Answer:
E. $1,500; $6,000
Explanation:
In accrual basis, expenses are recognized once it is incurred. In cash basis, expenses are only recorded when cash is paid. As such,
when company uses supplies purchased in the previous period, $1,500, no expense is recorded.
when the company pays cash for inventory, $6,000, an expense for $6,000 is recorded.
Therefore the amount of accrual-basis expense is $1,500 while the amount of cash-basis expense is $6,000.
Answer:
Total overhead applied = $220
Explanation:
Total variable overhead estimated = Variable manufacturing overhead per machine-hour * Total machine-hours
Total variable overhead estimated = ($2 * 32,700)
= $65,400
Total overhead estimated = Total variable overhead estimated + Total fixed overhead estimated
Total overhead estimated = $65,400 + $294,300
Total overhead estimated = $359,700
Predetermined overhead rate = Total overhead estimated / Total machine hours
= $359,700 / 32,700
=$ 11 per machine hour
Hence, the total overhead applied = Predetermined overhead rate * Total machine hours L716
Total overhead applied = ($11 * 20)
Total overhead applied = $220
Answer:
cash income paid to a day laborer that is not reported to the tax authorities
Explanation:
GDP stands for Gross domestic product. It is the monetary value of all finished goods and services made within a country during a specific period.
It is calculated as GDP = private consumption + gross investment + government investment + government spending + (exports – imports).
Hence, cash income paid to a day laborer that is not reported to the tax authorities will not be included in GDP
Answer:
$2.51
Explanation:
Gena Manufacturing Company calculation for contribution margin unit
Using this formula
Fixed cost + Tax profit/Estimated sales units
Let plug in the formula
Where:
Fixed cost =$259,000
Tax profit=$126,034
Estimated sales units=153,400
Hence:
(259,000 + 126,034) / 153,400
=$385,034/153,400
= $2.51
Therefore the contribution margin that is required to attain the profit target will be $2.51
The primary responsibility of the board of directors is to (D) make daily operational decisions.(The main responsibility of a Board of Director is to make day-to-day management decisions. )
Explanation:
The main responsibility of a Board of Director is to make day-to-day management decisions. The primary purpose of the board of directors is to safeguard the shareholders interest by maintaining detached, impartial oversight on management.
Some of the duties of Board Members are:
- To develop the Organization's Mission and Purpose.
- Another important duty is to Monitor and Manage Financial Resources.
- To Recruit New Board Members.
- To Spread positive word of mouth about t the Organization.
So we can Say that The primary responsibility of the board of directors is to (D) make daily operational decisions
