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Using the sequential method, Pone Hill Company allocates Janitorial Department costs based on square footage serviced. It alloca

Tpy6a [65]

Answer:

10% of the Janitorial Department's $450,000 costs is allocated to the Cutting Department

Explanation:

Given:

Costs Square Feet Number of Employees

Janitorial Department $450,000 100 20

Cafeteria Department $200,000 10,000 10

Cutting Department $1,500,000 2,000 60

Assembly Department $3,000,000 8,000 20

Cafeteria Cutting Assembly Total

Department department department

Square feet 10,000 2,000 8,000 20,000

% of allocation 50% 10% 40%

$\frac{10,000}{20,000}$ × 100 $\frac{2,000}{20,000}$ × 100 $\frac{8,000}{20,000}$ × 100

Hence, % usage by the cutting department is 10%

5 0

2 years ago

â__________ is the act of using quotas or tariffs to shield one or more industries within a countryâs economy from foreign compe

Ivenika [448]

Â Protectionism is the act of using quotas or tariffs to shield one or more industries within a country's economy from foreign competition.

3 0

2 years ago

Amy has a card shop. She receives a shipment of Valentine's Day cards in December 2011 made by a card manufacture in that month.

Firdavs [7]

Answer:

The contributions of these transactions is a reduction to GDP by $500 in 2011 and an increase in GDP by $800 in 2012.

Explanation:

GDP is the abbreviation for gross domestic product which is the monetary value of all finished products (goods and services) made within a country during a specific period (usually a year). In the determination of a country's GDP, imports are subtracted while exports or sales are added.

Therefore considering that Amy received a shipment of Valentine's Day cards in December 2011 paying a total of $500 and sold all the cards for a total of $800 in February 2012, the contributions of these transactions is a reduction to GDP by $500 in 2011 and an increase in GDP by $800 in 2012.

6 0

2 years ago

Divine Apparel has 3,100 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to st

Naya [18.7K]

Answer:

1.

Debit Credit

Retained Earnings ($0.75*3,100) $2,325

Dividend payable $2,325

2. "No Journal Entry Required"

3.

Debit Credit

Dividend payable $2,325

Cash $2,325

Explanation:

The following journal entries will be required to be made

1. Recording declaration of dividend

The Divine Apparel shall record the the following journal entry on October 1 in respect of dividend declared by it.

Debit Credit

Retained Earnings ($0.75*3,100) $2,325

Dividend payable $2,325

2.Record the entry on date of record

"No Journal Entry Required"

3.Record the payment of cash dividends

The Divine Apparel shall record the the following journal entry on October 31 in respect of dividend paid by it.

Debit Credit

Dividend payable $2,325

Cash $2,325

7 0

2 years ago

When are product costs included on the income statement?

ioda

Answer:

The correct answer is D. When the product is sold and delivered to a customer.

Explanation:

It is recognized at the time of the sale, because the company receives an income as a result of the recovery of its cost plus the established profit margin. When the sale has not been made, it remains within the product inventories until the sale occurs and becomes an operational income.

4 0

2 years ago