Answer:
the Work in Process Inventory account
Explanation:
The journal entry to record the manufacturing overhead costs applied to the cost of production includes -
Debit Work in Process Inventory account XXXX
Credit Manufacturing overhead XXXX
As the work is in progress, it cannot be a finished goods inventory or even a cost of goods sold account. Again, raw materials inventory will not come here as manufacturing overhead costs assigned to the cost of production. Therefore, option C is correct.
Answer:
A. True
Explanation:
In the case when the payment is arise or occur either at the starting of the period or at the closing of the period, so the time line could be constructed for the annuities purpose
Therefore the given statement is true
That means the given statement cannot be false
Hence, the correct option is a.
Answer:
7 *
Explanation:
First, round 67,785 to the nearest ten thousand;
The 6 is in the ten thousands place, since it is greater than 5, it will be rounded up to 7. The number therefore becomes;
=70,000
Next, estimate the 70,000 to a single digit times a power of ten.
Maintain the 7 digit, then find a number that 10 is raised to, to get 10,000;
10^1 =10
10^2 = 100
10^3 = 1000
<em>10^4 = 10,000</em>
Therefore, 7 times 10 ^4 will give you 70,000;
70,000
= 7 *
Answer:
Fixed manufacturing overhead per unit = $580 per unit.
Fixed selling and administrative expenses per unit = $177 per unit.
Explanation:
Units of production anticipated = 3,420
Fixed manufacturing overhead per unit = Fixed manufacturing overhead ÷ Units of production anticipated = $1,983,600 ÷ 3,420 = $580 per unit.
Fixed selling and administrative expenses per unit = Fixed selling and administrative expenses ÷ Units of production anticipated = $605,340 ÷ 3,420 = $177 per unit.
Answer: cost
Explanation: In a market economy, the price of the product or service offered are determined by the market forces of demand and supply. Govt. intervention in regulating the market forces is minimal in such markets.
Thus, if the entrepreneurs produce goods at a low cost they will price it low leading to high demand for their product. Thus, they will be compensated well if they cost their product lower than others.
