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4 years ago

Tomasini Corporation has provided the following data from its activity-based costing accounting system:

Business

1 answer:

Gelneren [198K]4 years ago

4 0

Answer:

d. $192,000

Explanation:

The computation of the supervisory wages and factory supplies not be assigned is shown below:

= Supervisory wages × other percentage + factory supplies × other wages

= $780,000 × 10% + $380,000 × 30%

= $78,000 + $114,000

= $192,000

Hence, the correct option is d. $192,000

All other information i.e given in the question is not relevant Hence, ignored it

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(Assumptions, Principles, and Constraint) Presented below are the assumptions, principles, and

LuckyWell [14K]

The accounting principles, assumptions, and constraints describes are identified as follows: A) 7, B) 6, C) 8, D) 9, E) 1, F) 4, G) 3.

<h3>What are Accounting Principles?</h3>

These are rules or laws that govern the reporting and recording of the financial information of a business.

7 - Expense Recognition Principle: This holds the rule of thought that expenses made ought to be recorded in the books or recognized in the same time frame as the revenue transactions they are related to.

3 - Monetary Unit Principle: This law indicates that if a transaction cannot be expressed in a currency, then it shouldn't be recorded. This means "in-kind" transactions and favors hold no place in proper Financial Bookkeeping practice.

See the link below for more about Accounting Principles:

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5 0

3 years ago

Consider a mutual fund with $300 million in assets at the start of the year and 10 million shares outstanding. The fund invests

djyliett [7]

Answer: Start = $300 million

End = $318.59 million

Explanation:

NAV can be calculated by dividing the funds Assets net of Liabilities by the total number of outstanding shares.

At start of the year NAV is $300 million and NAV per share is therefore,

= 300 million/ 10 million

= $30 per share.

Ending NAV

During the year the fund made Investments and increased by a price of 7%

= 300 million (1 + 0.07)

= $321 million

We still have to subtract the 12b-1 fees that the fund charges though and that would result in,

= 321 million * (1 - 0.0075)

= 318.5925

= $318.59 million.

Dividing this by the total number of outstanding shares we have,

= 318.59 /10

= $31.86

$31.86 is the NAV per share at year end.

5 0

3 years ago

[The following information applies to the questions displayed below.] Tracy Company, a manufacturer of air conditioners, sold 19

Juli2301 [7.4K]

Answer:

November 17, 2021

Merchandise : air conditioners $45,600 (debit)