Answer: True.
Explanation: The journal entry would be made with processing cost system when the units would have been completed in respect to the work done. The statement is " true".
Processing cost system is used when nearly identical product are produced in mass. The process costing can be described as one method of assigning manufacturing cost to unit produced.
Answer:
The divided for common stockholders is $152000
Explanation:
The preferred stock is cumulative whch means any arrears in preference dividend will be paid whenever the dividend is declared.
The amount of yearly preference dividends is = 12000 * 100 * 0.07 = 84000
Thus, when 320000 cash dividend is declared, 2 years ( current year and arrear year) preference dividend will be paid first and the remaining will be distributed among common stock holders.
The dividedn for common stockholders is 320000 - (84000 * 2) = $152000
Answer:
Option D. 216
Explanation:
The value of "t" can be calculated using the compounding formula given as under:
Principal Amount * (1 + r)^(t-n)/n = Future Value
Here
Principal Amount is $1,000
r is 8%
n is the number of payment which is 12th here
Future Value is $3,700
By putting values, we have:
$1,000 * (1 + 8%)^(t-12)/12 = $3,700
(1.08)^ (t-12)/12 = 3.7
By taking natural log on both sides:
(t-12)/12 = 17
t = 216
Answer:
D. $ 45
Explanation:
According to data given in question:
Bernard Company's budgeted manufacturing overhead = $2,700,000
Direct labor hours for the period = 60,000 hours
As Overhead is allocated on the basis of direct labor hours.
Manufacturing overhead rate = $2,700,000 / 60,000 hours
Manufacturing overhead rate = $45 / hour
So the correct Answer is D. $ 45
The first answer is is outsourcing as the product is beign made in a foreign country and they do this to reduce production cost, where they do not have to gather raw materials for themselves.
