Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,300 of dir
ect materials and used $3,800 of direct labor. The job was not finished by the end of the month, but needed an additional $2,800 of direct materials and additional direct labor of $6,100 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B?
Explanation: Import restrictions are methods used to control the types, quantity and value of goods being imported into a country from other countries.
There are various types of import restrictions and they are:
1. Import duties: import duties are tariffs or taxes imposed on imported goods to make them more expensive thereby discouraging the purchase and use of imported goods.
2. Import quota: this is a restriction on the volume of imported goods that would be allowed into the country at a particular period of time or from a particular country.
3. Currency restrictions: this is used to restrict the amount of foreign currency used in the settlement of imported goods.
4. Prevention of the entry of illegal or harmful items into the country.
Zero, because the selling of fixed asset is reported as cash inflow under investing activity.
Explanation:
Cash flow from investing activities includes all the investments in the long term assets and sale of investments or individual assets. The investment items may include Property, Plant and Equipment.
So this means that it will not be included in the Cash from Operating Activities because it is a Cash from Investing Activities.
