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3 years ago

All of the following statements are correct when referring to process costing except: _______

Business

1 answer:

Nesterboy [21]3 years ago

3 0

Answer:

The answer your looking for is option A - Process costing would be appropriate for a jeweler who makes custom jewelry to order.

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Cost of goods manufactured during the year is $240,000, and work in process inventory on December 31 is $50,000. Work in process

Zinaida [17]

Answer:

$165,000

Explanation:

The first step is to calculate the work in process inventory

= 50,000/40/100

= 50,000/0.4

= 125,000

Therefore the total manufacturing cost can be calculated as follows

= 240,000-125,000+50,000

= 115,000+50,000

= 165,000

Hence the total manufacturing costs is $165,000

8 0

3 years ago

Alice purchases a rental house on August 22, 2017, for a cost of $174,000. Of this amount, $100,000 is considered to be allocabl

sergij07 [2.7K]

Answer:

correct option is c. $1,364

Explanation:

given data

purchases house = $174,000

cost of the home = $100,000

cost of the land = $74,000

solution

we know that here MACRS depreciation deduction is here on the $100000

because home only residential real property

and land is not depreciated assets

so here depreciation rate is 1.364 %

so that maximum depreciation deduction allowed is = $100,000 × 1.364

maximum depreciation deduction allowed = 1364

so correct option is c. $1,364

3 0

3 years ago

In what areas is Leslie's underspending<br> hurting her budget?

Jlenok [28]

Leslie's budget is hurting in the areas of transportation, groceries, phone and dining out.

<u>Explanation:</u>

For transportation, cash is required for every day. So Leslie is spending more on transportation every month. Forgoing back and forth out anyplace she will burn through cash on transportation.

She is likewise spending cash on goods. Staple goods will be an essential one for living these days. So the financial backing is harming here.

She is spending another hand on the telephone and eating out. For the telephone, she will energize each month. She will feast out with companions each day.

5 0

2 years ago

Read 2 more answers

You are given the following information for O'Hara Marine Co.: sales = $75,500; costs = $35,200; addition to retained earnings =

pshichka [43]

Answer:

O'Hara Marine Co.

Depreciation Expense is:

$13,903

Explanation:

a) Data and Calculations:

sales = $75,500;

costs = $35,200;

addition to retained earnings = $9,580;

dividends paid = $8,420;

interest expense = $2,620;

tax rate = 23 percent

Net Income:

addition to retained earnings = $9,580;

dividends paid = $8,420

Total net income = $18,000

Pre-tax Income = $18,000/0.77 = $23,377

Income tax (23%) of $23,377 = $5,377

After Tax Income = $18,000 ($23,377 - 5,377)

Depreciation:

sales = $75,500

costs = $35,200

Gross profit = $40,300

Less interest (2,620)

Less net income (23,777)

Depreciation = $13,903

6 0

2 years ago

A situation occurring when the value of a nation’s exports exceeds the value of its imports is called a trade surplus.

Dafna11 [192]

Answer:

hey matthew

Explanation:

Is TRUE.

Trade Surplus. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. A trade surplus occurs when the result of the above calculation is positive. A trade surplus represents a net inflow of domestic currency from foreign markets.

6 0

3 years ago

Read 2 more answers