Answer:
D) Overhead was underapplied by $4,000.
Explanation:
Overhead is underapplied when the actual balance in the manufacturing overhead control account is larger than the balance in the applied manufacturing overhead account.
In this case, the balance of the manufacturing overhead control is $124,000 while the balance of the applied manufacturing overhead account is $120,000. This means that actual overhead costs were $4,000 higher than budgeted.
Answer:
Cost of goods purchased= $2,350,000
Explanation:
Giving the following information:
Beginning inventory 2006= ending inventory 2005= $200,000
Ending inventory 2006= $350,000
COGS 2006= $2,200,000
<u>To calculate the purchases for 2006, we need to use the following formula:</u>
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
2,200,000 = 200,000 + cost of goods purchased - 350,000
2,200,000 - 200,000 + 350,000 = cost of goods purchased
cost of goods purchased= $2,350,000
Answer:
An example of external failure cost is:
Scrap and rework during production
Explanation:
External failure cost is the concept used in the finance, business, and management sciences to qualify the loss of a business after a product is sold. Examples involve lawsuits, legal fees, returns, etc. Now, the argument behind the answer is that warranty claims on handling are not part of the company, but the carrier and the retailer company. but scrap and rework during production is an external failure cost because after the production and selling scrap and rework during production will remain.
Yes this is true but you dont have to pay it back right after but it's best you pay it off before you buy something else so you dont go in debt
<span>5. Identifies a product with a mark which can be "read" by electronic scanners.
UPC is a machine scannable bar code that's used in the United States, Canada, United Kingdom, and many other countries for tracking items in stores. The very first UPC marked item scanned at a retail checkout was a10-pack of Wrigley's Juicy Fruit chewing gum on June 26, 1974. This item was put on display in the Smithsonian National Museum of American History in Washington, D.C.
With that in mind, let's look at the options and see what does or does not make sense.
1. Was required by the federal fair packaging and labeling act.
* Since this act requires "consumer commodities" to be labeled with their identity, name & place of manufacturer, and its quantity, this is far more information than a 10 digit code can encode. So this answer is wrong.
2. Slows down the retail checkout process.
* If the UPC code slowed things down, that would increase the cost to the retailers for no gain. In fact, the use of the UPC has reduced checkout times and has improved accuracy. So this choice is also wrong.
3. All of the above are true.
* Since the above 2 are wrong, so is this.
4. Involves placing the price per ounce on or near the product.
* The UPC identified what the item is. The price doesn't appear on the UPC. So this too, is wrong.
5. Identifies a product with a mark which can be "read" by electronic scanners.
* This is exactly what the code does. So this is the correct choice.</span>
