Which of the following would NOT shift an economy's PPF? *

The Minton Company has gathered the following information for a unit of its most popular product: Direct materials $ 7 Direct la

Blababa [14]

Answer: $14,500

Explanation:

Sales = 2,900 units × $19 per unit

= $55,100

Direct material = 2,900 units × $7

= $20,300

Direct labor = 2,900 units × $3

= $8,700

Variable Overhead = 2,900 units × 50% × 6

= $8,700

Variable shipping and other selling expense = 2,900 units × $1 per unit

= $2,900

Net profit from special order:

= Sales - Direct material - Direct labor - Variable Overhead - Variable shipping and other selling expense

= $55,100 - $20,300 - $8,700 - $8,700 - $2,900

= $14,500

Therefore, if the special order is accepted, Minton's operating profits will increase by $14,500.

8 0

2 years ago

If the Fed increases the discount rate, which of the following accurately describes the system, finally leading to a decline in

AnnyKZ [126]

Answer:

B

Explanation:

Reserves J: Excess reserves J: Loans J: Deposits ;Money supply

8 0

2 years ago

Exercise 19-08 a-b Oriole Corporation incurred the following costs while manufacturing its product.

telo118 [61]

Answer:

$371,700

Explanation:

The computation of the cost of goods sold is shown below:

Cost of goods manufactured = Direct materials used + Direct labor cost + Manufacturing overhead cost + beginning work in process inventory - ending work in process inventory

where,

Manufacturing overhead cost is

= Depreciation on plant + Factory supplies used + Property tax on plant

= $61,000 + $29,300 + $21,800

= $112,100

The cost of goods manufactured is

= $126,400 + $113,500 + $112,100 + $14,600 - $16,700

= $349,900

Now the cost of goods sold is

= Beginning finished goods + Cost of goods manufactured - ending finished goods

= $70,900 + $349,900 - $49,100

= $371,700

6 0

3 years ago

PharmY, Inc., is a U.S. GAAP reporter that is in the pharmaceutical industry. In the current year, PharmY incurred expenditures

Whitepunk [10]

Answer with Explanation:

Tangible assets fall under the scope of International Accounting Standard IAS-36 Property, Plant and Equipment which says that assets that qualify following conditions, must be capitalized:

Assets that have life expectancy of more than a year.
Benefits of the Assets are controlled by the entity that will flow towards the company.

Now here, the life expectancy of laboratory equipment is unknown and also that we don't know if the asset can be resold in the market or not. This means, if the asset has life expectancy is no more than a year and that the future benefits will flow towards the company then it must be capitalized otherwise it must be expensed out as per the guidelines of International Accounting Standard IAS-38 Intangible Assets, which says that the research cost prior to the development expenditure must be expensed out.

The other two costs are revenue expenditure and must be expensed out under the name research and development cost as per the guidelines of IAS-38.

4 0

2 years ago

Colombo Enterprises has a defined benefit pension plan. At the end of the reporting year, the following data were available: beg

nordsb [41]

Answer:

The correct answer is $12,400.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the pension expense by using following formula:

Pension expense = Interest cost + Service cost - Expected return on plan assets.

Where, Interest cost = $6,400

service cost = $17,000

Expected return on plan assets = $11,000

So, by putting the value, we get

Pension expense = $6,400 + $17,000 - $11,000 = $12,400

Hence, Journal entry for the following are as follows:

Pension Expense A/c Dr. $12,400

To Cash $12,400

8 0

2 years ago