The answer could be D but if not then it has to be C
Answer:
Journal Entry to record the transaction
Dr. Work in Process Department I $280,000
Dr. Work in Process Department II $300,000
Dr. Manufacturing Overhead $8,000
Cr. Material Inventory $588,000
Explanation:
The direct material is charged to the work in process account, because it is an direct expense and all the direct expenses are charged to the work in process account like indirect material, indirect labor etc.
The indirect material is charged to manufacturing overhead account because all the indirect expenses are charged to the manufacturing overhead account like indirect material, indirect labor etc.
These inventories are issued from the material inventory, so to deduct the issued value from the material inventory account, the total value of direct and indirect issuance is credited to record the effect.
Answer: $129,500
Explanation:
According to the Accrual Basis in Accounting, revenue and expenses should only be recognised when goods have been delivered.
On the December 31, 2020 Sandra's Boutique had 1,850 gift certificates outstanding but these had been sold already to people during the year for $70.
This means that they have been paid for a service that they have not given (they provide the service when the GIFT certificate is renewed).
They cannot therefore recognize the revenue as Revenue yet and have to defer it.
The amount to be Deferred will therefore be,
= 1,850 * $70
= $129,500
BRCK is an example of a <u>International company . </u>
<u>BRCK began in 2014 and from the start designed its products in a developing country while manufacturing in a developed country. Its corporate headquarters are in Nairobi, Kenya, at a technology center that houses a small group of entrepreneurs. By 2016, the company was selling in 50 countries.</u>
Explanation:
International companies are those companies that sell their products Globally,but when it comes to production they prefer ,to carry out the task in developing countries mainly because the governments in developing countries offer various incentives to international companies like lower taxe rate and less legal regulations, with the intention of encouraging them to to set up factories.
<u>BRCK began in 2014 and from the start designed its products in a developing country while manufacturing in a developed country. Its corporate headquarters are in Nairobi, Kenya, at a technology center that houses a small group of entrepreneurs. By 2016, the company was selling in 50 countries.</u>
<u></u>
<u>Thus BRCK IS AN EXAMPLE OF AN INTERNATIONAL COMPANY</u>
Answer:
the actuarial rate is $599.44
Explanation:
The computation of the actuarial rate is given below:
= $53000 × 1.13% × (1+1.13%)^468) ÷ ((1 + 1.13%)^468 - 1)
= $599.44
The 1.13% comes from
= 13.50% ÷ 12
= 1.13%
And, the 468 comes from
= 39 × 12
= 468
Therefore the actuarial rate is $599.44
The same is to be relevant
