Below is the complete list of items in processing for 5,000 gallons:
Direct material rate for 5,000 gallons is $5,000,While the conversion rate for 5,000 gallons in 70% completed is 1,225.Total Complete list of the items in process is $6,225Direct Materials cost for 60 gallons is 66,000,Direct labor rate is 10,500factory overhead applied for the month is 7,275 therefore, total production cost is amounting to $90,000
Total assets: $3,450
Total liabilities and equity: $3,450
Explanation:
Cash: $2635
Equipment: $815
Total assets: $3,450
Accounts Payable: $185
Owner's Equity: $3,450 - $185 = $3,265
Total liabilities and equity: $3,450
Answer:
a. Commission
Explanation:
The commission payment system is based on an employee's output, mostly sales achieved. The commission is usually a percentage of the total sales per stipulated time, say weekly, biweekly, or monthly. In the commission-based payment, the more output an employee has, the more money they earn.
The scenario in the case is commission based. For every $100 worth of sales, the payment is $15. The more the sales, the higher the earnings.
Answer:
c.$16,112
Explanation:
Since the payment of $3,500 per year is to be paid for 4 years, starting immediately, therefore the future value of annuity will be determined to calculate the amount that you will have after 4 years.
Future value of annuity=(1+i)*R[((1+i)^n-1)/i]
R=Payment to made per year=$3,500
i=interest rate=5.7%
n=number of payments to be made in future=4
Future value of annuity=(1+5.7%)*3,500[((1+5.7%)^4-1)/5.7%]
=$16,112
So the answer is c.$16,112
Answer: at risk, despite liability protection of a corporation.
Explanation: