Jorge purchased a copyright for use in his business in the current year. The purchase occurred on July 15th and the purchase price was $75,000. If the copyright has a remaining life of 75 months, what is the total amortization amount Jorge may deduct during the current year? (Assume this is not an asset acquisition to which §197 applies.)
A. $12,000.
B. $6,000.
C. $5,500.
D. $0.
E. None of the choices are correct.
Answer: B
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Which of the following is not an advantage of the budgeting process?
A) It can help management identify potential bottlenecks. B) It can help facilitate goal congruence throughout the organization. C) It encourages management to focus on the past and not be distracted by current activities of the organization. D) It encourages communication among various departments in the organization.
Dividing assembly tasks as equally as possible to each workcenter in an assembly line is referred to as __________.
What will be an ideal response?
The fair value of an investment is the price that ________
A) existed at the time of acquisition B) would be received if the company were to sell the investment on the market C) is always equal to the weighted average cost of the investment D) is not relevant for trading investments
Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 700 Materials costs$8,700 Conversion costs$3,700 Percent complete with respect to materials 70%Percent complete with respect to conversion 10%Units started into production during the month 6,400 Units transferred to the next department during the month 5,600 Materials costs added during the month$92,200 Conversion costs added during the month$269,600 Ending work in process inventory: Units in ending work in process inventory 1,500 Percent complete with respect to materials 80%Percent complete with respect to
conversion 25% The cost per equivalent unit for conversion costs for the first department for the month is closest to: A. $52.86 B. $47.94 C. $45.66 D. $48.14