Gem Systems Gem Systems Uses an Activity-Based Costing System.The Company Has Gathered

question 34

Multiple Choice

Gem Systems
Gem Systems uses an activity-based costing system.The company has gathered the following information concerning various cost pools and activity drivers;

The following data was collected and is specific to Job 150.

Refer to Gem Systems.What is the amount of electricity cost allocated to Job 150?

• A)$ 1,000
• B)$15,000
• C)$ 3,000
• D)$ 5,000

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Definitions:

Partnership

Business operation legally established for dual or multiple partners to govern and split profits.

Capital Account

In finance, it relates to a financial statement detailing the investment funds brought into and taken out of a company by its owners; in economics, it represents the part of the balance of payments recording net changes in a country’s foreign assets and liabilities.

Statement Of Partners' Equity

A financial document that shows changes in the equity interest of partners in a partnership over a period of time.

Partnership

A statutory business form that includes shared management responsibilities and profit distribution among several individuals.