Answer:
Dr Loss on Impairment $15,520.00
Cr Maturity Debt Securities $15,520.00
Explanation:
Preparation of the journal entry to record the impairment.
Journal entry
Sep. 30
Dr Loss on Impairment $15,520.00
Cr Maturity Debt Securities $15,520.00
($38,500-$22,980=$15,520)
(To record the impairment)
Answer:
The standard labor hours = $2,340
Explanation:
Standard (Budgeted) production volume = 1000 trivets
Standard direct labor hours = 2,600
This means that:
1000 Trivets = 2,600 hours
∴ 1 Trivet = 2,600 ÷ 1,000 = 2.6 hours
Therefore, standard hours for 1 Trivet = 2.6 hours
Actual production volume in May = 900 units
Since we know the standard labor hours for production of 1 Trivet, the standard hours allowed in May is calculated as follows:
1 Trivet = 2.6 hours
∴ 900 Trivets = 2.6 × 900 = 2,340 hours
∴
Answer:
D
Explanation:
The first 1000 minutes cost per month $50 and if you use 1200, minimum you will be charged with $50. To find the cost of the 200 reamining minutes, you multiply 200 times $0,35, which is the cost of one minute when you exceed 1000 minutes. Then you have:
$50⇒ for 1000 minutes
$70⇒ for 200 minutes
Total
$120⇒ for 1200 minutes
The employer contributes retirement account such as contributions to defined contributions plans like 401(k) plans.
<h3>What do you mean by retirement fund?</h3>
Retirement funds, also known as pension funds, are investment options that allow a person to save a portion of his or her retirement income.
These funds provide a standard source of income after retirement; a retiree receives a pension from his investment until his death.
Thus, The employer contributes retirement account such as contributions to defined contributions plans like 401(k) plans.
learn more about retirement funds here:
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Answer: c. $2,526,666.
Explanation:
When calculating amount of research and development costs charged to Sheridan for 2021, the concern should be for period costs i.e, costs that are incurred for 2021 alone. Therefore the Equipment cost cannot be put here because as an Asset it was purchased for future use and so cannot be just for 2021.
The costs therefore are all of the above EXCEPT cost.
= Materials + Depreciation + Personnel Costs + Consulting fees + Indirect Costs
= 915,000 + 441,666 + 715,000 + 265,000 + 190,000
= $2,526,666
Correct answer is Option C