Answer:
In the activity based costing system, the costs are always allocated to unit product on a more fairer basis which is allocating cost pools on the cost driver basis and always remember that these cost pools originated by breaking the total overhead costs. This total Overhead cost is used only in absorption costing and absorbed on not a fairer basis (only uses only one basis of allocation which is either machine hours or labor hours).
Explanation:
The cost driver for setting up batches is number of batches, processing customer orders is customer order and that of Assembling products is assembly hours.
So
Setting up batches cost per Product X26X = $78.6 * 34 = $2672.4
Processing Customer Orders per Product X26X = $59.4 * 1 = $59.4
Assembling products cost per Product X26X = $1.58 * 369= <u>$583.2</u>
Total overhead cost assigned to unit product = <u>$3315</u>
The result of this system is that THE LOW COUNTRY BECOME MORE PROSPEROUS THAN THE UP COUNTRY.
The low country was able to plant more crops because of the system that they were using and the money gotten from these produce make them more wealthier than their counterparts in the up country.<span />
Answer: The following journal entries would apply:
<u>Purchase of franchise:</u>
Debit: Restaurant franchise (intangible asset) $85,000
Credit: Cash $85,000
<u>Amortization of franchise:</u>
Debit: Amortization charge $708
Credit: Accumulated amortization $708
Explanation: When the franchise was purchased, there was a cash outflow. So the above first entries would apply in order to recognize the intangible asset in Frazier Company's books. However, the intangible was meant to be amortized over 10 years, meaning $85,000/10 years = $8,500 annual amortization charge. We still have to divide this by 12 in order to arrive at the monthly amortization charge. So $8,500 divided by 12 months = $708 monthly. The above entries apply on amortization.
Answer:
12.1 inches is the height of the can
Explanation:
Answer:
(a) the cost of the goods sold for the September 30 sale and
(b) the inventory on September 30.
- Ending inventory = 9 units at $17 = $153
Explanation:
date transaction units unit price total
1 beginning inv. 23 $16 $368
5 sale -13 ($208)
17 purchase 24 $17 $408
30 sale -25 ($415)
30 ending inv. 9 $17 $153
When we use first in, first out (FIFO) inventory method, the price of the units sold are calculated using the oldest units in inventory.
The COGS of the units sold on Sept. 5 = 13 units x $16 = $208
The COGS of the units sold on Sept. 30 = (10 units x $16) + (15 units x $17) = $160 + $255 = $415
Ending inventory = 9 units at $17 = $153