Answer:
To Determine
Job order costing
Job order cost system provides a separate record of each particular quantity of product that passes through the factory. Each quantity that is manufactured in the business is known as job. Job order costing is used when the product produced are significantly different from each other.
To record: the journal entry to record all the summarized operations.
View image for journalized entry.
Answer:
b. are changes in taxes or government spending that increase aggregate demand without requiring policy makers to act when the economy goes into recession.
Explanation:
Automatic stabilizers are changes in taxes or government spending that increase aggregate demand without requiring policy makers to act when the economy goes into recession.
In Economics, it is also referred to as built-in stability and this means that with given tax rates and expenditures policies such as fiscal and monetary policy; an increase in domestic income will reduce a budget deficit or produce a budget surplus, while a decline in income will result in a deficit or a lower budget surplus.
Hence, an automatic stabilizer is an economic system or policies that automatically shore up or strengthen the Gross Domestic Products (GDP) without specific government intervention for sustenance or creation of stability in the economic cycle of a country.
For example, personal and corporate income tax usually decline in the event of recession in a country because individuals and business owners or entities make less, thus leading to unemployment and an increase in social security funds or welfare.
Answer:
b. $3,000.
Explanation:
The computation of the amount of the basis adjustment allocated to the inventory is shown below;
= $5,000 - $2,000
= $3,000
This $3,000 would represent the basis adjustment and the same would be allocated to the inventory
hence, the correct option is b.
And, the rest of the options would be incorrect
The answers are c<span>ustoms, and religion</span>
Answer: NAICS and SIC codes
Explanation: Standard industrial classification are 4 digit codes, these are generally used for identification of industries. Whereas, NAICS, that is, North american industry classification is a six digit code which has recently came into existence and is being used as a replacement for SIC.