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1 year ago

The function that serves as an intermediary between an organization shipping a product and the actual carrier is.

1 answer:

7 0

The function that serves as an intermediary between an organization shipping a product and the actual carrier is Customer Broker.

<h3>What is Custom brokers?</h3>

Custom brokers , also known as customs house brokers, are roles that may be held by or linked to customs brokerage firms, independent companies, shipping lines, importers, exporters, independent businesses, and freight forwarders.
Those who hold a license as a customs broker are not considered to be "customs officials" by the government (in other countries the two terms may be interchangeable). The tariff schedule, a list of duty rates for imported goods, CATAIR, the legal and administrative requirements controlling importations, and other trade-related issues must all be known to customs brokers.
For instance, a customs broker can be required to inform an importer of the country-specific marking requirements or complete the paperwork for a consignment of clothes that is subject to quotas and visa restrictions.
It is possible to prevent delays, item seizures, and fines and penalties that may be imposed against the importer and/or broker by being aware of the criteria for each type of import.

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Apple Valley Corporation uses a job cost system and has two production departments, A and B. Budgeted manufacturing costs for th

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For Department A, the manufacturing overhead allocation rate is : 300%

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Explanation:

Apple Valley Corporation uses job cost system and it allocates overhead cost to job on basis of manufacturing labor cost.

1. To identify the manufacturing overhead allocation rate for department A:

(Manufacturing Overhead department A / Direct Manufacturing Labor Department A) * 100

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2. To identify the manufacturing overhead allocation rate for department B:

(Manufacturing Overhead department B / Direct Manufacturing Labor department B) * 100

= ($400,000 / $800,000) * 100

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3. To calculate the manufacturing overhead costs allocated to Job #432:

[(Department A direct labor * Manufacturing Overhead department A) / Direct Manufacturing Labor of department A ] + [(Department B direct labor * Manufacturing Overhead department B) / Direct Manufacturing Labor of department B ]

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Answer:

See the journal entry below.

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The journal entry will look as follows:

Date General journal Debit ($) Credit ($)

31 Dec 2019 Income tax expense 193,395

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Income tax payable 63,200

(To record income tax payable.)

31 Dec 2020 Deferred tax liability 87,750

Income tax payable 87,750

(To record income tax payable.)

31 Dec 2021 Deferred tax liability 41,445

Income tax payable 41,445

(To record income tax payable.)

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