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mario62 [17]
2 years ago
7

When overhead is underapplied, a _____ must be made to the Manufacturing overhead account to close it out. Multiple choice quest

ion. debit credit
Business
1 answer:
Serhud [2]2 years ago
3 0

When overhead is underapplied, a debit must be made to the Manufacturing overhead account to close it out. The direct labor costs that  incurrence of direct labor costs should be recorded by debiting Work in process account.)

<h3>What is direct labor costs?</h3>
  • The wages or salaries paid to workers who actually generate goods are referred to as direct labor costs. In other words, these costs represent what employers pay to employees who produce the goods that businesses sell.
  • Direct labor and direct labor costs have a slight distinction. The actual job that employees perform to create items is referred to as labor. The sum of money the employer pays the workers to do the work is referred to as labor costs.
  • It is possible to track down and assign direct labor costs to certain products. A direct laborer would be someone who welds all of the bicycle frames that leave the Schwinn factory, for instance. The frames he helps build can be directly linked to his efforts. As a result, the bike frames can also be held responsible for the expenses related to his job, such as wages, salary, and benefits.

To learn more about direct labor costs with the given link

brainly.com/question/10554097

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Rosewood Company made a loan of $16,000 to one of the company's employees on April 1, 2020. The one-year note carried a 6% rate
Nady [450]

Answer:

loan interest revenue  for 2020 is $720

loan interest revenue for 2021 is $240

Explanation:

The loan interest revenue in the year 2020 is for 9 months out of the total loan tenure of twelve months:

interest revenue for 2020=$16,000*6%*9/12=$720.00  

This would be debited to interest receivable and credited to interest revenue account.

interest revenue for 2021=$16,000*6%*3/12=$240.00  

3 0
3 years ago
Read 2 more answers
Vertical analysis is a technique that expresses each item in a financial statement A. as a percent of the item in the previous y
LenaWriter [7]

Answer:

D.

Explanation:

The vertical analisys shows the different components of a finalcial statement related to a total figure in the statement.

Expresses each financial statement item as a percent of a base amount.

Commonly applied to the balance sheet and the income statement. On the balance sheet, set total assets to 100. On the income statement, set net sales to 100. The resulting statement, expressed entirely in percentages is called a common-size statement.

The total figure in the statement set to equal to 100. Each component´s percentage of that total is computed.

Usefull for comparing. The important of specific components in the operation of a business. Changes in the components from one year to the next.

8 0
3 years ago
A bilateral contract is one in which one side promises to perform in exchange for the other side's actions
ss7ja [257]

The statement is false.

Void and voidable contracts are one and the same. Exculpatory clauses are typically considered void towards public coverage. Covenants not to compete are commonly taken into consideration void as against public coverage.

A bilateral contract is a contract in which each party alternate guarantees to carry out. One birthday party's promise serves as consideration for the promise of the other. As a result, each party is an obligor of that birthday celebration's own promise and an obligee of the opposite's promise.

A contract wherein the events trade a promise for a promise is referred to as a Bilateral contract, whereas a contract wherein one birthday party gives a promise and the other birthday celebration performs an act is known as a Unilateral settlement. these legally enforceable promises can be in writing or oral.

Learn more about the bilateral contract here brainly.com/question/13741271

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8 0
2 years ago
Suppose an oligopolistic producer assumes its rivals will ignore a price increase but match a price cut. In this case the firm p
andreyandreev [35.5K]

Answer: C) demand curve as kinked, being steeper below the going price than above.

Explanation:

For an oligopolistic producer, who assumes that its rival would ignore a price increase but match a price cut, the perception of the firm about it demand curve is that it would be kinked, being steeper below the going price than above.

6 0
3 years ago
Explain about New product pricing strategy
Vanyuwa [196]

The first new product pricing strategies is called price-skimming. It is also referred to as market-skimming pricing. Price-skimming (or market-skimming) calls for setting a high price for a new product to skim maximum revenues layer by layer from those segments willing to pay the high price.

CORRECT ME IF IM WRONG

HOPE IT HELPS:)

7 0
2 years ago
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