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inn [45]
3 years ago
11

Congress adopted a law to provide insurance to protect wheat farmers. The agency in charge of the program adopted regulations to

govern applications for this insurance. These regulations were published in the Federal Register. Mary applied for insurance but his application did not comply with the regulations. She claimed she was not bound by the regulations because she never knew they had been adopted. Is she bound by the regulations?
Business
1 answer:
Zinaida [17]3 years ago
7 0

Answer:

She is bound by the regulations.

Explanation:

It is Mary's duty to know if the insurance regulations published in the Federal Register have been adopted by Congress.  The purpose of using the Federal Register is to inform US citizens of all pending legislations.  The publication in the Federal Register is, therefore, considered as a sufficient legal requirement for compliance with public notices.

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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The
Pani-rosa [81]

Answer:

Unit Cost = $196

Explanation:

As per the data given in the question,

Total variable overhead estimated = 4×31,400 = $125,600

Total overhead estimated = $125,600+$219,800 = $345,400

Predetermined overhead rate = $345,400÷31,400 = $11 per hour

Total overhead applied = $11×20 = $220

Hence, Total job cost = Direct material + Direct Labor + Total overhead

= $580 + $1,160 + $220

= $1,960

So, Unit cost = $1,960 ÷ 10 = $196

6 0
3 years ago
Read 2 more answers
Exercise 6-1A Calculate cost of goods sold (LO6-2) Russell Retail Group begins the year with inventory of $55,000 and ends the y
fomenos

Answer:

COGS= $920,000

Explanation:

Giving the following information:

Beginning inventory= $55,000

Ending inventory= $45,000

Purchases= 210,000 + 130,000 + 160,000 + 410,000= $910,000

<u>To calculate the cost of goods sold (COGS), we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS=  55,000 + 910,000 - 45,000

COGS= $920,000

7 0
3 years ago
Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April May June Credit sales $
ruslelena [56]

Answer and Explanation:

The presentation of the cash budget for the three months is shown below:

Particulars                April           May               June  

Beginning

cash balance          $182,000  $264,650     $434,150  

Add:

Cash receipts :    

Credit sales

collections             $577,750  $622,700      $621,650  

Total cash

available                $759,750  $887,350      $1,055,800  

Less:

Cash disbursements  

Purchases              -$289,000 -$302,000    -$282,000  

Wages, Taxes

and expenses        -$137,000   -$129,000     -$179,000  

Interest                    -$15,600    -$15,600        -$15,600  

Equipment

purchases                -$53,500    -$6,600         -$248,000  

Total

cash disbursements  -$495,100  -$453,200    -$724,600  

Ending

cash balance              $264,650   $434,150       $331,200  

Working Notes:

Cash collection from credit sales    

Particulars           March        April        May            June

Credit sales         $561,000  $689,000 $598,000 $751,000

Cash collected :    

35% cash collected

in month of sales $196,350 $241,150  $209,300  $262,850

60% cash collected

in following month

of sales                 $0           $336,600   $413,400  $358,800

Total cash

collected from sales            $577,750  $622,700  $621,650

7 0
3 years ago
According to the Census Bureau, in October 2016, the average house price in the United States was $27,258. 6 years earlier, the
krek1111 [17]

Answer:

Annual increase is $1,108.4

Explanation:

In 2016, average price was $27,258.6

In 2010, average price was $20,608

Average increase in 6 years = $27,258.6 - $20,608 = $6,650.6

Annual average increase = $6650.6/6 = $1,108.4

5 0
3 years ago
On January 1, Year 1, Raven Limo Service, Inc. paid $64,000 cash to purchase a limousine. The limo was expected to have a six ye
MAXImum [283]

Assuming Raven uses straight-line depreciation, the Company would recognize a $2,000 gain.

<h3>What is straight-line depreciation?</h3>

The simplest way to determine depreciation over time is through straight-line depreciation. According to this strategy, an asset's value is reduced by the same amount for each year that it is in use.

<h3>Depreciation formula:</h3>

(Depreciation expense per year = (Cost of the asset - Salvage value) ÷ Useful life.

The given data is -

The cost of asses is given as $64,000.

The salvage value is given as $10,000.

The sole price is $30,000.

Calculation for the depreciation-

Depreciation expense per year = ($64,000 Cost - $10,000 Salvage) ÷ (6               Year life)

Depreciation expense per year = $9,000

Accumulated depreciation on January 1, Year 5 = ($9,000 per year) × (4 years)

Accumulated depreciation on January 1, Year 5 = $36,000.

Book value = $64,000 Cost - $36,000 Accumulated depreciation

                    = $28,000

Gain on sale = $30,000 Sales price - $28,000 Book value

                     = $2,000)

Therefore, the gain on the scale is  $2,000.

To know more about calculation for annual depreciation using the straight-line depreciation method, here

brainly.com/question/27971176

#SPJ4

4 0
2 years ago
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