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bazaltina [42]
3 years ago
6

Improving stock prices and increasing factory production _____ why economists _____ continuing economic improvement in the next

quarter.
a. âis, predict
b. âare, predicts
c. are, predict
d. âis, predicts
Business
1 answer:
Nata [24]3 years ago
3 0

Answer: C. are, predict

Explanation:

Improving stock prices and increasing factory production are why economists predict continuing economic improvement in the next quarter.

When there is an increase in the prices of stock and factory production, this can bring about an improvement in the economy as it will lead to economic growth as there will be increase in demand which ultimately leads to employment opportunities and also rise in the standard of living of the people.

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A firm incurs $35,000,000 of actual OH costs. It has a PDOH rate of $450 per machine hour and 100,000 machine hours were actuall
ella [17]

Answer:

c.  Debit: Overhead Control $10,000,000  

Credit: Cost of Goods Sold $10,000,000

Explanation:

The journal entry to close the overhead account is presented below:

Overhead Control A/c Dr $10,000,000

       To Cost of Goods Sold A/c  $10,000,000

(Being the overhead account is closed)

The computation is shown below:

= Applied overhead - actual overhead

where,

Applied overhead equal to

= $450 × 100,000 machine hours

= $45,000,000

And, the actual overhead is $35,000,000

So, the amount would be

= $45,000,000 - $35,000,000

= $10,000,000

Since the applied overhead is greater than the actual overhead, so we debited the overhead control account and credited the cost of goods sold account

5 0
3 years ago
As a sales clerk for a national chain that sells outdoor gear, Joanna is at the lowest level in the organizational hierarchy. Ne
Allisa [31]

Answer: Decentralized structure

         

Explanation: In simple words, it refers to the organisational structure in which most of the decisions regarding the operations are made by the managers working on mid and lower level. The top managers in such a structure takes only those decisions which are of highest priority to the organisation.

In the given case, Joanna is the lower level managers but still contributes frequently in decision making.

Hence we can conclude that her organisation has decentralized structure.

4 0
3 years ago
Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the fi
valentina_108 [34]

Answer:

a.Income Statement using variable costing

                                                                     2016                 2017

Sales                                                     $7,872,000      $9,840,000

Less Cost of Sales                              ($1,338,240)      ($1,672,800)

Opening Stock                                     <em>        $0         </em>      <em> $334,560</em>

Add Cost of Goods Manufactured      <em>$1,672,800 </em>      <em>$1,338,240</em>

Less Closing Stock                              <em> ($334,560) </em>         <em>     $0</em>

Contribution                                        $6,533,760       $8,167,200

Less Expenses :

Fixed manufacturing costs                ($3,075,000)     ($3,075,000)

Selling Expenses : Variable                  ($862,920)      ($1,082,400)

Selling Expenses : Fixed                       ($500,000)       ($500,000)

Net Income / (loss)                               $2,095,840       $3,509,800

b.Income Statement using  absorption costing

                                                                     2016                 2017

Sales                                                     $7,872,000      $9,840,000

Less Cost of Sales                              ($3,798,240)      ($5,362,800)

Opening Stock                                     <em>        $0         </em>      <em> $949,560</em>

Add Cost of Goods Manufactured      <em>$4,747,800 </em>      <em>$4,413,240</em>

Less Closing Stock                              <em> ($949,560) </em>         <em>     $0</em>

Gross Profit                                           $4,073,760          $4,477,200

Less Expenses :

Selling Expenses : Variable                  ($862,920)      ($1,082,400)

Selling Expenses : Fixed                       ($500,000)       ($500,000)

Net Income / (loss)                                 $2,710,840       $2,894,800

c. Reconciliation of Absorption costing Net Income to variable costing profit

                                                                                   2016                      2017

Absorption Costing Net Income                           $2,710,840       $2,894,800

Fixed Manufacturing  Cost in Opening Stock             $0                $615,000

Fixed Manufacturing Cost in Closing Stock         ($615,000)               $0

Variable Costing Net Income                               $2,095,840       $3,509,800

Explanation:

Part a.

Under Variable Costing, Only Variable Manufacturing Costs are treated as Product costs. Fixed Manufacturing costs and All Non-Manufacturing Costs are treated as period costs.

Part b

Under Absorption Costing, Both Variable Manufacturing Costs  and  Fixed Manufacturing costs are treated as Product costs. All Non-Manufacturing Costs are treated as period costs.

Part c.

The difference between the Net Income under Absorption Costing and Variable Costing is due to Fixed Manufacturing Costs that are deferred in Inventory. This needs to be reconciled accordingly.

5 0
4 years ago
Is used to record and accumulate all the costs assigned to a specific job.
Mashutka [201]
The Correct Answer is Option D. (Job-Cost record)
6 0
3 years ago
The following data relates to units shipped and total shipping expense for the Adams Company. Month Units shipped Total Shipping
Ann [662]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Month - Units shipped - Total Shipping Expense

January: 3 - $1,300

February: 6 - $1,600

March: 4 - $1,400

April: 5 - $1,500

May: 7 - $1,700

June: 8 - $1,800

July: 2 - $1,200

First, we need to calculate the unitary variable cost using the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (1,800 - 1,200) / (8 - 2)

Variable cost per unit=  100

Now, we can calculate the fixed costs:

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 1,800 - (100*8)

Fixed costs= 1,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 1,200 - (100*2)

Fixed costs= $1,000

Finally, the total cost formula:

Total cost= 1,000 + 100X

X= units shipped

4 0
3 years ago
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