Answer:
Learned professional exemption
Explanation:
The reason is that under the federal minimum wage and overtime pay requirements, the person who has specialist and predominant intellectual work knowledge are exempt from the salary or fee basis because the US government encourages its citizens to learn such unique knowledge. This includes certifications holders for example, auditors, Doctors, etc.
Answer:
d. 23.84%
Explanation:
Years Cash-flow
0 -650,000
1 350,000
2 325,000
3 150,000
4 180,000
Using MS Excel IRR function
Internal rate of return = IRR(Cashflow year 0, 1, 2, 3, 4)
Internal rate of return = 23.84%
So, the internal rate of return of this project is 23.84%.
Answer:
(a) a schedule of cost of goods manufactured
Purchases $ 92,000
Materials inventory, March 1 $ 6,000
Materials inventory, March 31 ($ 8,000)
Material Consumed $ 90,000
Direct labor $ 25,000
Factory overhead $ 37,000
Work in process, March 1 $ 22,000
Work in process, March 31 ($ 23,500)
COGM $ 150,500
(b) an income statement for the month
Sales $ 257,000
COGS
COGM $ 150,500
FG opening $ 21,000
FG closing ($ 30,000)
Total ($ 141,500)
Gross profit $ 115,500
Sales and administrative expenses ($ 79,000)
Net profit $ 36,500
Increases in the price of the good measured on the horizontal axis will make the horizontal intercept *smaller in value* and make the budget line *steeper*.
Answer: The correct answer is <u>".B. There is no beginning inventory.".</u>
Explanation:
The weighted average method produces the same cost of manufactured goods as the FIFO method (First in First out) when there is no beginning inventory because there are no units at the beginning that drag the cost.