Answer:
C. Credit to Cost Of Goods Sold
Explanation:
Over allocation refers to the scenario of assigning more than actual manufacturing overhead costs. This means profits would be understated in such a scenario and costs overstated.
The journal entry for adjustment of overallocated manufacturing overheads is:
Manufacturing Overheads A/C Dr.
To Cost Of Goods Sold A/C
(Being rectification entry for over allocated manufacturing overheads recorded)
Cost of Goods Sold is an expense and expenses are debited. A credit to such an account reduces it's balance as in the case above.
Answer: Option D
Explanation: The scope of providing better quality services in case of tax consultancy is quite difficult as the tax rates and rules are already set and there is little area for flexibility.
However, the manner of providing service could be changed maximizing the satisfaction of the customer or such areas of service could be covered which are not provided by the other firms.
Hence from the above we can conclude that the correct option is D.
Answer:
Political risk
Explanation:
Investment is an example of Political risk of the following risks?
Total output of an economy can be divided into its alternative uses by considering who bought the output. when other countries purchase part of an economy's output, this is called Gross Domestic Product [GDP],
<h3>Gross Domestic Product</h3>
The total monetary or market worth of all the finished goods and services produced within a nation's boundaries during a certain time period is known as the gross domestic product (GDP). It serves as a thorough assessment of the state of the economy in a particular nation because it is a wide indicator of total domestic production.
Although it is often calculated on a yearly basis, GDP can also be computed on a quarterly basis. For instance, the US government estimates the annualized GDP for the entire year as well as each fiscal quarter.
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Answer:
The correct answer is D.
Explanation:
Giving the following information:
An outside company has offered to supply one component, part number X76, for $12 each. Ring uses 22,000 of these components per year. Costs of X76 are as follows: Direct materials $3.00 Direct labor $1.50 Variable overhead $2.75 Fixed overhead $5.00 Suppose that 30% of the fixed overhead is avoidable if part X76 is not made by Ring.
Buy= 12*22,000= 264,000
Fixed overhead= (5*0.70)*22,000= 77,000
Total= $341,000
Make in-house:
Direct material= 3
Direct labor $1.50
Variable overhead $2.75
Fixed overhead $5.00
Total unitary cost= 12.25
Total cost= 12.25*22,000= $269,500