Answer:
$84,945.
Explanation:
cost to be assigned to the ending Work in Process inventory
= (21000×2.56)100% + (21000×2.25)66%
= $84,945
Therefore, The cost that would be assigned to the ending Work in Process inventory for the period is $84,945.
Answer:
Balance in Prepaid insurance as of December 31 is $18,750
Explanation:
<em> </em>Computation of Prepaid Insurance
Insurance 1 ($34,200 * 6/18) $11,400
Insurance 2 ($14,700 * 12/24) <u>$7,350 </u>
Total Prepaid Insurance <u>$18,750</u>
Answer:
By providing loans so people can open businesses
Explanation:
Financial institutions act as intermediaries between the source and users of credit. By accepting deposits from the general public, financial institutions pool together resources that firms and individuals can borrow to start or expand their business.
Financial institutions include commercial banks, saving and credit unions, among others. They offer credit services to clients from the customers' deposits. The loans help individuals and firms start and grow their business, which leads to growth in the entire economy.
Answer:
COGS= $807,500
Explanation:
<u>First, we need to calculate the unitary cost for direct material, direct labor, and manufacturing overhead:</u>
direct material= 2*2= $4
direct labor=2.7*20= $54
overhead= 2.7*10= $27
Total unitary cost= $85
<u>Now, the cost of goods sold:</u>
COGS= 85*9,500= $807,500
Answer: Option C.
General,selling and administrative cost cannot be assigned to a cost object.
Explanation:
General, selling and adminstrative cost is the total of both direct and indirect selling cost, administrative cost and all general cost of the organisation. This cost include all the non production cost that they company incured at a specific time bond i.e cost to sell, cost to deliver product and services, rent, cost to manage the company, marketing expenses, salaries, accounting, bonuses e.t.c.
It is not assigned to a cost object because it is general ,cost of selling, and administrative cost.