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1 year ago

Biologically, emerging adulthood has traditionally been the optimal time for hard physical work and _____.

1 answer:

5 0

The answer is D. Being that, in the first stage of adulthood, the adult is wanting to find a job to earn money. Maybe to buy a place and groceries. So then they become successful in their field with more time on their hands.

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On March 25, 2021, Phillips Corporation purchased bonds of Atlas Corporation for $132 million and classified the securities as t

ValentinkaMS [17]

Answer:

An unrealized holding gain of $28 million in 2019.

Explanation:

At the financial year-end, the company have to reevaluate the investment to recognize the gain or loss.

If the fair value is higher than actual investment, the company gain and vice versa it lost.

In this scenario, the fair value adjustment = the valuation on 31st December – purchased value = $150 million - $132 million = $28 million.

Because this step is just an approach to record new valuation of investment, then it’s consider unrealized.

In short, Phillips Corporation should first update the fair value adjustment of $28 million on December 31 2021

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1 year ago

During January, 7,000 direct labor hours were worked at a standard cost of $20 per hour. If the direct labor rate variance for J

igor_vitrenko [27]

Answer:

$17.50

Explanation:

Given that,

Direct labor hours = 7,000

Standard cost = $20 per hour

Direct Labor Rate Variance = $17,500 Favorable

(Standard Rate - Actual Rate) × Actual Hours = $17,500 Favorable

(20 - Actual Rate) × 7,000 = $17,500 Favorable

140,000 - 7,000 Actual Rate = $17,500 Favorable

Therefore,

7,000 Actual rate = (140,000 - $17,500)

Actual rate = 122,500 ÷ 7,000

= $17.50

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2 years ago

he following information was drawn from the accounting records of Chapin Company. On January 1, Year 1, Chapin paid $56,000 cash

ololo11 [35]

Answer:

a. Record the year-end adjusting entry for depreciation expense on the truck in T-accounts.

December 31, 202x, accrued depreciation expense on truck

Dr Depreciation expense 10,000

Cr Accumulated depreciation - truck 10,000

b. Determine the book value of the truck that will appear on the December 31, Year 1, balance sheet.

Truck $46,000

c. Record the year-end adjusting entry of uncollectible accounts expense.

December 31, 202x, allowance for doubtful accounts

Dr Bad debt expense 16,000

Cr Allowance for doubtful accounts 16,000

d. Determine the net realizable value of receivables that will appear on the December 31, Year 1, balance sheet.

Accounts receivable $52,000

Explanation:

truck's depreciation expense straight depreciation = ($56,000 - $6,000) / 5 years = $10,000 per year

accounts receivable balance December 31 = $68,000

allowance for doubtful accounts = $0

total sales on account = $320,000

5% of credit sales are uncollectible

accounts receivable = $68,000 - $16,000 = $52,000

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1 year ago

Tom’s Tent Company has total fixed costs of $300,000 per year. The firm's average variable cost is $80 for 10,000 tents. At that

Ghella [55]

Answer:

The firm average total cost is $110

correct option is d. $110

Explanation:

given data

total fixed costs = $300,000 per year

average variable cost = $80

tents = 10,000

to find out

we know that average total costs is sum of average fixed cost and average variable cost .........................1

here

Average fixed cost = total fixed cost ÷ number of unit output

Average fixed cost = $\frac{300,000}{10,000}$

Average fixed cost = $30

average total costs = Average fixed cost + average variable cost

average total costs = $30 + $80

average total costs = $110

correct option is d. $110

8 0

2 years ago

Fois Company has two divisions, Division X and Division Y. Division X has a production capacity of 5,000 units of a particular p

kogti [31]

Answer:

Lost contribution per unit = $56 per unit

Explanation:

The Division X is operating at less than full capacity, hence it has excess capacity of 600 units i.e (5000- 4,400)

This implies that it can only produce to meet the external and a portion of Division Y demand

Since Division X can only accommodate a portion of the internal demand, an opportunity would arise if it decides to meet all the request of Division Y.

Therefore, the minimum transfer price

minimum transfer price= Variable cost + a lost contribution from internal supply

The lost contribution represent the amount Division X would have made had sold the units to external buyers

Lost contribution per unit = $56 per unit

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2 years ago