Conclusion: Peter has a remaining amount of $1.25 after he covers the service expenses.
Reasoning:
The total cost for 5/6 of a month amounts to (5/6)*$10.5= 0.83333*$10.5
= $8.75
Thus, the difference between his initial funds and his expense for the service will result in his change.
Change = $10.5-$8.75
=$ 1.25.
I hope this response was helpful.
Answer: $465,000
Explanation:
Activity-based costing (ABC) is employed to determine the total expenses associated with activities necessary for product creation. In an ABC system, each activity related to production is allocated a corresponding cost.
From the information in the question, the following deductions can be made:
Machining costs:
= 299,000/13,000 × 7,000
= 23 × 7,000
= $161,000
Machine setup costs:
= 240,000/400 × 150
= 600 × 150
= $90,000
Cost for product design:
= 80,000/2
= $40,000
Order size costs:
= 290,000/10,000 × 6,000
= 29 × 6,000
= $174,000
Total expenses = $161,000 + $90,000 + $40,000 + $174,000
= $465,000
Thus, the total overhead cost associated with Product H27T comes to $465,000.
Opportunity cost is defined as the loss incurred when one chooses one alternative over another.
In this scenario, the forgone option is full-time work along with other costs associated with that period when opting for schooling instead. Room and board expenses remain constant whether attending school or working full time, thus these are not factored in. Earnings from part-time work during school are deducted as they would have been earned during full-time employment.
Thus;
Opportunity cost = $20,000+$10,000+$1,000-$8,000 = $23,000
Accounting software can assist with which two of the following tasks? B. tracking bills that need to be issued to customers and D. monitoring after-sales services owed to customers. Many businesses utilize accounting software to manage their outstanding bills and monitor the performance of their sales and services. This helps companies oversee all incoming and outgoing funds to ensure proper budgeting and allocation of resources.
