Answer:
$13,000
Explanation:
The computation of the december 31 liability for the warranty is shown below:
Given that
Warranty expense = 5% of sales
Warranty payable = $13,000
Paid amount = $5,000
Sales = $120,000
based on the above information
The warranty liability as on Dec 31 would be equivalent to the warranty payable i.e. $13,000
The same is to be considered
Answer:
Estimated manufacturing overhead rate= $77 per direct labor hour
Explanation:
Giving the following information:
Production:
Product A: 1,850 units
Product B: 1,250
Hours required:
Product A: requires 0.3 direct labor-hours per unit
Product B: requires 0.6 direct labor-hours per unit.
The total estimated overhead for the next period is $100,485.
First, we need to calculate the total amount of direct labor hours required:
Total direct labor hours= 0.3*1,850 + 0.6*1,250= 1,305 hour
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 100,485/1,305= $77 per direct labor hour
Answer:
Jobs argument
Explanation:
-The national-security argument states that some industries have to be protected by imposing tariffs to maintain the local production in case of a war.
-The unfair-competition argument says that the domestic market has to be protected when there is unfair competition because companies from other countries are subject to different regulations.
-Using-protection-as-a-bargaining-chip argument states that the threat of imposing a restriction can help to eliminate a restriction that was imposed by another country.
-Infant-industry argument says that new industries have to be protected because they don't have economies of scales that their competitors from others countries have.
-The jobs argument claims that the trade with other countries eliminates the local jobs.
According to this, the answer is that the senator is using the jobs argument to argue for the trade restriction on steel rods because he claims that it is necessary to impose those restrictions to protect the workers from losing their jobs.
Answer:
$600
Explanation:
The written down amount is $725, which is bad debt and provision is not required for it.
The increase in allowance for bad debt is always Written Off by using the provision and at the year end the amount that must have been written off is $600 which is the increase in the provision. This means that the Allowance for Bad Debts is $600.
