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Stels [109]
3 years ago
14

Period costs include

Business
1 answer:
gayaneshka [121]3 years ago
3 0

Answer:

d) operating costs that are shown on the income statement in the period in which they are incurred.

Explanation:

A period cost is that which does not relate to a particular product but rather to a passage of time.

Period costs are often costs that a firm would incurred simply because it is operational and not because goods are sold. For example, whether or not a bakery produces bread, it will have to pay for rent , salaries of administrative workers, provide for depreciation of plant and machines e.t.c.

Period costs are charged are charged to the income statement as expense in the period in which they are incurred. A very popular example of period costs are selling and administrative overheads

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Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price
dybincka [34]

Answer: <u>$4,500</u>

Explanation:

Equipment was purchased for $76,000.

It has an estimated useful life of 8 years.

It will be sold for $4,000 after these 8 years so that is the salvage value.

With these figures depreciation per annum is calculated with the following formula;

Depreciation per annum = \frac{Cost of Asset - Salvage Value}{Useful life}

= \frac{76,000 - 4,000}{8}

= $9,000

The Equipment was purchased on July 1, Year 1. In Year 1 therefore it will only be in use for half the year and this is what it should b depreciated in light of.

Semi-annual Depreciation = 9,000/2

= <u>$4,500</u>

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Four finalists have been selected for a job as a travel agent. Which candidate will most likely get the job?
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Answer:

a

Explanation:

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What are the pros and cons of being a single decision-maker?
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Pros:

No one can stop you from picking that person/place/thing.


Cons:

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6 0
3 years ago
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What type of job can i get with a finance and marketing double major
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Sabrina Duncan had gross earnings for the pay period ending 10/15/16 of $5,835. Her total gross earnings as of 9/30/16 were $104
ivann1987 [24]

Answer:

option (A) $212.97

Explanation:

Data provided in the question:

Gross earnings for the pay period ending 10/15/16 = $5,835

Total gross earnings as of 9/30/16 = $104,400

Social Security tax rate = 6.2%

Now,

Total earnings

= Gross earnings for the pay period ending 10/15/16 + Total gross earnings as of 9/30/16

=  $5,835 + $104,400

= $110,235

since,The Social Security taxes are on a maximum earnings of $106,800 per year

therefore,

Sabrina's Social Security withheld from her 10/15/16 paycheck will be

= ( Total earnings - $106,800 ) × Social Security tax rate

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= $3,435 × 0.062

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Hence,

The answer is option (A) $212.97

7 0
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