Answer:
D. have separate cost allocation rates for each activity identified by the company CORRECT
There will be activity cost pool which, will be distribute among the product using different cost driver like machien hours, direct labor hours or other.
Explanation:
A. have the same cost allocation system as plantwide and departmental cost allocation systems
NO If it was, then it would not have a different name
B. have no cost allocation rates for each activity identified by the company
If we don't have rates to distrubte cost then, the allocation will be arbitrary
C. have combined cost allocation rates for each activity identified by the company
each should have different base cost driver if not, then they aren't different and should be combined.
Answer:
The option (B) Debit Work in Process Inventory $72.000 credit Factory Wages Payable $172,000 is correct
Explanation:
Solution
Given that:
As the cost of labor was sustained as regards to processing the inventory and it was not completed, so debit the work in process of account.
There also exits a liability of paying labor charges for this it will be payable.
Hence credit factory wages payable.
For the other options they are crediting cash which is not yet paid, here the option A and E is wrong.
For option D, they are crediting inventory which in this case is not correct due to the existence of a liability for paying labor fees.
The option D is wrong, because they debited with the cost of sold goods.
Answer:
$12
Explanation:
Equilibrium price is price at the point where quantity supplied equals the quantity demanded.
Please check the attached image for a table showing how equilibrium was found
Answer:
the first option is the correct one
Answer:
A
Explanation:
For an accounting manual, if your audience has different background of education then you need to keep different section for different audience. The thing is, if you write it for highest level then bookkeepers will have difficulty in understanding it. If you write for lower level, then it will be useless for higher level of audience.
So the manual should include different section for different audience.
