Answer: $1,365.91
Explanation:
Shortfall = Expected GDP - Actual GDP
Expected GDP in 2009 is based on the premise that the economy has grown by 3% since 2007.
Expected GDP in 2009 will therefore be;
= 15,762 * ( 1 + 3%)²
= $16,721.91
Shortfall = 16,721.91 - 15,356
= $1,365.91
While making adjustment of the journal entries for the accrued salaries of $600 and current salaries of $1500, the salaries expense amount should be debited for an amount of $900.
<h3>What are journal entry adjustments?</h3>
Journal entries adjustments are the amount that are adjusted at the end of the accounting period to avoid errors while preparing journal entries for the financial transactions.
The adjusted journal entries for the above transactions are attached with an image for reference.
Hence, option B; the salaries expense account will be debited for $900 in the journal entries adjustments.
Learn more about journal entries adjustments here:
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Employee benefits can be constructively viewed as a tool for competitive advantage. Intangible plan that does not affect the costs borne by a company government-mandated instrument cultural necessity tool for competitive advantage. Position that puts a company in a favorable or superior business situation.
Answer:
The answer is B.$21.19 per machine hour.
Explanation:
We have the expected total overhead cost next years = Total expected indirect labor + Total expected factory utilities = 8,320,000 + 155,500 = $8,475,500.
Total expected machine hour = 400,000 hours.
The company's plantwide overhead rate = Expected total overhead cost next years/ Total expected machine hour ( which is an overhead allocation base) = $8,475,500 / 400,000 = $21.19 per machine hour ( round to two decimal places).
So, the answer is B.$21.19 per machine hour.
Answer:
D) $22.5 Million
Step-by-step Explanation:
To calculate the cost of goods sold of minerals we first need to compute the depletion cost.
- Calculate Cost depletion:
Formula: × <em>U</em>
<em>Where:</em>
<em>APV = </em>Adjusted property Value.
<em>TR = </em>Total reserves.
<em>U = </em>Units extracted in a given period.<em> </em>
Data:
- APV: [$40 + (0.25 × $100) + $60] = 125,000,000
- TR: $20 million tons
- U: 2 million tons.
Putting values in the formula:
Depletion cost = × 2,000,000 = 12,500,000
- Calculate costs of goods sold:
CGS = (Depletion cost + wages and extraction costs)
CGS = 12,500,000 + 10,000,000 = $22,500,000
- The wages and other cost wasn't included in Depletion cost because it is an inventory cost which is supposed to be included in the cost of goods sold.