Answer:
Which of the following statements best decribes an indirect cost?
An indirect cost is assigned to a cost object using allocation
Explanation:
A cost or expense that is not directly traceable to a department, product, activity, customer, etc. As a result indirect costs and expenses are often allocated to the department, product, etc.
Answer:
a. As per the situation sales exceed production absorption costing income from operations is lesser than variable costing income from operations.
b. $776,160
Explanation:
a. As per the situation sales exceed production absorption costing income from operations is lesser than variable costing income from operations
b. Given that
Beginning inventory = 52,800
Fixed manufacturing costs = $14.70 per unit
Total Beginning inventory = Beginning inventory × Fixed manufacturing costs
= 52,800 × $14.70 per unit
= $776,160
Answer:
The correct answer is E that is 18 eggs.
Explanation:
Assuming initially eggs be n which he bought
So, the price per dozen = $(12×12/n)
But finally, he bought (n + 2) eggs in the same price that is $12.
So, the new price per dozen = $(12×12/(n + 2))
Therefore,
12×12/n - 12×12/(n + 2) = 1
Taking 12 × 12 common from the above equation:
(12×12)[(n + 2) - n]/[n(n + 2)] = 1
144×2 = n(n + 2)
n(n + 2) = 288
n² +2n - 288 = 0
Now, we can either solve the above quadratic equation as follows,
n² + 2n - 288 = 0
n² + 18n - 16n - 288 = 0
(n + 18)(n - 16) = 0
As n would be positive because eggs cannot be in negative numbers therefore, n = 16
And he bought 2 extra, So
n = 16 + 2
n = 18 eggs
The eggs he bought is 18
Answer:
d. Work in Process Dr. XXX
Manufacturing Overheads XXX
Explanation:
Work in process inventory is a current asset. A debit of current asset accounts increase their balance while a credit reduces it.
Manufacturing overheads refer to indirect costs. Examples would include such as gas electricity used in manufacturing process which represents an indirect cost.
In the given case, the journal entry would be:
Work in Process A/C Dr.
To Manufacturing Overheads
(Being application of manufacturing overheads recorded)
The entry means manufacturing costs i.e indirect costs have been used, transferred and added to cost of work in process.
Answer:
This is <em>false. </em>
Explanation:
You only have so much room on a resume, and refrences can be a waste of space. Typically, refrences are given upon request.
Hope this helped.