Answer:
a. Patent development and registration costs incurred in 2020.
Dr Patent 11,200 (only patent registration fees)
Dr Research and development expense 49,600
Cr Accumulated depreciation 6,400
Cr Cash 54,400
b. Legal fees paid in 2021.
Dr Patent 4,800
Cr Cash 4,800
c. Amortization expense in 2021.
Dr Amortization expense 607.50
Cr Patent 607.50
($11,200/20 x 9/12) + ($15,000/20 x 3/12) = $607.50
d. Amortization expense in 2022
Dr Amortization expense 750
Cr Patent 750
Answer:
Variable manufacturing overhead rate variance= $664 favorable
Explanation:
Giving the following information:
Variable overhead 0.2 hours $ 5.10 per hour
The company used 1,660 direct labor-hours to produce this output. The actual variable overhead cost was $7,802.
<u>To calculate the variable overhead rate variance, we need to use the following formula:</u>
Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity
Actual rate= 7,802/1,660= $4.7
Variable manufacturing overhead rate variance= (5.1 - 4.7)*1,660
Variable manufacturing overhead rate variance= $664 favorable
Answer:
Heredity, physical environment, culture and particular experiences
Answer:
The correct answer is option A.
Explanation:
Monopolistic competition refers to the market structure where there is a large number of buyers and sellers in the market. These sellers sell heterogeneous or differentiated products in the market.
The firms are price makers and face a downward-sloping demand curve. There is a high degree of competition in the market due to product differentiation. That is why there is little difficulty in an entry into the market.
Because of product differentiation, the firms advertise their products in order to gain market share. So the existing firms in the market compete in quality, price, and marketing.
