Answer:
The correct answer is C.
Explanation:
Giving the following information:
Pinnacle Corp. budgeted $700,000 of overhead costs for the current year.
Pinnacle's plantwide allocation base, machine hours, was budgeted at 100,000 hours.
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= 700,000/100,000= $7 per machine-hour.
A qualitative forecasting method which utilizes structured questionnaires submitted to potential customers soliciting opinions about potential products to estimate likely demand is called a market survey.
<h3><u>
What is a market survey?</u></h3>
- A market survey is a survey research and analysis of the market for a certain good or service that looks at consumer preferences.
- A review of various client capabilities, including investment characteristics and purchasing power. Market research surveys are instruments for directly obtaining feedback from the target market to comprehend their traits, expectations, and needs.
- For emerging goods and services, marketers create innovative and interesting strategies, but their efficacy cannot be guaranteed.
Marketers must identify the features and product categories that the target audiences would readily accept for these to be successful. By doing this, a new path can be guaranteed to succeed.
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Answer:
$144 unfavorable
Explanation:
The computation of the overall fixed manufacturing overhead volume variance for the month is shown below:
But before that following calculations need to be done
Budgeted manufacturing overhead is
= 6600 × $1.20
= $7,920
And,
Manufacturing overhead applied is
= Standard hours × Predetermined overhead rate
= 6480 × $1.20 = $7,776
So, fixed manufacturing overhead volume variance is
= Fixed overhead applied - budgeted fixed overhead
= $7,776 - $7,920
= $144 unfavorable
Answer:
$75,260
Explanation:
Calculation for What should Pharoah Company report as other comprehensive income and as a separate component of stockholders' equity
Using this formula
Comprehensive income/separate component of stockholders' equity=Fair value-(Sales of bonds-July 1, 2021 Amortized premiums-December 31, 2021 Amortized premiums)
Let plug in the formula
Comprehensive income/separate component of stockholders' equity=$2,780,000 - ($2,724,740 - $9,820 - $10,180)
Comprehensive income/separate component of stockholders' equity=$2,780,000-$2,704,740
Comprehensive income/separate component of stockholders' equity= $75,260
Therefore What should Pharoah Company report as other comprehensive income and as a separate component of stockholders' equity is $75,260
Accounting error are errors committed in accounting, which are not intentional.
<h3>What is accounting error?</h3>
These are unintentional errors committed in accounting, which are often corrected when spotted.
Matching each definition to each example is shown below:
- Ethan records $1,000 as a rent expense; however, the actual rent paid was $1,500 Original entry
- Ethan records stationery expenses as $251, but it should have been $215 Transposition
- Ethan records salaries of $5,000 as credits instead of debits. Reversal of entries
- Ethan made a subtraction error while analyzing the profit on the sale of an asset. Calculation
- Ethan completely overlooked stationery expenses of $115. Omission
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