Answer:
The conversion cost is $95,000
Explanation:
The computation of the conversion cost is shown below:
As we know that
Conversion cost
= Direct Labour + Overheads
where,
Direct labor is $24,000
And, the overhead is $71,000
Now placing these valeus to the above formula
So, the conversion cost is
= $24,000 + $71,000
= $95,000
Hence, the conversion cost is $95,000
Answer:
A decrease in the size of a tax always decreases the deadweight loss of that tax.
Explanation:
Deadweight loss of tax is defined as the harm that is caused by tax to economic efficiency and prodction. It measures by how much taxes reduces the standard of living of a population.
Deadweight loss is the difference between to tax imposed and the reduction in production level it causes.
A decrease in the size of tax will give more income free to invest in production, therefore the production level will increase. This reduces the deadweight loss.
Effect of tax on deadweight is illustrated in the attached.
Answer:
Option B, 1 & 2
Explanation:
The complete question is-
The disadvantages of a system when it works in isolation are:
1. It becomes difficult to collect and analyse data needed for the functioning of any department.
2. It results in the loss of profits to the organisation that could have been better spent in decision making.
3. Business executive or decision-maker cannot take good decisions with the isolated data.
a. 1 & 3
b. 1 & 2
c. 2 & 3
d. 1
Solution -
An isolation system also has work control system, training and competence, operating procedures and management. This system can work adequately only when these arrangement work adequately and this not possible without integration with the entire system.
It become difficult to collect isolated data, its assessment and making decision regarding the betterment of system.
Hence, Option B is correct
Answer:
$6,200
Explanation:
Beginning Work in progress $15,000 $8,000
Units started $60,000 $38,500
Total process $75,000 $46,500
Less: Units transferred to tax $65,000
Ending work in progress $10,000
Average cost method material cost of work in progress = Material cost ÷ Total units
$46,500 ÷ $75,000
= $0.62
Material cost of work in progress = $0.62 × $10,000
= $6,200
Answer:
Contribute cash to the partnership.
Explanation:
Generally each partner in the partnership has capital balances represented as credit balances.
Capital balances do not have debit balances, if a partner has deficit balance, it means he has less than the balance as required for his share to be maintained.
Further if the partnership is declared insolvent, for any reason, the partner having deficit balance shall first bring in cash to add balance to his account, and remove the deficiency in his account.
Therefore, the correct option is
Contribute cash to the partnership.