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A process cost summary for a production department accounts for all costs assigned to that department during the period plus cos

tigry1 [53]

Explanation:

The process cost shows the summary of the activities related to the production. It includes the cost of goods completed & transferred units and the ending work in process inventory.

So, the given statement is true

The indirect cost are come under the manufacturing overhead cost. So, it would be charged to overhead control account

Thus, the given statement is false.

The direct labor includes that labor which is directly related to the production process of a product. So the single production department is likely to be a direct labor

Thus, the given statement is true.

To record the allocation of overhead, the following journal entry is required

Work in Process Inventory, Baking Dept A/c Dr $24,500

To Factory overhead A/c $24,500

(Being the overhead allocation is recorded)

The computation is shown below:

= Direct labor cost × allocation rate

= $10,000 × 245%

= $24,500

Thus, the given statement is true.

7 0

3 years ago

In San Francisco there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is inf

Verdich [7]

In San Francisco, there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is influenced by factors such as tastes, price, and location. This market is option (b) i.e, monopolistically competitive.

<h3>What is monopolistically competitive?</h3>

An industry with a lot of companies offering similar (but not identical) replacement goods or services is known as one with monopolistic competition. In a monopolistic competitive industry, there are few barriers to entry and exit, and no firm's decisions directly affect those of its rivals.

Monopolistic competition is characterized by a number of features.

slight variations in the goods and services,
Free access to the market and exit
many businesses
Profits from incomplete consumer knowledge

Consumer electronics, apparel, restaurants, and hair salons are a few examples of industries with monopolistic competition. Each business delivers goods that are comparable to those of other businesses in the same sector. They can, however, set themselves out through branding and marketing.

To know more about monopolistic competition refer to: brainly.com/question/13686157

#SPJ4

6 0

1 year ago

Planning: Assessing Audience Needs [LO-2] For each communication task that follows, write brief answers to three questions: Who

Mice21 [21]

Answer:

a. Audience’s: Appliance producer

Audience’s general mentality towards subject: The apparatus maker must treat this on need, as lawful results are related with it

Audience’s has to know: The objective that has occurred in the installment procedure and the purpose for the postponement

b. Audience’s: Smartphone shoppers and devotees

Audience’s general mentality towards subject: The customers will pay attention to the promotion on the off chance that they have a prerequisite for a cell phone. The general fans will be worried about the one of a kind highlights of the contribution

Audience’s has to know: The highlights offered and the cost at which the item will be accessible

c. Audience’s: Top administration

Audience’s general disposition towards subject: The top administration must be interested to comprehend the target behind the proposition of combining 4 deals locales into 2

Audience’s has to know: The target of the proposition and the advantages that the organization may procure from it

d. Audience’s: Citizens in the area

Audience’s general demeanor towards subject: The individuals needing such administrations will be energized with the decreased rates. The individuals not having any such prerequisite, won't give it much thought

Audience’s has to know: The rate in decrease of cost just as the rundown of administrations offered in that cost

e. Audience’s: Hiring supervisor of organization

Audience’s general mentality towards subject: The enlisting supervisor will show intrigue on the off chance that he has an opportunity for comparable profile

Audience’s has to know: The ranges of abilities and skills of the candidate and the properties, which makes him not the same as the others

f. Audience’: Accounting directors

Audience’s general demeanor towards subject: The bookkeeping supervisors will esteem the correspondence, as it is very basic for their work

Audience’ has to know: The administrations offered by the counseling firm and the value charged by them

8 0

3 years ago

3. Colloids are used in food preparations like in baking<br>pastries and cakes.yes or no

Reil [10]

Yes they colloids are used in food perparations like pastries and cakes

8 0

2 years ago

Revenue on account amounted to 54,000. Cash collections of accounts receivable amounted to $2,300. Expenses for theperiod were 5

Georgia [21]

Answer:

Option (D) is correct.

Explanation:

Given that,

Revenue on account = $54,000

Cash collections of accounts receivable = $2,300

Expenses for the period = $52,100

company paid dividends = $450

Net income for the period:

= Revenue on account - Expenses for the period

= $54,000 - $52,100

= $1,900

Therefore, the net income for the period is $1,900.

8 0

3 years ago