It should be noted that When calculating the cost of direct materials on the Schedule of Costs of Goods Manufactured,
The cost of indirect materials must be Subtracted from raw materials used in production.
<h3>What are Direct material costs ?</h3>
Direct material costs can be regarded as those cost of the raw materials as well as those components used in making the product.
Therefore, the cost of indirect material is required to be Subtracted from raw materials used in production.
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Answer:
Explanation:
Dec 31:
Debit Bad debts expense = 0.003 × $896000 = $2688
Credit Allowance for doubtful accounts = $2688
February 1:
Debit Allowance for doubtful accounts $448
Credit Accounts receivable—P. Park $448
June 5:
Debit Accounts receivable—P. Park $448
Credit Allowance for doubtful accounts $448
June 5:
Debit Cash $448
Credit Accounts receivable—P. Park $448
Answer:
The correct answer is letter "A" and "C": An increase in the family's car payment means the family will be unable to afford a vacation; A newer model offers better protection and functions but is more expensive than an older model.
Explanation:
Trade-offs are the result of comparing what must be acquired with what should be given up to satisfy most of a need. While selecting a new vehicle, a family must consider its capacity, size, and price. Besides, they will have to evaluate all the could be left behind for incurring such expenses like buying a new piece of furniture of use of most members of the family, remodeling part of the house or going on a family vacation.
Question: What percentage of the variation in overhead costs is explained by the independent variable
Answer: 82.8%
Explanation:
= 0.848 (84.8%), the explanation of variation in Y from the X regress
Question: What is the total overhead cost for an estimated activity level of 60,000 direct labor-hours
Answer: $410,000
Explanation:
The equation resulting from this regression analysis is:
Total overhead = Estimated fixed cost + Estimated variable cost per labor hour x Labor hours
= Intercept estimate + Coefficient estimate on independent variable x 60,000 DLH
= 110000 + 5 x 60000 DLH
= 110000 + 300000
= 410000
e. a, b, and c? All of these are true
