Answer:
Absorption costing unit product cost $240
Explanation:
The computation of the absorption costing unit product cost is shown below/;
Direct materials $131
Direct labor $65
Variable manufacturing overhead $12
Fixed manufacturing overhead cost $32 ($118,400 ÷ 3,700)
Absorption costing unit product cost $240
Answer: $99,300
Explanation:
The cost of the land includes the actual purchase price and every expense incurred to get it ready for use.
These include;
= Cash price + Accrued taxes + Attorney fees + Real estate broker’s commission + clearing and grading
= 86,000 + 3,200 + 2,600 + 1,800 + 5,700
= $99,300
Answer:
Lewis is attending training to improve his Ethical skills.
Explanation:
Ethical Skills:
Those qualities or skills that make us ethical like honesty, integrity, responsibility, accountability etc. which are useful for the well being of a society and personal character.
- In this scenario, as Lewis is a sales representative but he is attending a training program to distinguish between personal expenses and business expenses as well as legal deductions for tax purpose. Because he wants to pay taxes to the states fairly and this behavior shows us a ethical skill.
- In your professional life, the personal expenses are those expenses which are not tax deductible like coming to office from home but business expenses are tax deductible like travelling for a business meeting.
Answer:
Adams' Equity Theory calls for a fair balance to be struck between an employee's inputs (hard work, skill level, acceptance, enthusiasm, and so on) and an employee's outputs (salary, benefits, intangibles such as recognition, and so on).
Explanation:
Hope it works!!
Answer:
Revenue and all their credit balances are transferred to the income statement and all the expenses and their debit balances are included in the income statement.
Explanation:
Keep it simple. In the income statement comes the savings from the operations of the company which means
Savings (Profit) = Revenue - Expenses
So the revenue credit balances and expenses debit balances must be reported in the income statement.
