Answer:
<u>D. Purchase returns Bob</u>
Explanation:
- Purchase refers to payment by credit
- So, it is either B or D
- D sounds like the more sensible option
Answer:
The journal entries are as follows:
(i) On June 1,
Petty cash A/c Dr. $200
To cash $200
(To record petty cash established)
(ii) On June 30,
Postage A/c Dr. $25
Entertainment A/c Dr. $100
Miscellaneous A/c Dr. $20
To cash short and over A/c $2
To cash ($200 - $57) $143
(To record cash replenishment)
Material requirements plus an allowance for normal inefficiencies are added together to determine the Quantity Standard of a direct material per unit of output.
<h3>What is
direct material ?</h3>
The cost of direct materials, which may be easily recognised with the unit of production. In the manufacture of light bulbs, for example, the cost of glass is a direct material cost. Material was required as the primary component in the creation of items or goods.
Direct material refers to the physical components of a product. A baker's direct materials, for example, include flour, eggs, yeast, sugar, oil, and water. The direct materials concept is utilised in cost accounting, where this expense is categorised independently in various types of financial analysis.
Direct materials are those that are essential to the manufacturing process and can be traced back to the specific product manufactured.
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Answer:
$9.2
0
Explanation:
The calculation of the Finishing Department is shown below:-
Plant - wide overhead rate = Total overhead ÷ Total machine hour
= ($470,000 + $737,900) ÷ ($470,000 + 133,950)
Plant wide overhead rate = $2 per machine hour
Machine hour for product = 4.2 + 0.4
= $4.6 machine hour
Applied overhead = Machine hour for product × Plant wide overhead rate
= $4.6 × $2
= $9.2
0
- It should be noted that the failure to vaccinate some children isn an external cost. [See the attached graph]
- The social cost curve is also indicated accordingly.
- From an efficiency perspective, subsidizing vaccines <em>does</em> make sense because, without the subsidy, the equilibrium quantity is <em>less</em> than the socially optimal quantity.
- The school nurse suggests publishing a list of which kids did not get a flu vaccine, in the hope that public shaming will lead people to vaccinate their children. The school nurse is hoping that social norms will act like a <em>punishment </em>and lead the market to a<em> socially efficient </em>
- The flaws that the school nurse's suggestion have are:
- People that feel passionate about not vaccinating are typically doing so for medical or religious reasons and will not sway to social norms or peer pressure. (Option B)
- The school would potentially face a lawsuit because sharing protected health information (PHI), like immunization records, without parents' consent could be a violation depending on the regulations of the state. (Option C)
<h3>What is social Cost?</h3>
In neoclassical economics, the social cost is the total of the transaction's private costs plus the costs imposed on consumers as a result of being exposed to the process for which they are not rewarded or taxed.
In other words, it is the total of internal and external expenses.
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