Answer: The statement "A. The units in beginning inventory plus the units transferred out during the month should equal the units in the ending inventory plus the units transferred in during the month." is <u>FALSE.</u>
Explanation: The units in beginning inventory plus the units<u> </u><u>transferred in</u> during the month <u>MUST be equal</u> the units in the ending inventory plus the units <u>transferred out during</u> the month.
Answer:
(a) $9,000 per employee
(b) $252,000; $198,000
Explanation:
Given that,
Fringe benefits cost during 2018 = $450,000
Employees assigned to division A = 28
Employees assigned to division B = 22
(a) Allocation rate:
= Total cost to be allocated ÷ Cost driver
= $450,000 ÷ 50
= $9,000 per employee
(b) Cost assigned to A:
= Division Allocation Rate × Weight of base (No. of employees)
= $9,000 × 28
= $252,000
Cost assigned to B:
= Division Allocation Rate × Weight of base (No. of employees)
= $9,000 × 22
= $198,000
Answer:
The correct answer is letter "A": utilitarianism.
Explanation:
Utilitarianism is a term used in philosophy, economics, and law. It is a moral concept that explains that individuals are constantly looking for maximizing pleasure while avoiding any kind of harm. <em>This theory states is based on the belief that the greatest should be given for the greatest amount of people.</em>
British Economist John Stuart Mill (1806-1873) is one of the most relevant characters who promoted that idea.
Answer:
The correct answer is: price elasticity of supply and demand.
Explanation:
The government introduces a $4 per unit tax on the supply of automobile tires. The tax is imposed on the suppliers. The effect of the imposition of tax will remain the same whether the incidence falls on the buyer or seller. The imposition of tax will lead to an increase in the price of the commodity.
The burden shared by the buyers and sellers depends on the elasticity of demand and supply. If demand is more elastic than the supply, the supplier will bear the greater burden and vice versa.
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Activity Cost Pool Activity Measure Total Cost Total Activity
Machining Machine-hours $330,000 15,000 MHs
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
<u>Machinning:</u>
Predetermined manufacturing overhead rate= 330,000 / 15,000
Predetermined manufacturing overhead rate= $22 per machine-hour
<u>Machine setups:</u>
Number of setups $50,000 100 setups
Predetermined manufacturing overhead rate= 50,000/100
Predetermined manufacturing overhead rate= $500 per set-up