Answer:
Option (a) is correct.
Explanation:
Total income:
= Ordinary Income + Tax-exempt income + Portfolio income
= $20,000 + $8,000 + $4,000
= $32,000
Gray is a 50% partner,
Share of Gray in income = 50% of Total income
= 50% × $32,000
= $16,000
Therefore, the Gray's tax basis in Fabco on December 31, year 4 is as follows:
= Gray's tax basis in Fabco on January 1, year 4 + Share of Gray in income
= $5,000 + $16,000
= $21,000
Answer:
<u>Direct Materials $ 33525</u>
Explanation:
Bonita Industries
Job No. 130,
Manufacturing overhead $5100.
Direct Labor = $ 6375
5100 80
x 100
Using cross product direct labor = 5100 *100/80= 6375.
We have
Work in Process inventory $ 45000
Less
Manufacturing overhead $5100.
<u>Direct Labor $ 6375 </u>
<u>Direct Materials $ 33525</u>
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The Work in Process is debited with Direct Materials, Direct Labor and Manufacturing Overheads.
As we know the Direct Labor and Manufacturing Overheads we can find out the Direct Materials by subtracting the Direct Labor and Manufacturing Overheads from the Work In Process Inventory balance.
Answer:
False
Explanation:
International Product Cycle is a model that patterns international manufacturing & trade of product . It has 4 stages :
- Introduction - Innovated Invention in a developed country. Limited production & consumption, no competition
- Growth - Spread to other developed countries, foreign production & competition starts, consumption & coverage rise.
- Maturity - Spread to developing countries, stagnant growth in developed countries & fast growth in less developed countries
- Decline - Spread to less developed countries, technology outdated, various substitutes emerge & no. of sellers decline, demand still exist in less developed countries.
So: the next stage after 'Innovated Invention' in a developed country X is - its growth in other developed countries, not 'manfacturing in developing countries' (reflected in 3rd maturity stage).
Answer:
$11.165 unfavorable
Explanation:
The formula to compute the variable overhead efficiency variance is shown below:
= (Actual direct labor hours - standard direct labor hours) × variable overhead per hour
where,
Actual direct labor hours is 2,975
And, the standard direct labor hours equal to
= 250 units × 9
= 2,250
Now put these values to the above formula
So, the value would equal to
= (2,975 - 2,250) × $15.40
= $11.165 unfavorable
Answer:
B) sample averages
Explanation:
The sampling distribution of the mean is the average of the population obtained from the sample. It shows the patterns that the sample mean (or average) tends to follow. If the population distribution is normal, then the sampling distribution of the mean should follow the same pattern for all the samples obtained from the population. The mean or average of the sampling distribution should equal the population mean.