Answer: The correct answer is "C. An activity-based approach refines a costing system by focusing on individual activities as the fundamental cost objects. It uses the cost of these activities as the basis for assigning costs to other cost objects such as products or services.".
Explanation: The ABC costing model is a model that is based on the grouping into cost centers that make up a sequence of value of the products and services of the company's productive activity. It focuses its efforts on managerial reasoning in an adequate way the activities that cause costs and that are related through its consumption with the cost of the products. The most important thing is to know the generation of costs to obtain the greatest possible benefit from them, minimizing all the factors that do not add value.
Answer:
Dr accounts payable $2,300
Cr cash $2300
Explanation:
Initially the cost of the purchases=$4600
Returning half of the disc means the left for the discs actually bought is half of the invoice price of $4600 i.e $2,300
By not paying within the discount period implies that the debt stands at $2,300
Without mincing words,payment of $2,300 to the supplier automatically translates to debiting account payable with $2,300 and crediting cash account with the same amount.
The correct answer would :
Dr accounts payable $2,300
Cr cash $2300
This is missing from the options provided.
Answer:
False
Explanation:
Buying coke by Glenn is an habit because he does not have to think before doing it. He does not even try to consider alternatives which could be as a result of his total satisfaction from coke. Habitual decisions need little to no conscious effort (reasoning) to make.
Cheers.
Answer:
The ABC overhead for a Deluxe kayak will be $170.93
Explanation:
We are going to divide the overhead cost over the cost driver of each activity.
![\left[\begin{array}{cccc}-&Overhead&Total&Rate\\fabric&246,000&10,000&24.6\\assembly&144,000&32,000&4.5\\setup&110,000&15&7,333.33\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D-%26Overhead%26Total%26Rate%5C%5Cfabric%26246%2C000%2610%2C000%2624.6%5C%5Cassembly%26144%2C000%2632%2C000%264.5%5C%5Csetup%26110%2C000%2615%267%2C333.33%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Now we apply the rate to Deluxe Kayak:
![\left[\begin{array}{cccc}-&Rate&Deluxe&Overhead\\fabric&24.6&10,000&246,000\\assembly&4.5&24,000&108,000\\setup&7,333.33&10&73,333.33\\Total&-&-&427,333.33\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D-%26Rate%26Deluxe%26Overhead%5C%5Cfabric%2624.6%2610%2C000%26246%2C000%5C%5Cassembly%264.5%2624%2C000%26108%2C000%5C%5Csetup%267%2C333.33%2610%2673%2C333.33%5C%5CTotal%26-%26-%26427%2C333.33%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Finally we divide the overhead for Deluxe between the units produced
427,333.33/ 2,500 = 170.933 = 170.93
Answer:
My best advice for the spouse would be to designate herself as the new account owner, and since she is 62, she can start taking regular distributions from it. Any distributions that she takes will be taxed as ordinary income (the same rule would have applied to the late husband).
Explanation:
If she had her own IRA account (which is doubtful since she doesn't work), she could also roll over her late spouse's balance into her own account.
The wife's third option would be to treat herself as a beneficiary, not the owner or spouse, but that would only complicate things and result in higher costs.
