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3 years ago

The cost object in a job order system is the and the cost object in a process costing system is the .

Business

1 answer:

nordsb [41]3 years ago

6 0

Answer:

The correct word for the blank space is: specific job; process.

Explanation:

The cost object represents the cost of an object or department for which that cost is assigned. For instance, the repairs department of a dealership is a cost object of the repairs employees and the repair supplies. Cost objects are usually traceable thus are treated as direct costs for accounting purposes.

Then, the cost object of a job order is the specific job assigned; while the cost object of a process costing system is the process itself.

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Waterway Industries purchased a depreciable asset for $837300 on January 1, 2018. The estimated salvage value is $84000, and the

murzikaleks [220]

Answer:

$222,100

Explanation:

Cost = $837,300

Residual value = $84,000

Useful life = 9 years

Now,

Annual straight line depreciation = $\frac{Cost-Residual Value}{Useful life}$

Annual straight line depreciation = $\frac{837,300 - 84,000}{9}$

Annual straight line depreciation = $\frac{753,300}{9}$

Annual straight line depreciation = $83,700

Accumulated depreciation for three years i.e., 2018, 2019 and 2020 would be:

Accumulated depreciation = 3 × $83,700

Accumulated depreciation = $251,100

Book value (at the end of year 2020) = Cost - Accumulated depreciation

Book value (at the end of year 2020) = $837,300 - $251,100

Book value (at the end of year 2020) = $586,200

Revised useful life = 5 years

No. years asset has been used = 3 years

Remaining useful life = 2 years

Revised salvage value = $142,000

Therefore, depreciation expense for the remaining three year would be:

Revised depreciation expense = $\frac{Book value at the end of 2020 - Revised residual Value}{Remaining useful life}$

Revised depreciation expense = $\frac{586,200 - 142,000}{2}$

Revised depreciation expense = $\frac{444,200}{2}$

Revised depreciation expense = $222,100

5 0

3 years ago

Payback period computation; even cash flows LO P1

uranmaximum [27]

Answer:

A. 2.2 years

B. 3.6 years

Explanation:

Payback period calculates the amount of the time it takes to recover the amount invested in a project from its cumulative cash flows.

Payback = amount invested / annual cash flows

Payback period is calculated using cash flows. So, the net income has to be changed to cash flows by adding back depreciation.

For the first machine

Straight line depreciation expense = (Cost of asset - salvage value) / number of years

( $520,000 - $10,000) / 6 = $85,000

Cash flow = $85,000 + $150,000 = $235,000

For the second machine, depreciation = ( $380,000 - $20,000) / 8 = $45,000

Cash flow = $45,000 + $60,000 = $105,000

Payback period for machine a = $520,000 / $235,000 = 2.2 years

Pay back period For machine b =

$380,000 / $105,000 = 3.6 years

I hope my answer helps you

3 0

3 years ago

Which one of the following pronouns correctly completes this sentence?

netineya [11]

The correct answer is d.

7 0

3 years ago

Read 2 more answers

Why is Apple’s industry so competitive and how could this affect the ethical risks in Apple’s operations?

maw [93]

Answer:

Apple industry is the consumer goods technological sector.

Explanation:

This sector is very competitive because it tends to be very profitable, which means that it attracts a large number of skilled entrepreneurs and wokers who create high quality products that customers demand. This is specially true of the mobile phone sub-sector, with industry giants like Samsung and Huawei being in stiff competition with Apple.

Because of this, Apple faces several ethical risks: for one, it faces the risk of not practicing predatory pricing techniques like dumping in order to drive out competition, because this would be unfair not only to the other firms, but also to the other companies.

Another ethical risks would be more relevant for managers, and that is that managers should avoid to overestimate their ability to increase profits, because this may create false expectations on the board, on stockholders, and on the customers, leading to malinvestment, and other negative eocnomic consequences.

6 0

3 years ago

When prices rise, consumers and businesses hold larger money balances. This reduces the supply of loanable funds, increases the

Vladimir79 [104]

The supply of loan able funds, increases the interest rate, and discourages both consumption and investment. This process is called the Interest Rate Effect

Explanation:

The impact of a rise in the cost of borrowing on production costs due to price inflation within an economy.

The interest rate effect reflects the fact that most consumers and business finance managers will cut back on their borrowing activities when interest rates increase.

3 0

3 years ago

The cost object in a job order system is the ______ and the cost object in a process costing system is the ______.

The cost object in a job order system is the and the cost object in a process costing system is the .