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ArbitrLikvidat [17]

2 years ago

11

__________ is a specialized accounting book, where transactions are categorized according to type. for example, all utility tran

sactions are recorded in the same category.

2 answers:

Margarita [4]2 years ago

6 0

The ans is a balanced sheet it the only acounting document that categorizes data

Aloiza [94]2 years ago

5 0

The ans is a balanced sheet it the only accounting document that categorizes data

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Canada and the U.S. both produce wheat and computer software. Canada is said to have the comparative advantage in producing whea

timurjin [86]

Answer:

The correct answer is <em>d. Canada requires fewer resources than the U.S. to produce a bushel of wheat.</em>

Explanation:

A country (in this case Canada) has a comparative advantage over another country (in this case the United States) to produce a certain product (in this case wheat) if the production costs of that product (wheat) are less than from the other country, regardless of the opportunity cost of producing that other product in that country.

The comparative advantage is based on the fact that the country has developed greater efficiency in the use of resources or that it has greater ease of access to them due to better conditions of nature, greater technological development in the field in question, human capital more specialized in that economic field, etc.

The opportunity cost of producing a product or another in the same country does not affect a deterioration or increase of the comparative advantage developed to produce such a product.

6 0

2 years ago

The following costs and inventory data were taken from the accounts of Simon Company for 2010:

kenny6666 [7]

Answer:

Part a

Direct Materials Schedule

Beginning Materials $ 8,000

<em>Add</em> Purchases $83,000

<em>Less</em> Ending Materials ($ 7,000)

<em>Less</em> Indirect materials ($4,000)

Direct Materials Used in Production $80,000

Part b

Overheads Incurred during the year

$

Factory rent 8,000

Factory utilities 10,000

Indirect materials 4,000

Indirect labor 6,000

Total Overheads $28,000

Part c

Cost of Goods Manufactured Schedule

Direct Materials $80,000

Direct labor $42,000

Overheads $28,000

Add Opening Work In Process $15,000

Less Closing Work In Process ($13,000)

Cost of Goods Manufactured $152,000

Part d

Cost of Goods Sold

Beginning Finished goods Inventory $16,000

Add Cost of Goods Manufactured $152,000

Less Ending Finished Goods Inventory ($12,000)

Cost of Goods Sold $156,000

Explanation:

The following steps must be done to reach the cost of goods sold :

Use the Manufacturing Cost Schedule to calculate the Cost of Goods Manufactured
Use the Finished Goods Inventory Account to calculate the Cost of Goods Sold.

See the calculations and schedules prepared above.

8 0

2 years ago

The Ralston Company manufactures a special line of graphic tubing items. The company estimates it will sell 85,000 units of this

adoni [48]

Answer:

Production budget = 75,000 units

Explanation:

<em>The production budgeted for a particular period is the expected units to be produced after adjusting the sales budget figures for opening and closing inventories. </em>

Production = Sales volume + closing inventory - opening inventory

Production budget for 2016

=85,000 + 20,000 - 30,000

= 75,000 units

8 0

2 years ago

The ending inventory of finished goods has a total cost of $9,000 and consists of 600 units. If the overhead applied to these go

Talja [164]

Answer:

direct material = $2,000

so correct answer is B. $2,000

Explanation:

given data

total cost = $9,000

consists = 600 units

overhead apply = $3,000

overhead rate = 75% of direct labor

solution

we get here Direct Labor that is

Direct Labor = $\frac{3000}{0.75}$

Direct Labor = $4000

and we apply here Total Cost that is

Total Cost = direct material + overhead + Direct Labor ..........1

put here value

$9,000 = direct material + $3,000 + $4,000

solve it we get

direct material = $2,000

so correct answer is B. $2,000

3 0

2 years ago

The owner of an interior lot has received notice that the city intends to place a sidewalk across his property. The lot measures

LUCKY_DIMON [66]

Answer:

<em>The amount that he will be charged in a special assessment tax to cover his cost of the sidewalk Is $2000 </em>

<em></em>

Explanation:

We are told that the property is an interior lot, so we'll only consider one of the width of his plot, since the sidewalk can only pass through the front or the back of his property.

The property measures 100' x 500' , that is 100 ft width by 500 ft length

The cost of the sidewalk is $40 per linear ft

The city will pick up 50% of the cost.

For a width of the lot, the cost per linear length will be

100 x $40 = $4000

The city covers 50% of this cost, leaving 50% of the cost to the homeowner.

The homeowner's cost will be 50% of $4000

= 0.5 x $4000 =<em> $2000 </em>

<em>The amount that he will be charged in a special assessment tax to cover his cost of the sidewalk Is $2000 </em>

7 0

2 years ago