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babunello [35]
3 years ago
10

Brad operates a storage business on the accrual method. On July 1 Brad paid $48,000 for rent on his storage warehouse and $18,00

0 for insurance on the contents of the warehouse. The rent and insurance cover the next 12 months. What is Brad's deduction for the rent and insurance?
Business
1 answer:
sineoko [7]3 years ago
4 0
Hi I neeed a dollar
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D. A and B

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g Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding
FromTheMoon [43]

Answer:

Total equivalent unit of material =   140,000 units

Explanation:

<em>Equivalent units are used to apportion cost between completed units and work in progress. They represent notional whole units which represent incomplete work. </em>

<em>Under the first in first method , to account for completed units during a production period the opening inventory units are assumed to completed first before newly the newly introduced units.</em>

<em>So we can work out the equivalents units as follows:</em>

<em>Fully worked units :These represent units started this period of production and completed in the same period. This is given as 110,000 units</em>

Equivalent units (EU)

<em>Item                           unit          Workings               EU</em>

Opening inventory     25,000     0% × 25,000     =   0

Fully worked            110,000    100% × 110,000 =   110,000

Closing inventory    30,000      100%× 30,000 =   <u>30,000</u>

Total equivalent unit of material                           <u>140,000</u>

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<em>Note that for the opening inventory already 100% material work has been done the preceding period , so there wont be any work left to be done in respect of materials.</em>

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3 years ago
Pastoria Enterprises has scheduled raw material purchases of $100,000 in January, $130,000 in February, and $150,000 in March. T
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Answer:

B

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The question asks to calculate how much will be disbursed by the company in February.

Firstly , we know that the company disburses 75% in the month of purchase and 25% during the month after purchase.

Now, 75% of $130,000 would be disbursed as February’s own payment:

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Also, we should not forget that the company disburses 25% of previous month during the current. That is 25/100 * 100,000 = 25,000

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The contrast error is committed when the rates rate people:
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Contrast error is one that occurs during performance rating where a person is not rated objectively, but against previous people who performed good or badly.

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