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andrew11 [14]
3 years ago
8

In a process-costing system, the cost of abnormal spoilage should be A. Included in the cost of units transferred out. B. Prorat

ed between units transferred out and ending inventory. C. Ignored. D. Treated as a loss in the period incurred.
Business
1 answer:
Olin [163]3 years ago
4 0

Answer:

D. Treated as a loss in the period incurred.

Explanation:

The process-costing system is used by firms that produce goods that goes through a set of manufacturing departments i.e it's used when firms mass produce nearly identical or similar units through various processes.

Under process-costing system, direct costs of production are accumulated,  summarized, and then assigned to all the units produced during the period.

Thus, a single product cost is calculated by dividing process cost in each manufacturing department by the respective units produced during the production period.

Some organizations that use the process-costing system are oil refineries, chemical processing companies, eraser manufacturing companies, and food production companies.

In a process-costing system, the cost of abnormal spoilage should be treated as a loss in the period incurred.

The abnormal spoilage refers to the cost exceeding normal level, associated with spoiled units of a manufacturing process. It should be treated as a loss in the period incurred because it cannot be recovered

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Answer:

The payment made by Cordelia

Explanation:

In the scenario it stated clearly that Rupert filled out what would have been a normal application form for operational license in the country

However Cordelia using connections was able to schedule a meeting with the government official that <u>has the authority to determine which foreign companies get licenses, and pays him $200 to approve their license.</u>

Cordelia payment is nothing short of bribery and corruption because it is not a legally required payment and the motive was clearly to unduly influence the minister to approve their license.

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6 0
3 years ago
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Which type of loan requires that you pay the interest accumulated during college?
butalik [34]
B. the subsidized federal loan /////////////////////

7 0
3 years ago
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Splish Inc. had pretax financial income of $139,400 in 2020. Included in the computation of that amount is insurance expense of
RoseWind [281]

Answer:

The Journal entry and their narrations is shown below:

Explanation:

The Journal entry is shown below:-

Income tax expenses Dr,         $43,140

        To income tax payable                    $40,140

         To Deferred tax liability                  $3,000

(Being Income tax expenses for the year is recorded)

Working Note 1:-

Income as per tax purpose

Pretax financial income                   $139,400

Add: permanent difference

Disallowed insurance expenses     $4,400

Less: Timing difference

Excess depreciation allowed            $10,000

Income as per tax purpose                 $133,800

Working Note 2

Income tax payable

= Income tax rate × Income as per tax purposes

= 30% × $133,800

= $40,140

Working Note 3

Deferred tax liability = Timing difference × Tax rate

= $10,000 × 30%

= $3,000

6 0
2 years ago
1. What is the difference between structural and cyclical unemployment? In this context, what is the difference between Europe a
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Structural Unemployment is one that is permanent or long lived and Cyclical Unemployment does not have enough demand in the economy.

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Structural unemployment results with a permanent dislocations within markets and a mismatch between skills in growing company needs. When the overall goods and service in an economy cannot support full employment that results with Cyclical unemployment.

The difference between Europe and US is, US has 50 states under one country whereas Europe is a union between countries.

Krugman uses the tax savings to buy their own stock, The evidence is overwhelming.

7 0
3 years ago
Ano ang kasingkahulugan ng naalimpungatan.​
topjm [15]
Im sorry , i don’t understand .
but have a good day <33
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3 years ago
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