Issuance of common stock for cash affects which basic element of financial statements? Revenues Equity Losses Liabilities

A plant's fixed overhead costs total $500,000 for a year to produce 400,000 widgets, among other items. If machine‐hours are use

maxonik [38]

Answer:

$0.5

Explanation:

A plant's fixed total overhead cost is $500,000 for a year

400,000 widgets are required to be produced for this period

All processes require a 40,000 machine hours and the widgets use 16,000 hours out of the total hours

The first step is to calculate the fixed overhead application rate

= $500,000/40,000

= $12.5 machine-hour

The fixed overhead that is applied to the widgets can be calculated as follows

= $12.5 × 16,000

= $200,000

Therefore, the fixed overhead that is applied to each of the widgets produced can be calculated as follows

= 200,000/400,000

= $0.5

Hence the fixed overhead that is applicable to each widgets is $0.5

7 0

3 years ago

Mike just looked at his spending from last month and discovered he spent $120 buying movies. Mike knows that $120 is a lot of mo

navik [9.2K]

Answer:

B

Explanation:

4 0

3 years ago

Read 2 more answers

Nash's Trading Post, LLC has assets of $4200000, common stock of $1000000, and retained earnings of $600000. What are the credit

Anastasy [175]

Answer:

The correct answer is $2,600,000.

Explanation:

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

Total Assets = $4,200,000

Common stock = $1,000,000

Retained earnings = $600,000

So, we can calculate the creditors' claims on their assets by using following formula:

Creditor's Claim on their Assets = Total Assets - ( Common stock + Retained earnings)

= $4,200,000 - ( $1,000,000 + $600,000 )

= $4,200,000 - $1,600,000

= $2,600,000

Hence, Creditors' claims on their assets will be $2,600,000.

3 0

3 years ago

A family spends $40,000 on living expenses. With an annual inflation rate of 6 percent, they can expect to spend approximately _

il63 [147K]

Answer: $42,400

Explanation:

The family currently spends $40,000 on living expenses.

Inflation is expected to be 6% and as Inflation is used to refer to the general rise in prices, this means that the family will be spending 6% more in one year.

They will therefore be spending;

= 40,000 * (1 + 6%)

= $42,400

7 0

3 years ago

Which term refers to the fundamental rethinking and radical redesign of a business activity to achieve dramatic improvements in

Reika [66]

<span>This fundamental rethinking and radical redesign of business to achieve major improvements in outputs is called as business process re-engineering. The process access and analyses the flow of work and other procedures that are carried in the business and make the necessary changes to the business plan.</span>

5 0

3 years ago