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sashaice [31]
3 years ago
6

Young Company is beginning operations and is considering three alternatives to allocate manufacturing overhead to individual uni

ts produced. Young can use a plantwide rate, departmental rates, or activity-based costing. Young will produce many types of products in its single plant, and not all products will be processed through all departments. In which one of the following independent situations would reported net income for the first year be the same regardless of which overhead allocation method had been selected?
a. All production costs approach those costs that were budgeted.
b. The sales mix does not vary from the mix that was budgeted.
c. All manufacturing overhead is a fixed cost.
d. All ending inventory balances are zero.
Business
1 answer:
ycow [4]3 years ago
8 0

Answer:

d. All ending inventory balances are zero.

Explanation:

Manufacturing overhead is an indirect cost which occurs when the production is done. Examples are Depreciation, Repairs and Maintenance etc.

All ending inventory balances are zero is the correct option because there is no opening balance and any change in net income is recorded in the balance sheet so, there will be no closing balance.

All production costs approach those costs that were budgeted, The sales mix does not vary from the mix that was budgeted and  All manufacturing overhead is a fixed cost are all incorrect.

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I can but, what do you need PayPal for I'm confused.

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2 years ago
Cypress Systems Inc., of Florida, agrees to sell specialized hydroponic growing equipment to Landcaster's of Australia. Because
exis [7]

Answer:

B) $5,000

Explanation:

Cypress total bill is $1,000,000. Since a foreign bank is going to provide them a service (the acceptance of payment) it will charge them 1.4% per year or 0.7% for thee six month period.

That means that Cypress will collect $1,000,000 x (1 - 0.7%) = $993,000

If Cypress decides to sell the bankers acceptance at a 1% annual fee, he will lose an additional 0.5% for the 6 month period = $930,000 x 0.5% =  $4,965. Apparently we have to round to the nearest thousand ≈ $5,000

6 0
3 years ago
a security analyst has identified malv/are spreading through the corporate network and has activated the csirt which of the foll
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8 0
1 year ago
Harrison Co. issued 13-year bonds one year ago at a coupon rate of 8 percent. The bonds make semiannual payments. If the YTM on
alex41 [277]

Answer:

$1,197.94

Explanation:

For determining the current dollar price we have to applied the present value formula which is to be shown in the attachment below:

Given that,  

Future value = $1,000

Rate of interest = 5.7%  ÷ 2 = 2.85%

NPER = (13 years  - 1 years) × 2 = 24 years

PMT = $1,000 × 8% ÷2  = $40

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

After applying the above formula, the current dollar price of the bond is $1,197.94

6 0
3 years ago
Vaughn Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2
vlabodo [156]

Answer:

Anderson Co. 3,100 shares at $18 per share

Munter Ltd. 10,200 shares at $57 per share

King Co. 5,600 preferred stock at $42 per stock

a. Prepare the entry for the security sale on January 15, 2021.

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  •     Cr Investment in Anderson Co. stock AFS 52,200
  •     Cr Realized gain on stock AFS 6,680

b. Prepare the journal entry to record the security purchase on April 17, 2021.

  • Dr Investment in Castle's stock AFS 38,160
  •     Cr Cash 38,160

c. Compute the unrealized gains or losses.

  • unrealized gain = $40,800 (gain in Munter) - $11,200 (loss in King) - $13,960 (loss in Castle) = $15,640

d. Prepare the adjusting entry for Vaughn on December 31, 2021.

  • Dr Investment in Munter's stock 40,800
  •     Cr Investment in King's stock 11,200
  •     Cr Investment in Castle's stock 13,960
  •     Cr Unrealized gain - other comprehensive income 15,640

 

4 0
3 years ago
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