GoFish Inc $\underline{\text { Salamander} } \quad \underline{\text { Gold }}$

question 64

Short Answer

GoFish Inc.has an overhead rate for machine setups of $200 per machine setup, for a total of $56,000 of overhead.The company produces two products, Product Salamander and Product Gold, which require 120 and 160 setups each, respectively.The overhead assigned to each product is $\underline{\text { Salamander} } \quad \underline{\text { Gold }}$
a) $\$28,000\quad\quad\$28,000$
b) $\$32,000\quad\quad\$24,000$
c) $\$26,000\quad\quad\$30,000$
d) $\$24,000\quad\quad\$32,000$

Recognize and measure asset losses due to impairment or government orders.

Record asset exchanges with commercial substance and adjust for differences in fair values.

Understand the concepts of internal transfer pricing and the factors influencing the determination of transfer prices.

Calculate joint costs and allocate them to different products or departments using the value basis method.

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Definitions:

Null Hypothesis

A statement used in statistics that proposes there is no significant difference or relationship between specified populations, any observed difference being due to sampling or experimental error.

Scientific Hypothesis

A testable prediction about the relationship between two or more variables, forming the basis for an experiment or observational study.

Observations

The act of watching carefully with attention to details for the purpose of gathering data.

Experiment

A scientific procedure undertaken to test a hypothesis by manipulating and measuring variables to observe the effect.