Answer:
The amount of overhead debited to Work in Process Inventory should be: a. $182,00
Explanation:
The Overheads are Applied in the Manufacturing Costs as:
Budgeted Rate × Actual Activity for the Month
At the End of the Period we would need to determined whether this amount of overhead is Over or Under Applied by comparing it to the actual overheads incurred of $180,000 (given)
In our Case, the predetermined overhead rate is 70% of direct labor cost
<em>Thus we need to find the Direct Labor Cost first</em>:
Total Labor Costs $360,000
<em>Less </em>Indirect Labor Costs<em> </em>$100,000
Direct Labor Cost $260,000
<em>Therefore Overheads applied would be determined as:</em>
= $260,000 × 70%
= $182,000
Answer:
C. People accept it in exchange for goods or services.
Explanation:
Money is a type of thing that is valuable because we know people accept it. Money can be used to purchase goods, and many other things. According to Subjecto.com, " Money can be used to purchase goods and services even though it is no longer backed by gold. Security measures prevent counterfeiting but do not add value." Seeing this, the only answer reasonable is C.
Hope this Helps!!
Answer:
Reduce supply. Customers generally reduce their purchases of luxury items when the economy falters.
Explanation:
During the recession, the number of unemployment will rise and the purchasing power that people have will be reduced.
When this happen, the supply of the diamond watches in the market will heavily outnumbered the number of consumers that afford to buy it. (this is applicable to all type of products, not only diamond watches)
Because of this, when expecting a recession in the future, companies tend to reduce the amount of supply to minimize their loss. They can resell it after market has been restabilized.
Answer: D. Companies can scan the codes to quickly enter data whenever products are received, moved, or shipped.
Answer:
Revenue could be of amount $33,836,000
Explanation:
As the selling price is not given in the question, only the cost of the inventory is given, So,
We assume that the Sales quantity is X and the Selling Price per unit be Y
Then,
Sales = X × Y ............... Equation (1)
Less : COSG = $33,836,000 ................ Equation (2)
Net Income = 1 - 2
If the selling price is equal to the cost of the inventory which is $33,836,000. So, the only revenue which is to be added is the amount of $33,836,000.
Note: It totally depend or grounded on the Sales value.
