Answer:
Particulars Amount
Raw material used $18,600
Add: Direct labor $26,600
<u>Overhead costs</u>
Factory supplies $3,100
Plant depreciation $6,800
Indirect labor $8,600
Utilities ($10,600*80%) <u>$8,480</u>
Total overhead cost <u>$26,980</u>
Total manufacturing costs <u>$72,180</u>
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Answer:
Cash Balance at the beginning of the year = $4,600
Explanation:
Opening Cash Balance = Closing Cash Balance - Net Increase (Decrease) in Cash
Opening Cash Balance = $18,100 - $13,500 = $4,600
FOB Destination describe goods whose risk will be catered by Seller until being delivered to the buyer.
FOB Destination is an acronym for "Freight on Board" Destination
- The FOB Destination is a <em>marine term</em> used to describes that legal title of goods belongs to the Seller until they are delivered to buyer.
- In other word, its means that seller of a product owns the risk of loss on a goods until its is delivered to the buyer.
In conclusion, the term states that the goods are owned by the buyer as soon as it is not delivered to the buyer.
Read more on FOB Destination here
<em>brainly.com/question/15102930</em>
Answer:
option (C) $3,000
Explanation:
Data provided:
Policy duration = 4 years
Policy amount = $12,000
Date on which premium is paid = January 1, 2013
Date on which entry is adjusted = December 31, 2015
Now,
The time passed between January 1, 2013 to December 31, 2015 = 3 years
Therefore,
Amount to be recognized as insurance exp. on December 31, 2015
= 
= 
= $9,000
Thus,
The balance in the prepaid insurance account = $12,000 - $9,000 = $3,000
Hence,
The correct answer is option (C) $3,000
