Answer:
ethics in accounting
Explanation:
Ethics in accounting is a matter of both guidelines and principles. Specific standards are set by governing bodies and trade organizations who craft the rules of accounting, but personal values and professional ethics must guide accountants.
Answer:
400; 800
Explanation:
Contribution:
Product X:
= Selling price - Variable cost
= 100 - 70
= 30,
Product Y:
= Selling price - Variable cost
= 80 - 40
= 40,
Product Z:
= Selling price - Variable cost
= 25 - 20
= 5
Machine hours required :
Product X:
= Machine time per unit × Monthly demand
= 3 × 300
= 900,
Product Y:
= Machine time per unit × Monthly demand
= 2 × 200
= 400,
Product Z:
= Machine time per unit × Monthly demand
= 1 × 500
= 500
Contribution per machine hour:
Product X = Contribution ÷ Machine time per unit
= 30 ÷ 3
= 10,
Product Y = Contribution ÷ Machine time per unit
= 40 ÷ 2
= 20,
Product Z = Contribution ÷ Machine time per unit
= 5 ÷ 1
= 5
It is highest for Y, so produce maximum amount of Y, then X and then Z
Y needs 400 hrs, we are left with 800 hours, so produce 800 hours of X.
Answer: 20,816.215
Explanation:
Given that:
A deposit of $1000 at 4% interest compounding is defined by the growth function:
v(t) = 1000e^0.04t
Where t = number of years.
Find the average value during the first 40 years (that is, from time 0 to time 40.)
(That is t = 0,...,40)
For ease, we can use a python list comprehension to get our values.
v = [1000*2.7182818**0.04*t for t in range(41)]
V gives a list of the value of the deposit from year 0 till 40 years after the deposit.
Average = sum of compounding deposits / number of years
Sum of compounding deposits = sum(v) = $853464.8344
Number of years = len(v) = 41
Hence, average = $853464.8344 / 41
Average = $20,816.215
Answer:
The correct answer is D.
Explanation:
Giving the following information:
Maker Co. discovered that in the prior year it incorrectly calculated depreciation expense and reported $75,000 in depreciation expense instead of the correct depreciation expense of $50,000. The tax rate for the current year was 35%.
We need to calculate two different impacts:
Accumulated depreciation= actual depreciation - original depreciation
Accumulated depreciation= 50,000 - 75,000= 25,000 overstated
Now, the effect on income:
Savings in tax= 25,000*0.35= $8,750
Answer:
Predetermined manufacturing overhead rate= $2.15 per direct labor hour
Explanation:
Giving the following information:
It takes 80,900 direct labor hours to manufacture the X-1 and 93,500 direct labor hours to manufacture the X-2 Line.
Total overhead= 225,000 + 149,960= $374,960
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 374,960 / (80,900 + 93,500)
Predetermined manufacturing overhead rate= $2.15 per direct labor hour
