Answer:
Unitary cost= $18.4
Explanation:
Giving the following information:
Daniel LLC incurred cost of $43,000 for material, $26,000 for labor, and $23,000 for factory overhead.
First, we need to calculate the total cost:
Total cost= 43,000 + 26,000 + 23,000
Total cost= $92,000
Now, the unitary cost:
Unitary cost= total cost / number of units
Unitary cost= 92,000 / 5,000
Unitary cost= $18.4
Answer:
December 31, 2022 Bad debts $ 2975
Explanation:
On December 31, 2021, Accounts Receivable $70,000
Allowance for Uncollectible Accounts $1,250
During 2022, Bad Debts $2,675
Allowance for Uncollectible Accounts $5,650 at December 31, 2022
Bad debt expense for 2022 would be
December 31, 2021
Allowance for Uncollectible Accounts $1,250
During 2022, Bad Debts $2,675
Required Adjustment $ 1425
December 31, 2022 Bad debts $ 2975
Allowance for Uncollectible Accounts $5,650 adjusted Balance
Allowance for Uncollectible Accounts Written Off $2,675
Required Adjustment $ 2975
Answer:
$7,075
Explanation:
Bad debt expense occur when the account receivables are no longer collectible due to inability to fulfill financial obligations by the customers in which it must be recorded and accounted for every time a company prepares its financial statements
Bad debt expense = $5,650− ($1,250 − $2,675) = $7,075
Therefore Bad debt expense for 2022 would be $7,075
B. the government makes collusion unnecessary with government-imposed barriers to entry because monopolies enhance economic efficiency.
C. the government encourages collusion with subsidies because resulting profits can be used to develop new products.
D. the government promotes collusion with the Federal Trade Commission because perfectly competitive markets enhance economic efficiency.
E. the government makes collusion illegal with antitrust laws because monopolies reduce economic efficiency.
Answer:
The correct answer is letter "E": the government makes collusion illegal with antitrust laws because monopolies reduce economic efficiency.
Explanation:
Antitrust laws regulate competition between companies. To protect consumers from price manipulation and unfair competition by making sure trade remains unrestrained. When businesses conspire to turn competition to their favor, they violate antitrust laws.
Those regulations prohibit business practices such us monopolies since those types of organizations take control over a certain market, making almost impossible the entry of competitors and consumers have fewer choices and higher prices.
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:
Decreases the Accounts Payable account and decreases the Checking account
Explanation:
In the case when the bill is paid in quick books by using the window of pay bills so the liabilities would be reduced also the liquid asset would be decreased
Since the liabilities is reduced i.e. account payable so automatically the checking account would also be reduced
hence, the last option is correct
The same is to be considered
Answer:
You would decrease the accounts payable (paying the bill relieves part of the balance in this account) and decreases the cash account (when you pay the bill, you use or reduce the cash)
Explanation:
see my answer for explanation
a. The wages and utility bills that Charles pays
b. The wholesale cost for the guitars that Charles pays the manufacturer
c. The rental income Charles could receive if he chose to rent out his showroom
d. The salary Charles could earn if he worked as a financial advisor
Answer:
Explanation:
Explicit Costs refers to costs that involve an immediate outlay of cash from the business and it is recorded and reported to the management.
Implicit Cost refer to the cost which the company had foregone while employing the alternative course of action and is neither recorded nor reported to the management of the company.
a. The wages and utility bills that Charles pays
Identification: Explicit Cost
b. The wholesale cost for the guitars that Charles pays the manufacturer
Identification: Explicit Cost
c. The rental income Charles could receive if he chose to rent out his showroom
Identification: Implicit Cost
d. The salary Charles could earn if he worked as a financial advisor
Identification: Implicit Cost
Given that, Reid Company's balance in prepaid insurance at the beginning and end of the year was $1,000 and $1,200, respectively. Hence, by doing calculations, it is found out that the correct option is-
an increase of $200 which shall be subtracted from net income.
The gap between the opening and closing balances is reflected in the prepaid expense account as an increase.
Prepaid expenses are asset accounts, and an increase implies that cash was spent on attaining the asset, so it is considered an application of cash and hence deducted from net income.
Net income is the amount of money left over after taxes as well as deductions are deducted from your paycheck. Net income is the money left over after paying operational expenses, administrative expenses, cost of products sold, taxes, insurance, and all other business expenses for a company.
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