What are the definitions?
Answer:
predetermined manufacturing overhead rate $1.23
Explanation:
We will distribute the expected overhead cost along a cost driver.
In this case we are asked to use direct labor cost:
estimated overhead 270,300
estimated labor 219,800
overhead rate = 270,300 / 219,800 = 1,229754 = 1.23
Answer:
4
Explanation:
Given:
A company employs two office assistants for every nine architects and
ratio is given = 2:9
Question asked:
How many new office assistants will it need to hire as it plans to hire eighteen new architects = ?
Solution:
Let ratio of new office assistants = 
Ratio of two office assistants for every nine architects = 2:9
By using formula of ratio and proportion:
Ratio of two office assistants for every nine architects : : ratio of new office assistants for eighteen new architects,
2 : 9 : : : 18
By cross multiplication,
Dividing both side by 9,
Thus, 4 new office assistants will it need to hire.
Answer:
The balance for long-term debt and retained earnings on Glen’s Tobacco Shop’s balance sheet is $18.2 million and $27.8 million respectively
Explanation:
The computation is shown below:
Given that
Debt = 50% × Total Assets
= 50% × $96.4 million
= $48.20 million
As we know that
Total Debt = Current Liabilities + Long Term Debt
$48.20 million = $ 30.0 million + Long Term Debt
So, the long term debt is $18.2 million
Now,
Total Assets = Total Liabilities + Owner's Equity
where,
Total Assets = Long Term Debt + Current Liabilities + Common Stock and paid-in surplus + Retained Earnings
$96.4 million = $18.2 million + $30.0 million + $20.4 million + retained earnings
So, the retained earnings is $27.8 million
Answer:
a. They are what households or firms pay for products or resources.
Explanation:
The circular flow model shows how money flows in the society, from producers to workers in the form of wages, and back to the producers as money paid for products thereby providing exchange between the household and the firm.
The household work for firms in exchange for money to pay for goods and services offered by the firm while the firm sell there goods to the household so as to be able to generate profits.
