Answer:
B. Corporation
Explanation:
A Corporation is formed about by at least one person.
A coparation is a separate legal entity.
Owners of a corporation usually have limited liability ; they have no personal liability for the firm's debts.
In a limited partnership, some partners have unlimited liability.
A sole proprietorship is owned by a single person, the business isn't a separate legal entity and the owner has unlimited liabilities.
In a general partnership, partners have unlimited liabilities.
Answer:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
- materials = 275,000 + 50,000 = 325,000
- conversion = 275,000 + 12,500 = 287,500
2. Compute the first production department's cost per equivalent unit for materials and conversion for May.
- materials = $169,000 / 325,000 = $0.52
- conversion = $253,000 / 287,500 = $0.88
3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.
- materials = 50,000 x $0.52 = $26,000
- conversion = 12,500 x $0.88 = $11,000
- total = $37,000
4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.
- materials = 275,000 x $0.52 = $143,000
- conversion = 275,000 x $0.88 = $242,000
- total = $385,000
Explanation:
Beginning WIP 70,000 units
materials $56,100
conversion $16,400
Ending WIP 50,000 units
100% completed for materials (50,000 EU)
25% completed for conversion (12,500 EU)
units started 255,000
total units transferred out 275,000
materials cost added during the period = $112,900
conversion cost added during the period = $236,600
Answer:
1. Not all future costs are relevant in decision making. Only relevant costs make a difference in decision-making. The future costs that change according to each specific alternative are relevant for the decision process. So, not all future costs are relevant in the decision making process.
2. Incremental cost - Also called differential costs, these costs are the difference in total costs after changing something or adding a new activity. These are relevant costs when evaluating some alternatives.
Opportunity cost - This is the benefit that we miss out when we choose one alternative over another. Although not present in general accounting, this approach is often used by managers.
Sunk cost - These are past costs. This is money that has been spent in the past and cannot be recovered. Thus, these costs are excluded from the decision-making process, as they are omnipresent and are not affected by the decision.
Answer:
$134,300
Explanation:
Total indirect manufacturing cost = (Unit Produced * Variable manufactured overhead) + Fixed manufacturing overhead
= (8,000 * 1.60) + 121,500
=12,800 + 121,150
=$134,300
Hencc, the total amount of indirect manufacturing cost is $134,300
Answer:
$1,256,000
Explanation:
Data provided in the question:
Number of semiannual payments received = 16
Amount of each payment = $100,000
Annual interest rate = 6%
Thus,
Semiannual interest rate = = 3% = 0.03
Now,
Payment = Amount ×
or
Payment = $100,000 ×
Payment = $100,000 × 12.56
or
Payment = $1,256,000