Where would period costs be found on the financial​ statements?A. As operating expenses on the income statement in the period incurred.B. As operating expenses on the income statement for a previous period.C. Under current assets on the balance sheet.D. Under current liabilities on the balance sheet.

Answers

Answer 1

Answer:

A. As operating expenses on the income statement in the period incurred

Explanation:

In Variable Costing, Both Fixed Manufacturing Costs and Non - Manufacturing Costs are treated as Period costs. In Absorption Costing, only Non - Manufacturing Costs are treated as Period costs.

Period Costs can be found under operating expenses on the income statement in the period incurred.

Examples include Advertising, Rentals, Selling and Distribution and any Administration costs.


Related Questions

Which of the following can issue Eurodollar bonds?
I. Sovereign governments.
II. State and local governments.
III. U.S. corporations.
IV. Foreign corporations.
A) I and II.
B) I and III.
C) III and IV.
D) I,II, III, and IV.

Answers

Answer:

D) I,II, III, and IV.

Explanation:

The eurodollar bond is the bond in which the security is to be issued in the united states than could be located outside to the united states

It could be issued when the corporation wants to generate the capital from the investors that are located in the international countries

here issuers could be all of the following options given

Therefore option D is the correct answer

Kostelnik Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $237,000, variable manufacturing overhead of $3.90 per machine-hour, and 30,000 machine-hours. The company has provided the following data concerning Job A496 which was recently completed: Number of units in the job 20 Total machine-hours 80 Direct materials $ 500 Direct labor cost $ 2,160 The amount of overhead applied to Job A496 is closest to: (Round your intermediate calculations to 2 decimal places.)

Answers

Answer:

Allocated MOH= $944

Explanation:

Giving the following information:

Estimated overhead= $237,000

Variable manufacturing overhead= $3.90 per machine-hour

Estimated machine-hours= 30,000 machine-hours.

Job A496:

Total machine-hours 80

First, we need to calculate the predetermined overhead rate, using the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (237,000/30,000) + 3.9

Predetermined manufacturing overhead rate= $11.8 per machine-hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 11.8*80

Allocated MOH= $944

the different ways the media informs the public on the daily work of the Zondo Commission?

Answers

The correct answer to this open question is the following.

Although the are no options attached, we can say the following.

The different ways the media informs the public on the daily work of the Zondo Commission have been through their different slots such as their broadcasting systems, TV channels, Radio news, and social media sites.

The Zondo Commission in South Africa was formed to investigate corruption acts, fraud, and state capture. Formally known as the Judicial Commission of Inquiry into Allegations of State Capture, it was created in August 2018 as an initiative from the South Africa President Cyril Ramaphosa. The investigation is in progress and mass media is following the case very closely, daily informing the people of South Africa to generate Public Opinion.

Which cost is not relevant in making financial decisions?
A) Sunk costs.
B) Opportunity costs.
C) Incremental costs.
D) Out-of-pocket costs.

Answers

d is the correct answer i believe, but I may be wrong.

Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior.

Answers

Answer: False

Explanation:

Ethics are the moral principles which govern the behavior of a person. Ethics help us to know what is right or what is wrong.

Ethics Training program are done in order to enable workers to be able to identify and also deal with the ethical problems that they may face.

Therefore, the statement that "Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior" is false.

A company is considering two designs for a machine in its manufacturing line. The first, called machine A, will cost $160000 in fixed costs and will cost $80 per unit in variable costs, for each unit it produces. The second, called B, will cost $270000 in fixed costs and will cost $2 per unit in variable costs, for each unit it produces. At what volume of production will the two machines cost the same

Answers

Answer:

The indifference point is 1,410 units

Explanation:

Giving the following information:

Machine A:

Fixed costs= $160,000

Unitary variable cost= $80

Machine B:

Fixed costs= $270,000

Unitary variable cost= $2

First, we need to structure the total cost formula for each machine:

Machine A= 160,000 + 80x

Machine B= 270,000 + 2x

x= number of units

Now, we equal both formulas and isolate x:

160,000 + 80x = 270,000 + 2x

78x = 110,000

x= 110,000/78

x= 1,410 units

The indifference point is 1,410 units

Jim Company bought a machine for $36,000 with an estimated life of 5 years. The residual value of the machine is $6,000. This machine is expected to produce 120,000 units. In year 1, it produced 19,000 units, and in year 2, 38,000 units. Assuming the units-of-production method, calculate the first 2 years’ depreciation.

Answers

Answer:

Year 1 $4,750

Year 2 $9,500

Explanation:

Calculation for the first 2 years' depreciation

Since we were told that in year 1 it produced 19,000 units which means that the depreciation will be calculated as :

Year 1 Depreciation =19,000 units÷4 years

Year 1 Depreciation=$4,750

Calculation for Year 2 Depreciation

Since we were told that in year 2, 38,000 units was produce which means that the Depreciation will be calculated as :

Year 2 Depreciation =19,000 units÷2 years

Year 2 Depreciation =$9,500

Therefore Year 1 depreciation will be $4,750 while Year 2 depreciation will be $9,500.

Nevan’s gross pay was $45,150 last year. The federal income tax withholding from his pay was 16% of his gross pay. Nevan determined the federal income tax he owes is $6,150. Which of the following is true?

Answers

Answer:

Nevan will receive a refund of $1,074.

Explanation:

The true statement from the following options is that the refund of amounting to $1,074 being receive to Nevan.

Option D is correct.

What is an income tax?

An income tax is the liability paid by the taxpayer in respect of its taxable income. The taxable income is determined as the difference between gross income and the applicable exemptions.

From the provided case, the amount of tax withheld from the income of Nevan is $7,224 ($45,150 X 16%) and the amount of Income tax paid by him is $6,150, so the amount of difference, that is, $1,074 is considered to be refund. This is because the tax liability is lesser than the tax amount being withheld.

Question's missing part:

The options are given as follows:

A) Nevan owes an additional $1,074 in federal tax.

B) Nevan owes an additional $984 in federal tax.

C) Nevan will receive a refund of $1,074.

D) Nevan will receive a refund of $984.

Therefore, the refund of $1,074 is being earned by Nevan in the provided situation.

Learn more about the income taxes in the related link:

https://brainly.com/question/17075354

#SPJ6

Tumbling Haven, a gymnastic equipment manufacturer, provided the following information to its accountant. The company had net fixed assets of $356,190, and other assets of $4,176. The firm has current liabilities of $94,792, long-term debt of $76,445, common stock of $200,000, and retained earnings of $134,461. What amount of current assets did this firm have?

Answers

Answer: 145332

Explanation:

Current assets are the assets that a company has wgich are expected to either be sold or used during the next year and they iinclude cash, stock inventory, accounts receivable, marketable securities, cash equivalents, pre-paid liabilities, etc

It should be noted that:

Total asset = Current asset + $356190 + $4176

= Current asset + $360366

Long term debt + equity = 76445 + 200000 + 134461

= $410906

Current liabilities = $94,792

Since current liabilities= Total asset - (long term debt + equity)

$94,792 = (Current asset + $360366) - $410,906

Current asset = $94792 + $410906 - $360366

= $505698 - $360366

= $145,332

A. Monique balls is paid an hourly rate of $17.63 for a regular time work. What will her time and a half hourly rate for overtime work?

B. What will be her double-time hourly pay rate for overtime?

Answers

The answer is $26.44 per hour for double time hourly.

Exercise 2-12 Analyzing and journalizing transactions involving receipt of cash LO P1 Following are transactions for Valdez Services, a company owned by Brina Valdez. Brina Valdez invested $20,000 cash in the company in exchange for common stock. The company provided services to a client and immediately received $900 cash. The company received $10,000 cash from a client in payment for services to be provided next year. The company received $3,500 cash from a client in partial payment of accounts receivable. The company borrowed $5,000 cash from the bank by signing a note payable. 1. Prepare general journal entries for the above transactions of Valdez Services. 2. Listed below are four reasons why a transaction would not yield a revenue. Match each of the reasons to the transaction it properly describes.

Answers

Answer:

1. Date  General Journal and Explanation        Debit         Credit

              Cash                                                   $20,000

                   Common Stock                                               $20,000

              (To record investment in stock)

                Cash                                                   $900

                     Service Revenue                                           $900

               (To record revenue earned in Cash)  

                Cash                                                  $10,000  

                       Unearned Service Revenue                       $10,000

               (To record advance receipt)  

                Cash                                                    $3,500  

                        Accounts receivables                                 $3,500

               (To record cash received)  

                 Cash                                                   $5,000

                         Notes Payable                                            $5,000

                 (To record issuance of note)

2. Question missing.

Imprudential, Inc., has an unfunded pension liability of $800 million that must be paid in 21 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 5.5 percent, what is the present value of this liability

Answers

Answer:

PV= $259.89 million

Explanation:

Giving the following information:

Future Value= $800 million

Number of periods= 21 years

Relevant discount rate= 5.5 percent

To calculate the present value, we need to use the following formula:

PV= FV/(1+i)^n

PV= 800/1.055^21

PV= $259.89 million

Which of the following statements is correct?A. Marketing is the term used to refer only to the sales function within a firm.B. Marketing managers don't usually get involved in production or distribution decisions.C. Marketing is an activity that considers only the needs of the organization; not the needs of society as a whole.D. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Answers

Answer:

D. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Explanation:

Marketing goes way beyond selling and covers everything from planning to production and delivery/distribution to the customers. This is because marketing is a key/critical part of the business. Marketing is aimed at creating value for the customers and satisfying their needs in this way therefore marketing in business is not focused on selling but goes beyond that to breach the gap of satisfying and solving customers problems. This is seen in businesses who are marketing concept oriented and not selling concept oriented

On december 31 2019 the ledger of lopez company contained the following account balances:Cash $31,500 Maria Lopez, Drawing $12,000Accounts Receivable 2,150 Fees Income 46,250Supplies 1,350 Depreciation Expense 2,000Equipment 24,500 Salaries Expense 15,500Accumulated Depreciation 1,750 Supplies Expense 2,250Accounts Payable 2,250 Telephone Expense 1,850Maria Lopez, Capital 46,750 Utilities Expenses 3,900

Answers

Answer:

A. Dec 31, 2019

Dr Fees Income 46,250

Dr Income Summary 46,250

B. Dec 31, 2019

Dr Income Summary 25,500

Cr Depreciation Expense 2,000

Cr Salaries Expense 15,500

Cr Supplies Expense 2,250

Cr Telephone Expense 1,850

Cr Utilities Expense 3,900

C. Dec 31, 2019

Dr Income Summary 21,250

Cr Maria Lopez, Capital 21,250

D. Dec 31, 2019

Maria Lopez, Capital 12,000

Maria Lopez, Drawing 12,000

Explanation:

A. Preparation of the closing entry for revenue.

Dec 31, 2019

Dr Fees Income 46,250

Dr Income Summary 46,250

(To close revenue accounts)

B. Preparation of the closing entry for expenses.

Dec 31, 2019

Dr Income Summary 25,500

(2,000+15,500+2,250+1,850+3,900)

Cr Depreciation Expense 2,000

Cr Salaries Expense 15,500

Cr Supplies Expense 2,250

Cr Telephone Expense 1,850

Cr Utilities Expense 3,900

(To close expense accounts)

C. Preparation of the closing entry for balance of income summary

Dec 31, 2019

Dr Income Summary 21,250

(46,750-25,500)

Cr Maria Lopez, Capital 21,250

(To close balance of income summary)

D.Preparation of the closing entry for the drawing account

Dec 31, 2019

Maria Lopez, Capital 12,000

Maria Lopez, Drawing 12,000

(To close drawing account)

why more and more services are being developed by businesses today? ​

Answers

Answer:

because they need money

Explanation:

they need money because of the plague

A company purchased a building for $900,000 by obtaining a 30-year mortgage payable. Assume the lending arrangement specifies that the company will pay $20,000 of the principal over the first year, $30,000 in the second year, and the remainder evenly over the final 28 years. What amount of the $900,000 would be classified as a long-term liability at the time the mortgage payable is obtained

Answers

Answer:

A total of $880,000 would be classifiad as a long-term liability.

Explanation:

Long-term liabilities are also known as non-current liabilities.

Long-term liabilities consist of all the liabilities that are not due within a year, in other words, that can be paid off for a period of time longer than six months.

In this case, only $20,000 of principal of a total of $900,000 are paid over the first year. The remaining principal payment of $880,000 (plus any interest), is to be paid over the next 29 years, and for this reason, these payments will be recorded in the balance sheet as long-term or non-current liabilities.

The following cost data pertain to the operations of Rademaker Department Stores, Inc., for the month of March: Corporate headquarters building lease $ 94,000 Cosmetics Department sales commissions-Northridge Store $ 6,600 Corporate legal office salaries $ 58,600 Store manager's salary-Northridge Store $ 11,600 Heating-Northridge Store $ 12,600 Cosmetics Department cost of sales-Northridge Store $ 32,600 Central warehouse lease cost $ 7,600 Store security-Northridge Store $ 14,600 Cosmetics Department manager's salary-Northridge Store $ 5,600 The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are direct costs of the Cosmetics Department

Answers

Answer:

Rademaker Department Stores, Inc.

Direct costs of the Cosmetics Department:

= $44,800

Explanation:

a) Data and Calculations:

Cosmetics Department

Cosmetics Department Sales commissions - Northridge Store $ 6,600

Cosmetics Department cost of sales-Northridge Store            $ 32,600

Cosmetics Department manager's salary-Northridge Store      $ 5,600

Total direct costs for Cosmetics Department                            $44,800

b) The direct costs for the Cosmetics Department are those costs that are directly attributable to the department.  They are not the shared costs arising from either the Northridge Store or from the Corporate headquarters.

What was your profit or loss over the day (in $)?

Answers

Answer:

profit or loss over the day (in $) is the subtraction of sell price(in $) from the purchase price(in $) at the end of the day.

Explanation:

To find the percentage of profit or loss we first find the profit or loss by the  subtraction of sell price from the purchase price and than divide the result by the purchase price and multiply with 100.

Formoula for finding the percentage profit or loss= (sell price- purchase price)*100/(purchase price)

house alarm system when he moved to his new home in Seattle. For security purposes, he has all of his mail, including his alarm system bill, mailed to his local UPS store. Although the alarm system is activated and the company is aware of its physical address, Richardson receives repeated offers mailed to his physical address, imploring him to protect his house with the system he currently uses. What do you think the problem might be with that company's database

Answers

Answer:

it appears there's no database differentiation

Explanation:

Remember, we are told Richardson had already set up his house alarm system when he moved to his new home in Seattle, meaning he had subscribed to the service.

However, because the company's database does not differentiate customers who had activated their alarm system and set their billing to be sent to their local UPS store, it has caused Richardson security concern to still see repeated offers mailed to his physical address.

When I buy a $12.00 movie ticket rather than two paperback books, the
opportunity cost of going to the movie is the two paperback books I did
not buy.
True or false?

Answers

true because it is true

Purple Dog Pet Supply Inc. (PDPS) released its annual results and financial statements. Eleanor is reading the summary in the business pages of today’s paper. In its annual report this year PDPS reported a net income of $180,000. Last year, the company reported a retained earnings balance of $510,000, whereas this year it increased to $600,000. How much was paid out in dividends this year?

Answers

Answer:

$90,000

Explanation:

Purple dog pet supply released its annual results and financial statement

It reported a net income of $180,000 this year

Last year the company reported a retained earnings of $510,000

This year it increased to $600,000

Therefore the amount that was paid out in dividend this year can be calculated as follows

= $180,000 + $510,000-($600,000)

= $690,000-$600,000

= $90,000

Hence the amount that was paid out in dividend this year is $90,000

Stock Price after Recapitalization Lee Manufacturing's value of operations is equal to $900 million after a recapitalization (The firm had no debt before the recap.) Lee raised $300 million in new debt and used this to buy back stock. Lee had no short-term investments before or after the recap. After the recap, wd = 1/3. The firm had 26 million shares before the recap. What is P (the stock price after the recap)? Do not round intermediate calculationos. Round your answer to the nearest cent. $

Answers

Answer:

$34.62

Explanation:

Lee's manufacturing value of operation is $900 million after recapitalization

The firm has no amount of debt Before this

They also had no short term investments before the recap

After the recap wd= 1/3

Lee's had 26 million before the recap

The first step is to calculate the value of equity after recap

= (1-1/3) × 900 million

= 0.6667 × 900 million

= 600 million

Therefore the stock price after the recap can be calculated as follows

= 600 million + (300 million - 0)/26 million

= 600 million + 300 million /26 million

= 900 million/26 million

= $34.62

Hence the stock price after the recap is $34.62

A 4.8% coupon bond with 9 years remaining until maturity is currently trading at $1087.43. Assume semi-annual coupon payments. The bond's YTM is __________%. Round your *final* answer to 2 decimal places (example: 12.34). Hint: be sure your inputs reflect the semiannual payment frequency.

Answers

Answer:

3.66%

Explanation:

The yield to maturity can be computed using Excel rate function below:

=rate(nper,pmt,-pv,fv)

nper is the number of semiannual coupons in 9 years i.e 9*2=18

pmt is the amount of semiannual coupon =$1000*4.8%*6/12=24

pv is the current price which is $1087.43

face value is $1000

=rate(18,24,-1087.43,1000)

rate=1.83% (semiannual yield)

annual yield=1.83%*2

annual yield=3.66%

g Assume that Fan-Tastic Sports Gear Inc. used the allowance method last year, and the allowance account at the end of the year had a debit balance of $2,240. The company estimated uncollectible accounts expense using the percent of credit sales method and expected 0.75% of credit sales to be uncollectible. What is the amount of the adjusting entry to provide for doubtful accounts on December 31

Answers

Answer: $16,275‬

Explanation:

The amount for the adjusting entry to provide for doubtful accounts at year end is;

= Credit sales * Percentage of accounts expected uncollectible

= ( 3,100,000 * 70%) * 0.75%

= $16,275‬

Value of Equity after Recapitalization Nichols Corporation's value of operations is equal to $500 million after a recapitalization (the firm had no debt before the recap). It raised $300 million in new debt and used this to buy back stock. Nichols had no short-term investments before or after the recap. After the recap, wd = 60%. What is S (the value of equity after the recap)? Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Round your answer to the nearest whole number. $ million

Answers

Answer:

$300 million

Explanation:

Computation of S the value of equity after the recap

First step is to find the Value of debt using this formula

Value of debt = (New Debt / WD) - Value of Debt

Let plug in the formula

Value of debt = [$300 million / 0.60] - $300 million

Value of debt =500 million -$300 million

Value of debt =$200 million

Second step is to calculate for the Value of equity using this formula

Value of equity = Total market value - Value of debt

Let plug in the formula

Value of equity= $500 million - $200 million

Value of equity = $300 million

Therefore S the value of equity after the recap will be $300 million.

Alice, Amber, and Andi make and sell pottery. Alice is willing to sell a 5 inch pot for $25 , Amber is willing to sell a 5 inch pot for $28 , and Andi is willing to sell a 5 inch pot for $52 . If each of the ladies is able to sell one 5 inch pot for $55 , what is their combined producer surplus

Answers

Answer: $60

Explanation:

Producer surplus is simply the difference between the price a producer or seller is willing to accept for a particular good or service and how much the seller eventually sells the product at the market price.

In this scenario, the combined producer surplus will be the addition of the producer surplus of Alice, Amber and Andi. This will be:

= (55 - 25) + (55 - 28) + (55 - 52)

= 30 + 27 + 3

= $ 60

Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,100; Buildings, $53,000; Salaries Payable, $300; Common Stock, $33,000; Accounts Payable, $2,100; Utilities Expense, $3,500; Prepaid Insurance, $1,100; Service Revenue, $19,300; Accounts Receivable, $4,000; Cash, $3,300; Salaries Expense, $6,200; Retained Earnings, $17,500. Required: Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses.

Answers

Answer:

                         Cobras Incorporated

                             Trial Balance

                  For the Month Ended March 31

Account                            Debit           Credit

Cash                                  $3,300

Account Receivable         $4,000

Supplies                            $1,100

Prepaid Insurance            $1,100

Buildings                           $53,000

Account Payable                                   $2,100

Salaries Payable                                    $300

Common stock                                      $33,000

Retained earnings                                 $17,500

Service Earnings                                    $19,300

Salaries Expenses           $6,200

Utilities Expenses            $3,500                        

Total                                 $72,200        $72,200

How does the supply chain theory work with the distribution function?

Answers

Answer:

In simple words, Distribution can be characterised as a step-by - step process for transferring goods from manufacturers to end users. Distribution happens from the preceding point at any level of the supply process, including vendors, distributors or consumers.

Input materials are transported from producers to factories, and finished products are passed from factories to consumers. Distribution influences the quality of the supply chains and the consumer's service. In India, cement prices are around 30% of that same cost of manufacturing and selling cement.

The elements of professionalism contains_ attributes.

Answers

Answer:

Competency.

Explanation:

Costello Corporation reported pretax book income of $500,900. During the current year, the reserve for bad debts increased by $6,800. In addition, tax depreciation exceeded book depreciation by $40,900. Finally, Costello received $3,450 of tax-exempt life insurance proceeds from the death of one of its officers. Costello's deferred income tax expense or benefit would be:

Answers

Answer:

Deferred income tax expense = $7,161

Explanation:

Given:

Bed debts increase = $6,800

Depericiation increase = $40,900

Tax-exempt life insurance = $3,450

Computation:

Assume tax rate = 21%

Taxable difference = 40,900 - 6,800

Taxable difference = 34,100

Deferred income tax expense = 34,100 × 21%

Deferred income tax expense = $7,161

Other Questions
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