Answer:
The inspecting costs should be allocated to the Basic model using ABC costing is $30,600
Explanation:
The computation of the inspecting cost is shown below:
= Total number of basic model inspection + the total number of inspection
where,
Total number of basic model inspection equals to
= Number of units produced ÷ every units produced
= 3,400 units ÷ 100
= $34
And, the total number of inspection equals to
= Total inspection cost ÷ number of inspection
= $84,600 ÷ $94
= 900
The number of inspection includes
= total number of basic model inspection + the total number of luxury model inspection
= $34 + $60 (600 units ÷ 10)
Now put these values to the above formula
So, the value would equal to
= 900 × $34
= $30,600
Answer:
Explanation:
A This scenario describes a payroll fraud ; This is a form of fraud where an employee or an employer manipulates the payroll system in order to fraudulently receive an un earned wages.
B The employees that Connie was paying to their account that she controls are called Ghost employees. These are fictitious person put on a payroll for fraud purposes.
C The fact that it took the company 5 years to discover the fraudulent practice indicates a weak internal control environment
D
- Some of the actions that the company failed to do are
- No proper authorization in place before employees are added to payroll
- No segregation of duties as Connies appears to have been the person that add employees to payroll , approve and also disburse salary
- There has been no headcount of employees for a long time
- The entire payroll system has not been audited and reviewed for a long time
Answer:
Debit cash $7800
Credit unearned revenue $7800
Explanation:
The amount of $7800 was received in cash on October 1. Therefore, the cash account will be debited with the $7800 received.
The corresponding credit entry of $7800 will be to the unearned revenue account since the revenue has not been earned. Revenue will be earned at the end of each month of the lease. This account will subsequently debited each time the revenue is earned i.e at the end of each lease month.
The answer is the ADA or also known as the Americans with
Disabilities Act of 1990, where in their main focus is the people who are
disabled in means of having them to be provided with benefits in order to accommodate
their physical limitation as a way of helping them.
Answer:
Explanation:
Depreciation : Depreciation is a decrease value of the fixed assets due to wear and tear, obsolesce, etc.
In the given question, the accumulated depreciation is $720 and the asset is purchase on Dec 1 with $3,600 value
So on the date of December 31, the adjusted value would be
= $720 × 1 ÷ 12 months
= $60
As on December 1 the asset is purchased , and we have to prepared the financial statement on December 31 . So, from December 1 to December 31, it has 1 month which is not yet recorded.
Hence, the adjusted entry would be :
Deprecation Expense A/c Dr $60
To Accumulated Depreciation A/c $60
(Being adjusted entry recorded)
