Answer:
Direct material purchase budget = 546,000 pounds
Explanation:
<em>Raw material purchase budget is determined by adjusting the raw material usage budget for opening and closing inventory of materials.
</em>
Purchase budget = usage budgeted + closing inventory - opening inventory
Usage budget = Production budget × standard materials per unit
= 172,000 × 3 pounds= 516,000
Purchase budget =516,000 + 380,000 - 350,000=546,000
Direct material purchase budget = 546,000 pounds
Answer: $446
Explanation:
Antoine will receive the same basis in the stock that was in the property.
The Corporation however, assumed $78 of the liability of the property transferred which would reduce Antoine's basis in that property
Antoine's basis = Property base - Liability assumed by corporation
= 524 - 78
= $446
Answer:
Debit to Employee Benefits Expense $21,300
Explanation:
Based on the information given the Journal entry to record the accrued benefits for the month would include a Debit to Employee Benefits Expense for the amount of $21,300 calculated as:
5% × $142,000 gross salary
=$7,100
Hence employee health insurance costs $14,200 per month +$7,100
=$21,300
Therefore The entry to record the accrued benefits for the month would include a:
Debit to Employee Benefits Expense $21,300
Answer:
The optimistic approach examines the best possible outcome in a given situation and chooses the 'best of the best' while the pessimistic approach examines the worst possible outcome in a given situation and chooses the 'best of the worst'.
Explanation:
Decision making under assumed uncertainty is an approach that is taken when the outcomes of future events are not entirely known. The Hurwicz criterion provides a basis on which the pessimistic and optimistic outcomes can be balanced. This criterion allows the person who makes the decision to chose a coefficient of pessimism signified by alpha (α) and it is a decimal that is graded between 0 and 1. This number signifies the worst possible outcome whereas, the number (1-α) signifies the best outcome.
So, the optimistic approach examines the best possible outcome in a given situation and allows the decision-maker to choose the 'best of the best', while the pessimistic approach examines the worst possible outcome in a given situation and the decision-maker to choose the 'best of the worst'
