In a process cost system, the application of factory overhead usually is recorded as an increase in work in process inventory control.
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What is the process costing system?</h3>
- When a large number of similar products are manufactured, a process costing system accumulates costs.
- A process costing method is used by any large-scale firm who produces huge quantities of identical commodities.
- A petroleum refinery is a perfect example of a process costing environment since it is hard to trace the cost of a specific unit of oil as it passes through the refinery.
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Answer:
B) 2
Explanation:
$8,000 divided by 20 is 400, $400 divided by $200 is 2 courses per employee.
Answer:
True
Explanation:
Payback method considers the time that a project takes to payback the capital invested in it from its net cash flows.
Projects that have a short payback period are preferred by investors because the capital invested takes a shorter time to be repaid. That is shorter risk period.
Net present value is a consideration of the expected future cash flows in a project. It is the difference between the net present value of an asset and the present value of cash flows over a certain period. It's calculation is based on a lot of assumptions so it is probe to error.
Payback method is preferred because the effective lives of information system tend to be short and shorter payback projects are often desirable.
Answer:
Annual depreciation for the first two years is $4,910.00
Book value at the end of year 2 $44,180.00
depreciation expense for each of the remaining years after revision is $21,110.00
Explanation:
The initial depreciation =cost-salvage value/useful life
cost was $54,000
salvage value is $4,900
useful life was 10 years
initial depreciation charge=($54,000-$4,900)/10=$4,910.00
Book value at the end of year 2=cost-depreciation for first 2 years
book value at the end of year 2=$54,000-($ 4,910*2)=$44,180.00
Depreciation expense for remaining years=($44,180-$1,960)/2=$21,110.00
Answer:
d. a comparative advantage in capital goods.
Explanation:
I'm not sure how these numbers should go, but I think it should be:
Capital Goods Consumption Goods
Ironbridge 32 40
Broseley 40 80
Ironbridge's opportunity cost to produce 1 capital good = 40 / 32 = <u>1.25</u> consumption goods
Ironbridge's opportunity cost to produce 1 consumption good = 32 / 40 = 0.8 capital goods
Broseley's opportunity cost to produce 1 capital good = 80 / 40 = 2 consumption goods
Broseley's opportunity cost to produce 1 consumption good = 40 / 80 = <u>0.5</u> capital goods
Ironbridge has a comparative advantage int he production of capital goods (lower opportunity cost) while Broseley has a comparative advantage in the production of consumption goods.
Opportunity costs refers tot he extra costs or benefits lost resulting from choosing one activity or investment over another alternative. In this case,, if Ironbridge wants to produce 1 capital good, it will have to forego 1.25 consumption goods.
