What is meant by the net realizable value of accounts receivable?
What will be an ideal response?
Net realizable value of accounts receivable represents the amount of receivables a company estimates it will actually collect.
Net realizable value = Accounts receivable ? Allowance for doubtful accounts
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Natural resources are classified as intangible assets on the balance sheet
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
All intangible assets are initially recorded at the sacrifice incurred to acquire the assets.
Angie Manufacturing uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of standard machine-hours. At standard, each unit of product requires one machine-hour to complete. The standard variable overhead is $1.75 per machine-hour and Budgeted Fixed Manufacturing Costs are $300,000 per year. The denominator level of activity is 150,000 machine-hours, or 150,000 units. Actual data for the year were as follows: Actual variable overhead cost$211,680 Actual fixed manufacturing overhead cost$315,000 Actual machine-hours 126,000 Units produced 120,000 Required:a. What are the predetermined variable and fixed manufacturing overhead rates for the year?b. Compute the variable overhead rate and efficiency variances for the year.c.
Compute the fixed manufacturing overhead budget and volume variances for the year. What will be an ideal response?
The basic feasible solution in the initial simplex tableau is the origin where all decision variables equal zero
Indicate whether this statement is true or false.