Answer:
See below
Explanation:
Required 1
Overhead rate
= Overhead costs ÷ Direct material cost
= [$612,000 ÷ $1,800,000] × 100
= 34%
Required 2
Total cost of job in process
$90,000
Less: Materials cost of job in process
($27,000)
Less: Overhead applied (34% × $27,000)
($9,180)
Direct labor cost
$53,820
Answer:
PV= $259.89 million
Explanation:
Giving the following information:
Future Value= $800 million
Number of periods= 21 years
Relevant discount rate= 5.5 percent
<u>To calculate the present value, we need to use the following formula:</u>
PV= FV/(1+i)^n
PV= 800/1.055^21
PV= $259.89 million
Answer:
a. Jake, Kim, or Lou.
Explanation:
A promissory note is a note that should be signed with written promise in terms of paying some specific amount to the note owner on a specifiic date or on demand.
Since in the question it is mentioned that Jake who is a maker and pay to Kim and then it would endorse to Lou
So here the Mona should collect the payment from the above three parties
hence, the correct option is A.
Answer:
B. $9,957.
Explanation:
The computation is adjusted amount for Uncollectible account expense is shown below:
= The estimated total uncollectible accounts + debit balance of Allowance for uncollectible accounts
= $7,322 + $2,635
= $9,957
For computing the adjusted amount we added the estimated total uncollectible accounts and the debit balance of Allowance for uncollectible accounts
