All categories

2 years ago

How should factory overhead variances be treated in a journal entry to apply factory overhead?

1 answer:

5 0

Factory overhead variances should be broken out into their individual components and reported separately as either debits or credits to their individual variance accounts should factory overhead variances be treated in a journal entry to apply factory overhead

Credit is generally defined as an agreement between a lender and a borrower. Credit also refers to the creditworthiness or credit history of an individual or entity. In accounting, loans can reduce assets or increase liabilities, and can reduce expenses or increase income.

One credit is equivalent to a 30-second voice message. A voice message can be recorded for up to 120 seconds. The longer the voice message, the more credit you will get for shipping per phone number. 1-30 seconds = 1 credit per phone number.

An example of credit is a celebration for graduating from medical school while working two jobs. Examples of loans are amounts that are available in a bank account or credited to a checking account. An example of credits is the number of English courses required for a degree.

Learn more about credits here

brainly.com/question/13375913

#SPJ4

You might be interested in

Activity-Based Costing: Selling and Administrative Expenses

lutik1710 [3]

Answer:

a) Total Sales order $60,000 and total Shipping is $28,000

b) Per unit sales order processing cost = $2.18 and shipping activity cost per walking shoe = $1.02

Explanation:

The question is divided into two parts

Part 1 ) Determine the Total Activity Cost as follows

Activity Order Rate Total (Order x rate)

Sales Order Processing 5000 orders $12/order $60,000

Shipping 1400 shipments $20/shipmt $28,000

Total $88,000

Part 2)

a) Per-unit sales order processing cost

What is the sales order activity cost $60,000 and the number of walking shoes =27,500

Therefore Per unit cost = $60,000 / 27,500 = $2.18 per unit

b) Shipping activity cost per walking shoes

Shipping cost = $28,000 and the number of shoes 27,500

Per Unit Cost of shipping = $28,000/27,500 = $1.02 per unit

The total Activity cost therefore is $2.18 + $1.02 = $3.20

3 0

3 years ago

True or False. The standminus−alone cost allocation method ranks the individual users of a cost object in order of users most re

Reptile [31]

Answer:

False

Explanation:

It is 'Incremental cost allocation method' that ranks the individual users of a cost object in order of users most responsible for a common cost (the most responsible will be primary user) and then uses these rankings to allocate the costs among the users (incremental users).

Stand-alone cost allocation method allocates cost proportionately among all users based on a basis which relates to each users proportion of the total. For example the basis could be proportion of sales of responsibility centers to total sales of organization.

6 0

3 years ago

When the price of a good increases, it undoubtedly hurts individual consumers, since they now have to pay more for a particular

ludmilkaskok [199]

Answer:

The answers that apply are:

(B) The price for a hunting license is increased in an effort to reduce the number of hunters.

Explanation:

Hunting is a practice that governments are trying to control and decrease. So if government want to decrease the amount of people hunting they should increase the price of the licence.

Smoking is unhealthy, so the law increase the price for healthy reasons.

5 0

3 years ago

Which of the following is true about the correlation between salary and job satisfaction? a. Financial perks and benefits always

Sindrei [870]

Can you dm me for the answer I’m not home rn I’m trying to help out a lot of people

4 0

3 years ago

Read 2 more answers

Department G had 2,040 units 25% completed at the beginning of the period, 12,200 units were completed during the period, 1,700

Margarita [4]

Answer:

18261

Explanation:

The first key-point will be that materials are applied entirely at the begining of the production so this part of the cost is quite easy:

You have an ending inventory of 1,700 units and then you have a given data of $9 per unit for direct materials so mulitply those to get:

ending inventory $15,300 materials cost

Next part will be to calculate the conversion cost.

First step, will be to calculate the conversion cost for the period,

which is direct labor + factory overhead:

78,600 + 26,200 = 104,800

Remember conversion cost = labor + overhead

Second, calculate the equivalent units:

Here we have the data for completed units so we work it like this

Complete units 12200

(this are finished o they count entirely)

+ ending units x percent of completion 1700 x 20% = 340

(this are units we work during this period)

- beginning units x percent of completion (2040) x 5% = (510)

(this are units we don't work on this period,

they are from the previous month,

so we subtract them)

----------------------------------------------------------------

Equivalent units for conversion cost 12030

Third, we are almost there, we will divide this two to get the value of 1 unit of conversion cost

104,800 conversion cost / 12,030 equivalent units = 8.7115 CC per unit

Fourth, calculate the conversion cost for the ending inventory

conversion cost per unit x equivalent units of ending inventory

8.7115 x 340 = 2961

Last Step, we add the materials cost with the conversion cost

15,300 + 2,961 = 18261 VALUE OF ENDING INVENTORY

3 0

3 years ago