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Kamila [148]
3 years ago
7

LO 4.5Why are the overhead costs first accumulated in the manufacturing overhead account instead of in the work in process inven

tory account?
Business
1 answer:
vivado [14]3 years ago
3 0

Answer  Explanation:

For the manufacturing overhead occurs during the manufacturing process but unlike wages, the actual values are unknow thus, we cannot anticipate in a guarantee amount. Hence, the cost accounting works as follows:

It will stablish a predetermined overhead rate which will be charged against WIP based on another factor which can be measure (like working hours, machine hours, among others)

Then, during the period as the actual cost occurs they will be charged into manufacturing overhead account.

At the end of the period, we will be able to determinate the actual cost and adjust COGS, WIP and FINISHED GOOD if needed to represent the actual cost of the inventory produced.

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Ceres corporation acquired a mineral mine for $6,000,000 of which $600,000 was ascribed to land value after the mineral has been
myrzilka [38]

Answer:

$11,880,000

Explanation:

Depletion is an estimated cost of a natural resource that is extracted. This resource is expensed as the extraction is made.

As per given data

Value of Rights = $60,000,000

Land Value = $600,000

As we know land does not depreciate or depleted.

Depletion Value = $60,000,000 - $600,000 = 59,400,000

Estimated resources = 9 million units

Resources extracted in the period = 1.8 million units

Depletion expense is based on ratio of the amount of extraction in period to the total expected resource.

Depletion Expenses = $59,400,000 x 1.8 million units / 9 million units = $11,880,000

8 0
3 years ago
Read 2 more answers
Which of the following would not be a part of a company's human resources?
pychu [463]
The answer is D. All would be included as human resources
6 0
3 years ago
Rupert and cordelia own an american company that does business in foreign nations. getting a license in a new country can be cha
Lyrx [107]

Answer:

The payment made by Cordelia

Explanation:

In the scenario it stated clearly that Rupert filled out what would have been a normal application form for operational license in the country

However Cordelia using connections was able to schedule a meeting with the government official that <u>has the authority to determine which foreign companies get licenses, and pays him $200 to approve their license.</u>

Cordelia payment is nothing short of bribery and corruption because it is not a legally required payment and the motive was clearly to unduly influence the minister to approve their license.

Such payment will likely violate the foreign corrupt practices act

6 0
3 years ago
Read 2 more answers
Real per capita GDP in Singapore in 1960 was about $450, but it doubled to about $900.00 by 1977. a. What was the average annual
aleksandrvk [35]

Answer:

4.16%

Explanation:

to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):

future value = present value x (1 + r) ⁿ

  • future value = 900
  • present value = 450
  • n = 17
  • r = ?

900 = 450 (1 + r)¹⁷

(1 + r)¹⁷ = 900 / 450 = 2

1 + r = ¹⁷√2 = 1.0416

r = 1.0416 - 1 = 0.0416 or 4.16%

6 0
3 years ago
Quincy has job offers in Brexington and across the country in Charlieville. The Brexington job would pay a salary of $50,000 per
Otrada [13]

Based on the CPI in both places, the Brexington salary in Charlieville is $30,000.

<h3>Brexington salary in Charlieville </h3>

This can be found by the formula:

= Brexington salary x CPI of Charlieville / CPI of Brexington

Solving gives

= 50,000 x (90 / 150)

= $30,000

In conclusion, option A is correct.

Find out more on CPI at brainly.com/question/512131.

3 0
3 years ago
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