9s. 8 Omar Shipping Company bought a tugboat for $75,000 (year 0) and expected to use it for five years after which it will be sold for $12,000. Suppose the company estimates the following revenues and expenses from the tugboat investment for the first operating year: Operating revenue $200,000 Operating expenses $84,000 Depreciation $4,000 If the company pays taxes at the rate of 30% on its taxable income, what is the net income during the first year? a. $28,700 b. $81,200 c. $78,400 d. $25,900

Q: Briefly discuss the features of Job costing system.

A: CIMA defines Job Costing as “that form of specific order costing which applies, where work is…

Q: In the blank next to the following terms, place the letter A through D corresponding to the best…

A: Cost:   It is the economic value of resources incurred by a firm to manufacture a product or render…

Q: Define the term job-costing.

A: Cost accounting system:   Cost accounting system can be defined as a framework designed by the…

Q: Describe the uses of job order costing system.

A: Job order costing   Job order cost system provides a separate record of each particular quantity of…

Q: job costing system implementaion?

A: Job Costing System: The act of gathering information on the expenses associated with a particular…

Q: . Designing a new product is an example of: a. Unit-level activity b. Batch-level activity…

A: Activity based costing is a type of costing system in which all indirect costs or overheads are…

Q: Define Work-in-process inventory.

A: Definition:   Inventory refers to the raw materials, work-in-process, and the finished goods…

Q: Activity-based costing first assigns costs to a. Products b. Activities c. Overhead d. Departments

A: Activity based costing is a type or form of costing which is useful for overheads allocation to…

Q: Use T-accounts to showthe flow of costs in ajob-order costing system.

A: Every industry maintains different inventory accounts and every industry can use job order costing.…

Q: how does standard costing system helps managers to make decisions

A: Standard costing is said to be a practice where expenses for production process are estimated in…

Q: In the first stage of ABC, a cost driver is selected for each activity cost pool. True or False?

A: ABC i.e. Activity Based Costing is a type of costing method used by companies to assign overhead and…

Q: What is Job order cost accounting.  Compare it to Process cost accounting.

A: Cost accounting is a sort of accounting, the main objective of which is to ascertain the costs of…

Q: How can the work-in-process concept be viewed?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: 4 Human resource management is an example of an activity at which of the following levels?…

A: Human resource management (HRM) is fundamentally an organization-sustaining activity because it…

Real Estate

Real estate means ownership of land along with the assets and natural resources that exist on the land. These properties are in real/physical form which is tangible. Real estate simply means land or addition made to land permanently like constructing a residence or different buildings. People invest in real estate to either reside or for wealth creation. Many people investing in real estate further lend the place for occupation or businesses in return for a monthly payment.