Answer:
$36,000
Explanation:
The first step is to calculate the fair value of the new truck
(List price-cash paid with trade)-(original cost -accumulated depreciation)
= (36,000-30,000)-(24,000-16,000)
= 6000-8000
= loss of $2000
Therefore the cost of the new truck for financial accounting purposes can be calculated as follows
(Original cost- accumulated depreciation)+cash paid with trade-loss
= (24,000-16,000)+30,000-2000
= 8,000 + 30,000 - 2,000
= 38,000-2,000
= $36,000
Hence the cost of the new truck for financial accounting purposes is $36,000
Was horrible for growing crops if I remember correctly
Answer:
Overhead absorption rate
= <u>Budgeted overhead </u> x 100
Budgeted direct labour cost
= <u>$400,000 </u> x 100
$2,000,000
= 20% of direct labour cost
Overhead applied
= 20% x $1,800,000
= $360,000
The balance in the factory overhead account is $360,000 debit
The correct answer is B
Explanation:
In this case, we need to calculate the overhead application rate, which is the ratio of budgeted overhead to budgeted direct labour cost multiplied by 100. Overhead applied is calculated as overhead application rate multiplied by actual direct labour cost.
Answer: Option B and C
Explanation: In simple words, oligopoly refers to the market structure in which there are few firms operating at a huge level and selling products that are close but not absolute substitutes of each other.
The high level of investment and too much of legal formalities makes it difficult to entry in such industries. Firms in such industries produce identical goods thus they do not compete in the amaretto with respect to price.
the firms operate their market on the basis of non price factors such as advertisements but still are mutually interdependent on each other as a minor decrease in price of other can deregulate the demand in the whole industry. Automobile sector is one the primary examples of oligopoly.
