How many days after missing a student loan payment do your loans go into default?.

Aspen Company estimates its manufacturing overhead to be $515,000 and its direct labor costs to be $515,000 for year 2. Aspen wo

Step2247 [10]

Answer:

COGS 3807 debit

FG 7896 debit

WIP 2397 debit

Factory Overhead 14,100 credit

--to record the underapplication of overhead--

Explanation:

overhead rate:

$\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate$

$515,000 overhead / 515,000 labor cost = $1

each labor cost generates a dollar of overhead.

221,400 x 1 = 221,400 overhead in COGS

459,200 x 1 = 459,200 overhead in Finished Goods

139,400 x 1 = 139,400 overhead in WIP inventory

Total applied 820,000

Actual 805,900

Underapplied 14,100

Now we weight each concept and determiante the portion underapplocated in each concept

$\left[\begin{array}{cccc}Item&Value&Weight&Allocated\\COGS&221400&0.27&3807\\FG&459200&0.56&7896\\WIP&139400&0.17&2397\\&&&\\Total&820000&1&14100\\\end{array}\right]$

4 0

3 years ago

On February 24, 2020, Allison's building, with an adjusted basis of $2,986,000 (and used in her trade or business), is destroyed

astra-53 [7]

Answer:

As a calendar-year taxpayer, Allison must make the new investment by December 31, 2020 to qualify for the nonrecognition election.

Explanation:

a) Data and Calculations:

Adjusted basis of building = $2,986,000

Insurance reimbursement = $3,881,800

Gain from loss = $895,800 ($3,881,800 - $2,986,000)

Investment in new building = $3,493,620

Purchase of stock = $388,180 ($3,881,800 - $3,493,620)

b) Allison is expected to make the election for the nonrecognition of the gain from loss in his Federal Tax return in the taxable year in which the gain with respect to the loss of the building is realized. The return must set forth the computation of the gain and other required details.

6 0

2 years ago

Name the four factors that affect population growth.

Alexxx [7]

Answer:

Factors affecting the population growth of a country are:

Explanation:

The population growth of a country are determined by many factors from which some are mentioned below:

CULTURAL ATTITUDE OF THE FAMILY: The attitude of the family towards population growth and their country plays a role in the population growth.

GOVERNMENT POLICIES: lack of the government policies and planing results in the population growth of a country.

COST OF EDUCATION: The higher the cost of education, the higher the illiteracy will be causing lack of education and awareness.

AVAILABILITY OF CONTRACEPTION: Availability of the medical techniques to avoid the unwanted pregnancy helps in the controlling of the population growth of a country.

6 0

3 years ago

Which distribution channel is used by valley farm dairy to distribute its products to consumers without intermediaries?

expeople1 [14]

The distribution channel used by the Valley Farm Dairy would be direct distribution. It is a type of channel distribution that is used to directly sell the goods from the producer to the consumers themselves. The use of intermediaries would increase the price of the good when it reaches the consumers.

3 0

3 years ago

Under the Uniform Securities Act, which of the following negates a client's right to a civil suit for damages?

DanielleElmas [232]

Answer:

I

Explanation:

The Uniform securities act is a framework that serves to protect investors as it guides the states securities regulation in managing security related fraud and also helps the security exchange commission's enforcement and regulation .

It allows the clients right to civil suit for damages under certain conditions except a situation such as when the advice that is the subject of the suit was given more than three years ago.

A civil suit can only be filed on the earlier of "within 3 years of the alleged infraction or 2 years of the discovering of the violation"

5 0

3 years ago