Answer:
The depreciation for the first year is $75,000
Explanation:
In working hours method the depreciation on a fixed asset is charged using the ratio of numbers of hours utilized by the asset in a period and lifetime working capacity in hours.
First, we need to calculate the Depreciable value
Depreciable value = Cost of Asset - Salvage value = $315,000 - $15,000 = $300,000
Depreciation = Depreciable value x Numbers of hours worked / Total working capacity of Asset = $300,000 x 25,000 / 100,000 = $75,000
Answer:
2 and 4
Explanation:
Japanese worker can produce 6 units of steel or 3 televisions per hour.
Korean worker can produce 8 units of steel or 2 televisions per hour.
Opportunity cost is the cost of the lost alternative. So when the country decides to produce only televisions it has to give up on steel production. Thus, the units of steel forgone for each unit of television gained is an opportunity cost of a television.
Thus,
Opportunity cost of television for Japan = 
Opportunity cost of television for Korea = 
Answer:
under applied by $1,000.
Explanation:
The formula is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $101,998 ÷ 67,992 hours
= $1.50
Now we have to find the applied overhead which equal to
= Actual direct labor-hours × predetermined overhead rate
= 70,000 hours × $1.50
= $105,000
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $106,000 - $105,000
= $1,000 under-applied
Answer:
D) M2 is the best definition of money as a medium of exchange.
Explanation:
M2 includes all M1 plus some broader types of money which represent near money such as savings accounts, money market securities, mutual funds, small denomination time deposits (CDs worth less than $100,000). These are classified as ear money because they can be easily and quickly converted into currency (cash) or checking account deposits.
