) / 12,500

= $318000/ 12,500

= $25.44

For Next month = ($413400) / 16,250

= $25.44

6 0

3 years ago

Select the incorrect statement concerning the application of the controllability concept to responsibility accounting.

motikmotik

Answer:

Each manager should be evaluated on the costs but not the revenues that are under his or her control.

Explanation:

Controllability refers to the amount of influence that a manager has over costs or revenues. In responsibility accounting, only those elements are identified which are controllable. A person is given the responsibility for managing such kind of elements.

A person is given an authority to control the costs so that they are able to keep up their performance.

However, according to the controllability concept to responsibility accounting,

each manager should also be evaluated on the revenues that are under his or her control.

5 0

4 years ago

A firm sells a product in a perfectly competitive market. The marginal cost of the product at the current output level of 1,000

Sergio039 [100]

Answer:

The correct answer is "Continue producing 1000 units"

Explanation:

(In a perfect market)

When the price is = marginal cost. This means that if you increase your production, the benefits-profits will be the same as if you produce the same quantity.

When the Price > Marginal cost, means that consumers demand more for that good, so the producer has an incentive to increase the supply

When the Price < Marginal cost, means that production is higher than the consumer's demand. This is an incentive to decrease the supply.

For this case, the best option is to continue producing the same quantity of units, 1000 units

8 0

3 years ago