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tatyana61 [14]
2 years ago
5

When manufacturing overhead costs are assigned to production in a process cost system, they are debited to.

Business
1 answer:
Ann [662]2 years ago
3 0

The manufacturing overhead costs assigned to production in a process cost system are debited to sales thereof.

Expenses have a debit balance. Manufacturing overhead costs are incurred when expenses are actually happen for the allocation of the asset ,work in progress etc.

Erstwhile the process cost system is the cost of total production incurred at the time of manufacturing for each unit of the product .

To learn more about overhead costs here,

brainly.com/question/13384595

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A U.S. citizen accrued $120,000 of creditable foreign taxes last year. The citizen's foreign tax credit limitation for last year
grandymaker [24]

Answer:

C) USD 8,000

Explanation:

Excess credits can be transferred back one year and can be moved ten years, or a sum of 11 (eleven) years. The credits that are anticipated  to be not used are  USD 16,000 So,

= ((USD 30,000 - (USD 2,000 × 11)).

= USD 8000/-

8 0
3 years ago
Candle in the Wind is a store for people who enjoy and collect candles to decorate their homes. Last year, its net sales totaled
melisa1 [442]

Answer:

$15,700

Explanation:

The computation of the net profit after taxes is shown below:

Sales revenue                                    $125,000

Less: Cost of goods sold -                -$42,300

Gross profit                                         $82,700

Less: Operating expenses

One time part assistant       $52,000  

Administrative expenses     $400

Utilities expenses                 $900

Total operating expenses                 -$53,300

Net Profit before tax                          $29,400

Less: income tax expense                -$13,700

Net profit after tax                             $15,700

3 0
4 years ago
When overapplied / underapplied overhead is prorated, the basis for proration is:?
spin [16.1K]
Proration occurs because it is impossible to accurately estimate the future overhead costs and production activity; it is either the overhead is over applied or under applied. The variance will have to be adjusted for at the end of the financial year.
7 0
4 years ago
10) Financial intermediaries can substantially reduce transaction costs per dollar of transactions
goblinko [34]

Answer: D) economies of scale.

Explanation:

Economies of scale refers to when an entity is able to reduce its total costs as quantities of the good causing the costs increase.

Financial Intermediaries such as Commercial banks, Mutual funds, Investment banks etcetera have a lot of funds available for trade which they use to execute large trades. As a result, the costs on average are lower or them per transaction as opposed to traders executing with lower volumes. For example, when purchasing shares they will be able to negotiate better fees with stockbrokers because they are buying a lot of shares as opposed a single buyer trading.

7 0
3 years ago
Which term describes a list of all ledger accounts that businesses maintain?
Len [333]
The answer would be a general ledger
5 0
3 years ago
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