Answer:
$200,000
Explanation:
we must first determine the assessed value not taxed on Garth's old home:
market value of Garth's old home - assessed value = $250,000 - $175,000 = $75,000
now we subtract $75,000 from the market value of Garth's new home:
$325,000 - $75,000 = $250,000 = adjusted assessed value of Garth's new home
The taxable value of Garth's new home (for city taxes) = adjusted assessed value - homestead exemptions (for city taxes) = $250,000 - $50,000 = $200,000
Answer:
$6.7 per direct labor hour
Explanation:
Given:
Direct labor-hours = 20,000
Fixed manufacturing overhead cost = $94,000
variable manufacturing overhead = $2.00 per direct labor-hour
Actual manufacturing overhead cost for the year = $123,900
Actual total direct labor = 21,000 hours
Now,
Total Estimated Manufacturing Overhead
= 94000 + ( 2 × 20000 )
= $134,000
And,
Predetremined Overhead Rate =
or
Predetremined Overhead Rate =
or
Predetremined Overhead Rate = $6.7 per direct labor hour
Answer:
The correct option is (b)
Explanation:
Managerial accounting is for internal purpose for the managers for decision making. It is not mandatory as per GAAP, unlike financial accounting. Transactions are recorded as per the understanding of managers and not as per specific standards,
Managerial accounting focuses on data being relevant and not necessarily objective. Since, it caters to internal users, it is customized as per their requirement. Financial accounting, on the other hand needs to be highly objective as it caters to a wider audience who need transparent and reliable financial information.
Therefore, managerial accounting focuses on data relevance over data objectivity.