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skelet666 [1.2K]
2 years ago
11

A negotiable instrument can function as a substitute for cash.

Business
1 answer:
andreyandreev [35.5K]2 years ago
5 0

1.A negotiable instrument can function as a substitute for cash.- TRUE

2. a time draft is payable at a definite future time. TRUE

3. promissory note payable to "bearer" is not negotiable. - FALSE (It is negotiable)

4. A certificate of deposit is a type of note. - TRUE

5. A signature can consist of a word, mark, or symbol. - TRUE

6.An instrument that promises to pay "in gold" can be negotiable.- FALSE ( Anything payable in the form of a commodity like gold cannot be negotiable)


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Dobles Corporation has provided the following data from its activity-based costing system: Activity Cost Pools Estimated Overhea
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Answer:

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The unit product cost of product D28K is:

$144.01

Explanation:

a) Data and Calculations:

Activity Cost Pools    Estimated Overhead Cost   Expected Activity

Assembly                     $228,060                            18,000 machine hours

Processing orders         $34,068                              1,200 orders

Inspection                    $125,560                               1,720 inspection hours

Units of D28K produced per year = 420 units

D28K requirements:

Machine hours     460

Orders                    80

Inspections             10

Direct materials cost per unit = $48.96

Direct labor cost per unit = $25.36

Activity rate:

Assembly                     $228,060/18,000 = $12.67 per machine hour

Processing orders         $34,068/1,200 = $28.39 per order

Inspection                    $125,560/1,720 = $73 per inspection-hour

Cost of D28K:

Machine hours     460 * $12.67 =   $5,828

Orders                    80 * $28.39 = $22,712

Inspections             10 * $73 =           $730

Total overhead costs =                $29,270

Overhead cost per unit = $69.69 ($29,270/420)

Unit Cost of D28K:

Direct materials cost per unit = $48.96

Direct labor cost per unit =        $25.36

Overhead cost per unit =          $69,69

Total unit cost =                         $144.01

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