Answer: False
Explanation:
Different departments incur different types of costs based on the product that they are producing. It would therefore not be right to use the same rate for all departments as it might capture cost inadequately.
The overhead rate should always take into account the unique circumstances of a department such that costs can be assigned as accurately as possible.
The answer to this question would be: $4.66
In this question, the grapes price is $1.99 per pound and you try to buy 2.34 pounds of grapes. Then you need to multiply the price with the weight of grapes. The calculation would be:
total price= price per pound * grapes weight(in pounds)
total price= $1.99/ pound * 2.34 pounds= $4.66
Answer:
A. Date Account Title and Explanation Debit Credit
June 30 Sales discounts $72
($2,400 * 3%)
Allowance for sales discounts $72
(To record the expected sales discounts)
B. Date Account Title and Explanation Debit Credit
June 30 Sales Discounts $62
($72 - $10)
Allowance for sales discounts $62
(To record the expected sales discounts)
Answer:
Annual depreciation 2020= $3,520
Explanation:
Giving the following information:
Purchase price= $25,000
Useful life= 10 years
Salvage value= $3,000
<u>To calculate the annual depreciation for 2020 under the double-declining balance, we need to use the following formula:</u>
Annual depreciation= 2*[(book value)/estimated life (years)]
<u>2019</u>:
Annual depreciation= 2*[(25,000 - 3,000) / 10]
Annual depreciation= $4,400
<u>2020</u>:
Annual depreciation= 2*[(22,000 - 4,400) / 10]
Annual depreciation= $3,520
