Answer:
C. $1,370,000
Explanation:
Calculation to determine the cost figures that should be used in setting a minimum bid price if Harlen has excess capacity
Direct material $340,000
Direct labor $610,000
Allocated variable overhead $420,000
Minimum bid price $1,370,000
($340,000+$610,000+$420,000)
Therefore the cost figures that should be used in setting a minimum bid price if Harlen has excess capacity is $1,370,000
Answer:
$33.80 per hour
Explanation:
The computation of the predetermined overhead rate is shown below:
= Estimated manufacturing overhead ÷ machine hours
= ($71,000 + $12,100 + $54,900 + $14,000 + $17,000) ÷ (5,000 machine hours)
= $169,000 ÷ 5,000 machine hours
= $33.80 per hour
Answer:
(D) $4,000
Explanation:
Initial amount distributed is $31,000
Earnings and Profit (E & P) $25,000
Therefore, Distribution in excess of earnings and Profit would be;
= Initial amount distributed - Earnings and Profit
=$31,000 - $25,000
=$6,000
Sally basis in her Dixie stock after the distribution would be ;
= Basis - Excess distribution
=$10,000 - $6,000
=$4,000
Dec 31
Dr Interest expense $72,000
Cr Interest Payable $72,000
($900,000*9%)
(Being to record the first year interest expense accrued)
<h3>What is Interest Payable? </h3>
Interest Payable is a liability account, shown on a company's balance sheet, which represents the amount of interest expense that has accrued to date but has not been paid as of the date on the balance sheet.
In short, it represents the amount of interest currently owed to lenders.
<h3>Is interest payable an asset?</h3>
Interest payable is a liability, and is usually found within the current liabilities section of the balance sheet.
Learn more about interest payable here:
<h3>
brainly.com/question/14608867</h3><h3 /><h3>#SPJ4</h3>
<span>According to the United States Department of Commerce; U.S. Direct Investment Abroad: Balance of Payments and Direct Investment Position Data report, the United States had the largest total outstanding stock of direct overseas investments at the beginning of 2014.</span>
