Answer:
Journal entry to record depletion expense
Depreciation expense $280,000 (debit)
Accumulated depreciation $280,000 (credit)
Explanation:
The coal mine is an economic resource controlled (ownership of risks and benefits) by Last year, Mountain Top, Inc as a result of past event (purchase transaction) from which economic benefits are expected to flow into the business (cash from sale of minerals).Therefore the coal mine is an asset!
The asset is being depleted as it is being used. This is called depreciation.
Depreciation expense in this case is calculated as :
Depreciable Account × Current harvest as a percentage of total estimated tons available
(900000-100000)× 70000/200000 = $280,000
I'm a little confused on this question however, I'm 99% sure the answer is illusory promise because an illusory promise is one that does not hold any legal weight due to it possibility being a biased and non mutual agreement and it's just a verbal contract in the place of a paper contract.
Answer:
$91
Explanation:
Given the following information,
Direct materials per unit = $54
Direct labor per unit = $20
Variable overhead per unit = $6
Fixed overhead for the year = $462,000
For Absorption costing method, it includes all costs associated with production, including fixed and variable cost. The unit product cost is calculated using direct material, direct labor and total unitary manufacturing overhead.
Unitary cost = (Fixed overhead for the year / Units produced) + Direct materials per unit + Direct labor per unit + Variable overhead per unit
Unitary cost = ($462,000 / 42,000) + $54 + $20 + $6
Unitary cost = $11 + $54 + $20 + $6
Unitary cost = $91
Therefore, the product cost per unit is $91
From the critical path that's given, the total crashing cost will be $530.
<h3>What is a critical path?</h3>
A critical path simply means the longest sequence of tasks that one will have to complete in order to complete a project.
In this case, from the information given, the critical path will be:
= 0 + $130 + $400
= $530
In conclusion, the correct option will be $530.
Learn more about critical path on:
brainly.com/question/10693558