Accounting Answers

what is the necessary formulas and steps of Cases, Test -statistics, Decision Rule, Consequence, Solution and Interpretation

1. Heteroscedasticity

2. Multicollinearity

3. Autocorrelation

On June 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant was completed on October 31, 2021. Expenditures on the project were as follows ($ in millions):

July 1, 2020

54

October 1, 2020

22

February 1, 2021

30

April 1, 2021

21

September 1, 2021

20

October 1, 2021

6

On July 1, 2020, Crocus obtained a $70 million construction loan with a 6% interest rate. The loan was outstanding through the end of October, 2021. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 8%. This note was outstanding during all of 2020 and 2021. The company's fiscal year-end is December 31.

What is the amount of interest that Crocus should capitalize in 2020, using the specific interest method?

A) $1.90 million.

B) $1.95 million.

C) $2.96 million.

D) None of these answer choices are correct.

1.The production department transfers finished goods to the selling department at manufacturing cost plus 25%.

2.Factory overheads under-allocated amount to R10 000.

3.Administrative and selling expenses for the year amount to R300 000.

4.The turnover for the year amounts to R2 125 000.

1. Work-in-progress on 1 January 200X and 31 December 200X amounts to R37 500 andR62 500 respectively.

6.Unsold finished goods on 31 December 200X amount to R187 500.

7. Direct material on hand on 31 December 200X amounts to R25 000. There was no direct material on hand on 1 January 200X.

8. Direct wages owing on 1 January 200X and on 31 December 200X amounted to R75 000 and R50 000 respectively.

9. Direct material purchased amounts to R400 000.

10. Direct wages paid amount to R525 000.

11. Factory overheads allocated amount to R125 000.

12. Unrealised profit on 1 January 200X amounts to R25 000.

You are required to :

1.Prepare the manufacturing cost/work-in-progress account in the general ledger.

Which of the following entities stores information that is an organization's intellectual property?

A. Neither Bill of Materials nor Job Operations List

B. Job Operations List

C. Bill of Materials

D. Both Bill of Materials and Job Operations List

An individual “Disburse Cash” event is typically linked to (check all that apply):

A. One specific “Issue Debt” event

B. Multiple “Issue Debt” events

C. Multiple “Issue Stock” events

D. One specific “Issue Stock” event

The M:N relationship between the Request Inventory and the Order Inventory events has a minimum cardinality of 0 in both directions because

A. every request must be linked to at least one order.

B. Some requests are denied and thus are never linked to an order.

C. Some orders may be linked to more than one request.

D. all orders must be linked to at least one request.

Which of the following statements are true?

A. Relationships between resources and agents can be modeled to depict accountability and responsibility.

B. Relationships between two resources can be modeled to depict location information.

C. Relationships between two agents can be modeled to show supervisory relations.

D. All of these are correct.