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Mars2501 [29]
3 years ago
8

Cherry Valley Lumber's (CVL) lumber mill produces boards of various sizes and quality specifications for the home construction i

ndustry. CVL incurs joint costs in the initial phases of processing raw timber, such as transporting the logs to the mill, removing the bark from the logs, and cutting rough-cut boards. After the split-off point, CVL incurs costs in the Planing Department to finalize the finished boards of various grades and sizes. Which of the following statements regarding the costs at CVL is true?
a. The costs to finish the boards after the split-off point will not be traced directly to the finished boards according to the various grades and sizes produced. The costs for transporting the logs, removing bark, and cutting the rough-cut boards before the split-off point will be traced to the final finished boards.
b. The costs for transporting the logs, removing bark, and cutting the rough-cut boards before the split-off point will not be directly traced to the final finished boards. All costs to finish the boards after the split-off point will be traced directly to the finished boards according to the various grades and sizes produced.
c. It will be impossible for CVL to directly trace any costs to the finished boards of various grades and sizes.
d. CVL will be able to directly trace all costs before and after the split-off point to the finished boards of various grades and sizes.
Business
1 answer:
Maurinko [17]3 years ago
6 0

Answer:

Cherry Valley Lumber's (CVL)

The statement regarding the costs at CVL that is true is:

b. The costs for transporting the logs, removing bark, and cutting the rough-cut boards before the split-off point will not be directly traced to the final finished boards. All costs to finish the boards after the split-off point will be traced directly to the finished boards according to the various grades and sizes produced.

Explanation:

This is why the costs at split-off are usually apportioned to the different categories of products based on some chosen criteria, e.g. sales value, size, etc.  However, after split-off, costs that are incurred can easily be traced to the various grades and sizes of boards produced.  This simply means that after split-off, costs become traceable and direct to each board category.

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4 0
3 years ago
Assume tax rates on single individuals are 10% on taxable income up to $9,275, 15% on income of $9,276 to $37,650 and 25% on inc
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Answer:

total  tax liability = $8771.25

Explanation:

given data

taxable income up to $9,275 single individuals = 10 %  

income of $9,276 to $37,650 = 15 %

income of $37,651 to $91,150 = 25 %

solution

we know here  amount upto  $9,275 is

amount upto  $9,275 =  $9,275 × 10% = $927.50     ..........1

and

amount  $9,276 to $37,650 = ( 37650 - 9276 ) × 15%  = $4257.45     ........2

and

amount $37,650 to $50,000 = ( 50000 - 37650) × 25% = $3587.50     ............3

so now add all 3 equation we get

total  tax liability = $927.5 + $4256.25 + $3587.5

total  tax liability = $8771.25

Tax Bracket rate amount

upto $          9,275 10% $     927.50

next (37650-9275) $        28,375 15% $ 4,256.25

remaining $        14,350 25% $ 3,587.50

total $        52,000  $ 8,771.25

8 0
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Eighty percent of your business comes from 20% of your
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Answer:

Stock prices follow a random walk with a trend because:__________

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Explanation:

The random walk theory of the stock price movement states that there is no observable pattern or trend to the movement of a stock price.  It is, therefore, impossible to use the past movement or trend of a stock price to predict its future movement.  This means that the wise investor should invest in the market portfolio to reflect more closely the movement of stock prices in the market instead of investing in a single stock or market security.

6 0
2 years ago
Goshen Company's contribution format income statement for the most recent month is given below: Sales (42,000 units) $ 1,218,000
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Answer:

Sales Revenue        1,218,000 1,218,000

Variable Cost                  852,600 487,200

Contribution margin   365,400 730,800

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Explanation:

Variable cost 852,600 / 42,000 units = 20.3 then - 8.7 for the decrease due to nex equipment = 11.6  Then 11.6 x 42,000 = 487,200

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