Answer:
the journal entry for the acquisition
Debit : Assembly Robots $594,000
Credit: Cash $594,000
Explanation:
First, identify if the item is an asset, liability, equity or income. The assembly robots represents Assets as economic benefits will flow into the entity as a result of their use.
Next, assets are initially measured at their cost which is purchase price plus any costs directly related to placing the asset in the location and condition intended for use by management.
Cost of the Assembly Robots is $594,000
Answer:
The company paid a lower cost per hour for labor than allowed by the standards.
Explanation:
<em>The labour cost variance is the difference between the standard labour cost allowed for the actual hours worked and the actual labor cost for the same hours</em>
<em>The labour cost variance compares the actual cost and the standard cost for the actual labour hours paid for.</em>
Hence , Poseidon Marine Stores Company would have paid a sum for labour cost which is lower than the standard cost.
The company paid a lower cost per hour for labor than allowed by the standards.
Answer:
(d) Reimbursement
Explanation:
A reimbursement is a repayment for cash you've just spent. At the point when you travel for work, you get a repayment for your business related costs, similar to inn bills and boarding passes, however you'll need to pay for that outing to the bazaar yourself.
The cost repayment process enables bosses to take care of workers who have gone through their own cash for business-related costs. At the point when representatives get a cost repayment, commonly they won't be required to report such installments as wages or pay
Answer:
The correct answers are letters "A", "B", and "C": straight-line depreciation, manager's salary, store rent.
Explanation:
Fixed Costs are business expenses that do not change as the level of production goes up or down. They are one of two types of business expenses the other being variable cost. Variable costs do change as the volume of production changes. Examples of fixed costs are high-executive salaries, rent, depreciation, and insurance. Examples of variables costs are commissions, raw materials, and transportation fees.
Answer:
a. 464 beans
b. $464
Explanation:
a. The computation of the economic order quantity is shown below:
= 
where,
Annual demand = 200 days × 77 pounds = 15,400
And, all other items values would remain the same
Now put these values to the above formula
So, the value would equal to
= 
= 464 beans
The average inventory would equal to
= Economic order quantity ÷ 2
= 464 units ÷ 2
= 232 units
b. Holding cost = average inventory × carrying cost per unit
= 232 units × $2
= $464
