Answer:
The correct answer is $12,060.
Explanation:
According to the scenario, the given data are as follows:
Production in June = 400 units
Production in July = 410 units
Each unit required = 5 pounds
Cost per pound = $6
So, June required raw material = 400 units × 5 pounds = 2000 pounds
For July required raw material = 410 units × 5 pounds × 20% = 410 pounds
So, required total raw material for June = 2000 pounds + 410 pounds - 400 pounds ( already in inventory)
= 2010 pounds
So, the total cost required for raw material in June = 2010 pounds × $6
= $12,060
Hence, the budgeted cost of purchases for raw material K for June is $12,060.
Answer:
Explained.
Explanation:
Joe being the lead accountant for his company so, he prepares the financial reports.
Joe made mistakes in financial report making his manager angry because the resources at the Joe's company are limited and financial report that are timely and reliable would have helped the company to attract some financial investment.
Answer:
The correct answer is C: $944
Explanation:
Giving the following information:
Single plantwide predetermined overhead rate based on machine-hours. Total fixed manufacturing overhead cost of $237,000, variable manufacturing overhead of $3.90 per machine-hour, and 30,000 machine-hours.
First, we need to determine the manufacturing overhead rate:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base= (237000/30000)+3.9= $11.8 per machine hour.
Now, we can calculate the allocated overhead:
allocated overhead= Estimated manufacturing overhead rate* actual amount of allocation base= 11.8*80= $944
Answer:
There is a wide range of account titles among different types of companies
Explanation:
An account title can be regarded as a
unique name that is been assigned or associated to particular account in an accounting system. It is very crucial to use An account title when there is a need for identification of accounts by
accounting staff , this is because the title usually conveys the purpose of that particular account. Some of the account titles that can be used are;
Cash on Hand, Petty Cash Fund, and
Cash in Bank,. In account titles;
✓All companies use exactly the same account titles.
✓There is a small range in account titles regardless of type of company.
✓All companies use different account titles.
Answer:
legal system
Explanation:
There are five basic legal systems used in different countries around the world: civil law, common law, customary law, religious law, and mixed legal systems.
Generally business operations are included under common law (US and UK + former colonies) or civil law (based on Roman law used in most of Europe and Latin America), at least in western countries. This includes both North and South America, western European countries, and Australia + NZ.
Personally I don't know about the rest of the non western countries.
