Answer:
B) = $38.44
Explanation:
<em>Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers. Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.</em>
Activity rate is calculated as:
<em>Activity cost for the period / Total cost drivers for the period</em>
<u><em>Activity rate for supporting customers:</em></u>
<em>The appropriate cost driver to allocate supporting customer activity is the number of customers as given. This is so because it is most likely that the number of customers served will be a major factor that influences the supporting customers activity costs. </em>
<u><em>Activity rate for supporting customers </em></u>
= Supporting customers overhead/total number of customers
= $34,600/(600+300)
= $38.44
Answer:
$428,000
Explanation:
The only movement that impact the total assets it's:
Kirk Corporation acquired equipment costing $3,000, promising to pay cash for it in 60 days.
Due to the equipment was finance by the supplier by 60 days it has a positive impact on assets and liabilities.
The others transactions:
- Kirk Corporation purchased $1,750 of supplies for cash, it has no impact because the supplies was paid with cash, so the impact on assets is zero.
- The land had cost $7,500 and it was sold for $7,500 cash. The land it's a long term assets that was sold for cash, so it was converted to current assets in money.
- Kirk Corporation signed an agreement, the impact it's in the next month, so it has no impact the current month analized.
Answer:
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<span>In
the cash flow statement whether the direct or indirect method is used, it
depends on the nature of business. If the company is into buying and selling
(trading) of land, the cash purchase of land can form part of the Operating
Activities. If it is otherwise, the cash purchase of land should be included in
the Investing Activities section. </span>
Answer:
The answer is: D) credit to the sales revenue is selling price less the transaction fee
Explanation:
Let's assume your company sells product X and accepts credit card payments. Product X's listing price is $100 which is the amount paid by your customers. Your company will not receive the full $100, depending on the processing fees you will be receiving about $98.
So you have to credit $98 to sales revenue (sales price - processing fees).
