Answer:
D.$400 over allocated
Explanation:
For computing the over-allocated or under-allocated amount, first, we have to determine the predetermined overhead rate which is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $371,000 ÷ 180,000 hours
= $2.06
Now we have to find the actual overhead which equals to
= Actual direct labor-hours × predetermined overhead rate
= 190,000 hours × $2.06
= $391,400
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $391,000 - $391,400
= $400 over - applied
Answer:
Answer for the question
Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with a book value of $6,400 and a fair market value of $16,100. Kelsey will invest a building with a book value of $46,500 and a fair market value of $64,300.
What amount will be recorded to Sandra's capital account?
Is given in the attachment.
Explanation:
Answer:
options (b),(c) and (e).
Explanation:
Okay let us take the options one after the other;
(a). People in Oregon send money to help cyclone victims in Bangladesh: this is WRONG because the question asked us to identify an INCOME-BASED payment and it is not.
(b). A resident of Maryland buys a car produced by Toyota in Japan: this is CORRECT. The person making the payment is a US resident making payment to a Japanese firm.
(c). Apple corporation pays a stock dividend to a resident of India: This is also CORRECT because Apple is a US based company making payment to Indian(a foreigner).
(d). A foreign exchange student from Paris comma France comma sends wine and cheese to her host family in Columbus comma Ohio : this WRONG because the student is also a foreigner.
(e). Orange Telecom comma a French company comma pays a stock dividend to a resident of Kansas City: this is CORRECT. Orange Telecom is a France company paying income to a foreigner (a U.S resident).
Answer:
$30,000
Explanation:
Warranty liability is a liability account used to report the expected amount of repairing or replacing products already shipped. It's a contingency liability and it should be recorded independently from the actual warranty costs. Therefore, warranty liability, in this case, is:
$600,000 * 0.05 = $30,000
The estimated warranty liability reported in the balance sheet this year is $30,000
Answer:
- Yes it is.
- Ethical issue ⇒ Insider Trading.
Explanation:
Trading on the stock exchange is supposed to be as fair as possible so that every investor has a fair chance of making returns. If a person - like this supervisor - is using information that is material but not publicly disclosed yet to trade on markets, the fairness of the market is compromised because the person will have an edge over other investors which will enable them make unfair profits.
Information on quarterly returns is usually material so we can expect it to be material here as well which means that the supervisor is engaged in insider trading.
Insider trading is not only unethical but also highly illegal. Reporting your supervisor can get them sent to jail.
