Answer:
they are debited to a Work in Process account
Explanation:
The journal entry to record the assignment of manufacturing overhead costs to production in a process cost system is done as follows:
Work - In Process (debit)
Overheads (credit)
Answer:
C) Around $56,100
Explanation:
total maintenance costs should be:
<u>year</u> <u>cost</u>
1 $0
2 $0
3 $0
4 $3,500
5 $5,250
6 $7,000
7 $8,750
8 $10,500
9 $12,250
10 $14,000
11 $15,750
12 $17,500
to determine the present value of the 12 year annuity we can use an excel spreadsheet and the present value function:
=PV (6%,select the 12 cells) = $56,099.39 ≈ $56,100
Answer: The sims
Explanation: Because its the best
All of them are the non-manufacturing business where process costing would most likely be used.
Explanation:
- All are non-manufacturing business which are as follows,
- An auto body shop.
- A furniture repair shop.
- A laboratory that tests water samples for lead A tailoring shop.
- A beauty shop.
- Non-manufacturing business costs refers to those business where it is incurred outside the factory or production unit
- Non-manufacturing costs includes,
- selling expenses
- general expenses
- Selling Expenses
- It is also called as selling and distribution expenses.
- Non-manufacturing expenses have no impact on the production cost of the company due to their period costs.