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3 years ago

In double-entry accounting, where should you record money that is leaving your company to pay bills?

Business

1 answer:

lesantik [10]3 years ago

5 0

Answer:

In the Debit Column of your Expense Account

Explanation:

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Longview Manufacturing Company manufactures two products (I and II). The overhead costs ($60,500) have been divided into three c

Mila [183]

Answer:

a. $8,000.

Explanation:

The computation of the amount of overhead cost assigned to the product I is shown below:

= $40,000 ÷ 2,500 × $500

= $8,000

Hence, the amount of overhead cost assigned to the product I is $8,000

Therefore the correct option is a.

7 0

3 years ago

Ohno Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the com

jekas [21]

Answer and Explanation:

The preparation of the answer sheet is presented below;

Product Costs

Cost Item Direct Direct Manufacturing Period

Materials Labor Overhead Costs

Rent on factory

equipment $11,500

Insurance

on factory building $1,780

Raw materials $80,800

Utility costs for factory $920

Supplies for general office $320

Wages for

assembly line workers $59,700

Depreciation on office equipment $830

Miscellaneous materials $1,470

Factory manager’s salary $6,200

Property taxes on factory building $420

Advertising for helmets $14,900

Sales commissions $10,900

Depreciation on factory building $1,640

Total $80,800 $59,700 $23,930 $26,950

Now cost to produce one helmet is

= Total cost to produced ÷ number of helmets produced

= ($80,800 + $59,700 + $23,930) ÷ (10,000)

= ($164,430) ÷ (10,000)

= $16.44

5 0

3 years ago

A retail store is doing a $50 gift card giveaway by selecting 1 customer from a pool of registered customers. The pool of regist

Pani-rosa [81]

Answer:

False

Explanation:

Given

$P(Female) = 52\%$

$P(Age>65) = 18\%$

Required

Determine $P(Female\ or\ Age>65)$

The events of being a female and over the age of 65 are non-mutually exclusive events.

We know this because the question says the pool is from all ages.

So, the required probability is calculated using:

$P(A\ or\ B) = P(A) + P(B) - P(A\ and\ B)$

In this case, it is:

$P(Female\ or\ Age>65) = P(Female) + P(Age>65) - P(Female\ and\ Age>65)$

This gives:

$P(Female\ or\ Age>65) = 52\% + 18\% - P(Female\ and\ Age>65)$

$P(Female\ or\ Age>65) = 70\% - P(Female\ and\ Age>65)$

Because the pool is from all ages,

$P(Female\ and\ Age>65) > 0\%$

So:

$P(Female\ and\ Age>65) < 70\%$

The solution to this question is b. False

6 0

3 years ago

When donating non-cash items to a charity, which of the following is not

inn [45]

Answer:

Considering selling the items and donating cash instead

7 0

3 years ago

Read 2 more answers

If the firm is at point D and decides to increase the production of bike tires by 300 units, the opportunity cost will be truck

earnstyle [38]

In a situation where the firm is at point D and an increase the production of bike tires by 300 units, the opportunity cost will be 200 truck tires.

When the firm is at point B and decides to increase the production of truck tires by 400 units, in this case, the opportunity cost will be 500 bike tires.

Opportunity cost simply means the potential benefit that an economic entity loses when it engages in another activity.

Learn more about opportunity cost on:

brainly.com/question/481029

4 0

2 years ago