Which of the following is an econmic need

Prepare journal entries to record the following production activities for Hotwax. 1. Incurred direct labor of $200,000 (credit F

Firdavs [7]

Answer:

a. Debit Work-in- Progress with $200,000, and credit factory payroll payable with $200,000.

b. Debit factory overhead with $11,500, and credit factory payroll payable with $11,500.

c. Debit factory payroll payable with $211,500, and credit Cash with $211,500.

Explanation:

This will appear as follows in the account:

Hotwax's Journal Entries

Details Dr ($) Cr ($)

Work-in- Progress 200,000

Factory payroll payable 200,000

Being direct labor cost incurred

Factory overhead 11,500

Factory payroll payable 11,500

Being the indirect labor cost incurred

Factory payroll payable 211,500

Cash 211,500

Being total factory payroll or labor cost paid in cash

4 0

4 years ago

If the cpi was 240 in year 1 and 245.1 in year 2, what is the inflation rate between year 1 and year 2?

Ulleksa [173]

The inflation rate between years 1 and 2 is 2.13%

What is CPI?

CPI means consumer price index, the consumer price index measures the change in prices of a basket of goods and services from one period to another, like the change in prices or inflation rate from one year to another year.

The inflation rate can be expressed in the current year CPI divided by the prior year CPI as shown by the CPI formula shown below:

inflation rate=(CPI year 2/CPI year 1)-1

CPI year 2=245.1

CPI year 1=240

inflation rate=(245.1/240)-1

inflation rate=2.13%

The implication of the above computation is that the inflation rate between year 1 and year 2 is approximately 2.13% when rounded to 2 decimal places.

In other words, the prices of goods and services has increase by 2.13% on the average between the two years

Read more on CPI on:brainly.com/question/11397263

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6 0

2 years ago

dentify (by letter) each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corpor

belka [17]

Answer:

1. Separate legal entity ⇒ ADVANTAGE

This is an advantage because it means that the owners are not liable for the actions of the company. If the company goes bankrupt for instance, they will not have to pay for it with their own finances.

2. Taxable entity resulting in additional taxes ⇒ DISADVANTAGE

Anything that results in corporations having to pay more taxes is disadvantageous from their point of view.

3. Continuous life ⇒ ADVANTAGE

This is an advantage because it makes accounting for the company easier as well as giving investors more stability in their planning.

4. Unlimited liability of owners ⇒ NOT APPICABLE.

This is not applicable to Corporate ownership but rather to sole proprietorship.

5. Government regulation ⇒ BOTH ADVANTAGE AND DISADVANTAGE

This can be both an advantage and a disadvantage. On the one hand, it can lead to the industry functioning effectively but on the other hand, it could stifle growth with restrictive policies.

6. Separation of ownership and management ⇒ DISADVANTAGE

This is a disadvantage because it gives rise to the Agency problem where management might try to act in their own best interests instead of that of the owners.

7. Ability to acquire capital ⇒ ADVANTAGE

Corporations are better able to acquire capital which is good because it means that they will be able to invest and embark on more projects.

8. Ease of transfer of ownership ⇒ ADVANTAGE

Owners of corporations especially the public ones, are able to transfer ownership quite easily to others through the sale of shares.

6 0

3 years ago

the origin of life broadly conforms to the Oparin-Haldane model, then early in life's origin there was not a distinction between

Alex

Answer:

Phenotypes are the visible characteristics of an organism. In the case of humans, phenotypes are determined by things like eye color, hair color, hair texture, or skin color.

Genotype is the total genes, or genome, of an organism, whether they are expressed or not, visibile or not.

For example, a brown-eyed person can have both a dominant gene encoding for brown eye color, and a recessive gene encoding for blue eye color. Phenotypically, this person has brown eyes, but his genotype includes both brown eyes genes and blue eyes genes.

Phenotype could have been distinguished from genotype when the firs multicellular organisms emerged.

8 0

3 years ago

Walton Company paid $94,000 to purchase a machine on January 1, 2017. During 2019, a technological breakthrough resulted in the

Sidana [21]

Answer and Explanation:

The computation of total avoidable costs is shown below:-

Particulars Keep old machine Buy New machine

Opportunity cost of

buying the old

machine $44,000

Purchase amount $117,000

Operating expenses $208,000

($52,000 × 4 years)

Operating expenses

($7,000 × 4 years) $28,000

Total avoidable costs $252,000 $145,000

b. The new machine cost is lower to the lower one so it can be replaced.

3 0

3 years ago