An unfavorable variance is produced
Answer:
c.used by the department
Explanation:
Since in the question it is mentioned that Miller Safety Equipment uses multiple production department rates so that it applied the overhead to products.
And according to that the allocation of support department cost to production
Here, the multiple production department rates are used so the support activity should be only used by the department.
Answer:
$34,500
Explanation:
Depreciation is the systematic allocation of the cost of an asset to p/l based on its estimated useful life.
Assets are initially recorded at cost be carried subsequently at the net book value which is the cost less residual or salvage value then divided by the estimated useful life. Mathematically, using the straight line method,
Depreciation = (cost - residual value)/useful life
let the residual value ( which is the estimated value obtainable from the disposal of the asset at the end of its estimated useful life) be p
4000 = (66500 - p)/8
32000 = 66500 - p
p = 66500 - 32000
= $34,500
Spencer corp.'s attorney calculates that the company will ultimately control to pay between $250,000 and $500,000 relating to current litigation. spencer should accrue a contingent liability and loss of: $250,000.
<h3>What is contingent liability?</h3>
Liabilities that may be incurred by a company dependent on the result of an uncertain future event, such as the result of an ongoing lawsuit, are known as contingent liabilities. When they are both probable and reasonably estimable as a "contingency" or "worst case" financial consequence, these obligations are not recorded in a company's records and are not displayed on the balance sheet.
The kind and size of the contingent liabilities may be described in a footnote to the balance sheet. It is feasible to categories a loss's possibility as remote, improbable, or probable. It can be known, reasonably estimable, or not reasonably estimable whether a loss can be estimated. It might or might not happen.
Hence, Spencer corp.'s attorney calculates that the company will ultimately control to pay between $250,000 and $500,000 relating to current litigation. spencer should accrue a contingent liability and loss of: $250,000.
To learn more about contingent liability refer to:
brainly.com/question/17371330
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Option C
All of the following are considered generic business-level strategies EXCEPT: product diversification.
<h3><u>
Explanation:</u></h3>
A generic strategy is a common way of placing a firm in an industry. Business-level strategies lead companies' activities in particular distinct line of business they are in. Four generic business-level strategies are (1) cost leadership, (2) differentiation, (3) focused cost leadership, and (4) focused differentiation.
In exceptional cases, firms can allow both low prices and individual features that consumers find useful. Product diversification is the work of developing the primary market for a product. This procedure is practiced to improve the sales correlated with an actual product line
