Answer:
The correct answer is B.
Explanation:
Giving the following information:
In April 2013, Sparkle Enterprises purchased the Crimson Mine for $18,000,000. The mine is estimated to contain 500,000 tons of ore with a residual value of $2,000,000 after mining operations are completed. During 2013, 120,000 tons of ore were removed from the mine and sold.
Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced
Annual depreciation= (16,000,000/500,000)*120,000= $3,840,000
Direct materials $800,000 $120,000
Direct manufacturing labor $200,000 $200,000
Manufacturing overhead $400,000 $500,000
The actual material and labor costs charged to Job #432 were as follows:
Total
Direct materials: $21,000
Direct labor:
Department A $11,000
Department B $7,000
$18,000
Apple Valley applies manufacturing overhead costs to jobs on the basis of direct manufacturing labor cost using departmental rates determined at the beginning of the year.
For Department A, the manufacturing overhead allocation rate is: _________
For Department B, the manufacturing overhead allocation rate is: _________
Manufacturing overhead costs allocated to Job #432 total: _________
Answer:
See below
Explanation:
1. manufacturing overhead allocation rate for department A
= (Manufacturing overhead department A/Manufacturing direct labor department A) × 100
= ($400,000/$200,000) × 100
= 200%
2. Overhead allocation rate for department B
= ($500,000/$200,000) × 100
= 250%
3. Manufacturing overhead cost allocated to job #432.
($11,000 × $400,000)/$200,000 + ($7,000 × $500,000)/$200,000
= $22,000 + $17,500
= $39,500
Answer:
$388,017.16
Explanation:
The amount that shall be accumulated at the beginning of retirement to provide a $2,500 for the period of 25 years shall be determined through the present value of annuity formula which is mentioned below:
Amount that should be accumulated=R[(1-(1+i)^-n)/i]
In the given question
R=monthly check that will be received=$2,500
n=number of months during which monthly checks will be received=25*12=300
i=interest rate compounded monthly=6/12=0.50%
Amount that should be accumulated=2500[(1-(1+0.50%)^-300)/0.50%]
=$388,017.16
Answer:
A. True
Explanation:
An organization would usually measure the volume of its orders in order to meet up with demand while also making sure that the cost per order is maintained at the nearest minimum. The tool used to measure the volume of frequent orders is Economic order quantity(EOQ) .
When inventories are ordered, there will be continuous movement of inventory say from Q(order amount) to zero. This means that the average inventory is Q ÷ 2. Also, the inventory costs for each period is the same as average cost(Q/2) multiply by length of the period.
Answer:
d. Lack of complexity: This refers to an oversimplication of policies that sacrifices depth and nuance.
Explanation:
Projects dedicated to information security policy are improved by lack of complexity . When the process for project execution is simplified, it is easy to understand and execute the various project stages, making processes more efficient. Simplification is a valuable tool businesses are using more and more to reduce wastage and increase returns.
On the other hand complexity in a project makes it hard to understand, and easier to make time-wasting mistakes.
Answer:
Quality Control Policies and Procedures and the Elements of Quality (SQCS 8):
1. Assign management responsibilities in such a manner that commercial considerations do not override the quality of work performed.
d. Human resources
2. Establish policies and procedures for resolving differences of opinion among firm personnel that arise during professional engagements.
a. Leadership responsibilities for quality within the firm (the tone at the top)
3. Develop policies and procedures to ensure that professionals are provided appropriate professional development opportunities.
d. Human resources
4. Review engagement documentation, reports, and the client’s financial statements.
f. Monitoring
5. Develop effective performance evaluation, compensation, and advancement procedures. Identify circumstances and relationships that create threats to independence and take appropriate action to eliminate those threats or reduce them to an acceptable level.
b. Relevant ethical requirements
6. Identify whether the firm possesses the competency, capability, and resources to appropriately serve a specific client.
c. Acceptance and continuance of client relationships and specific engagements
7. Devote sufficient resources to develop, communicate, and support the firm’s quality control procedures.
d. Human resources
8. Retain engagement documentation for a sufficient period of time to satisfy the needs of the firm, professional standards, laws, and regulations.
e. Engagement performance
Explanation:
According to SQCS 8, the firm must establish and maintain a system of quality control. The six elements of the system of quality control are:
a. Leadership responsibilities for quality within the firm (the tone at the top)
b. Relevant ethical requirements
c. Acceptance and continuance of client relationships and specific engagements
d. Human resources
e. Engagement performance
f. Monitoring
The quality control policies and procedures in public accounting firms are categorized into six elements identified by SQCS 8. Reviewing engagement documentation and the client's financial statements is under the element of monitoring.
Review engagement documentation, reports, and the client's financial statements falls under the element of monitoring in the quality control policies and procedures. This involves performing internal reviews to ensure the accuracy of the work and compliance with professional standards. Developing performance evaluation and compensation procedures falls under the human resources element. Identifying threats to independence and addressing them is part of the independence and ethical requirements element.
Develop effective performance evaluation, compensation, and advancement procedures is related to the element of human resources. This includes establishing fair and objective processes for evaluating staff performance and providing appropriate rewards.
Identifying circumstances and relationships that create threats to independence and taking appropriate action is part of the element of independence and ethical requirements. This involves assessing potential conflicts of interest and ensuring that professional judgment is not compromised.
#SPJ3
Answer:
Just Choose an side.
Explanation:
Would you rather use a store-bought mix, or a homemade mix? (Just choose one).
For homemade: I chose this because I would like to try something new and make different flavors, if it is a success.
For store-bought: I chose this because I want it to be easy for me to make, and has all the steps on the back of the box.