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3 years ago

Overapplied manufacturing overhead would result if:

1 answer:

4 0

Manufacturing overhead describes the difference between manufacturing overhead cost applied to work in process and manufacturing overhead cost actually incurred during a period.
Over-applied manufacturing overhead would result if the manufacturing overhead cost applied to work in process is more than the manufacturing overhead cost actually incurred during a period. So, in over-applied overhead the applied overhead is bigger than the actual overhead.

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What are two examples of high-tech industries?

-BARSIC- [3]

Answer:

Idk if this is the right answer but I Google it and I got virtual reality/artificial intelligence and autonomous vehicles

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2 years ago

On January 1, 2009, Coronado Industries purchased for $690000, equipment having a useful life of ten years and an estimated salv

JulijaS [17]

Answer:

There is not gain in this operation so the answer is $0

Explanation:

There are some journal entries that needs to be done to have a full picture of the statement

* Purchase

Fixed Assets 690.000

Cash 690.000

* Monthly depreciation

Since, the FA was depreciated during 8 years. Firstly you have to calculate the amount that can be depreciate on a monthly basis

Amount to be depreciated = (Cost of the FA - Salvage value) = (690.000-48.600) = 641.400

Then calculate the yearly depreciation

Yearly depreciation = ((amount to be depreciated/useful life) * years used) =

(641.400/10*8) = 513.120

then the journal entry to record the monthly depreciation for 8 years is

Depreciation expense 513.120

Acc Depreciation 513.120

* Post the Journal Entry to record the sell of FA

You have to reverse the Acc Depreciation and credit the FA

Cash 152.500

Fixed assets 690.000

Acc depreciation 513.120

Loss on sale of FA 24.380

6 0

3 years ago

The supply of product X is perfectly inelastic if the price of X increases by _______ and, as a result of the price change, the

konstantin123 [22]

Answer:

c) 10%; stays the same.

Explanation:

Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price.

Supply is perfectly inelastic if a change in price has no effect on quantity supplied. The quantity supplied remains unchanged despite changes in price.

I hope my answer helps you

7 0

2 years ago

A corporation issued 2,500 shares of its no par common stock at a cash price of $11 per share. The entry to record this transact

Rus_ich [418]

Answer:

B. Debit cash $27,500 ; Credit common stock $27,500

Explanation:

The journal entry to record the transaction is;

Cash account Dr $27,500

(2,500 shares × $11)

To Common stock account Cr $27,500

Cash is an asset hence debited because it decreases as it was used to pay for bills while common stock is credited because it increases shareholder's equity.

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3 years ago

Assume the following information for Larkspur Corp. Accounts receivable (beginning balance) $145,000 Allowance for doubtful acco

gregori [183]

Answer: See the required journal entries below.

Explanation: See below steps to record the transactions that occurred during the period and recognize ultimately the bad debt expense.

Step 1: Recognize the transactions during the period

Debit Accounts receivables $944,000

Credit Sales revenue $944,000

(To recognize the sales on account)

Debit Cash $901,000

Credit Accounts receivable $901,000

(To recognize sales collection)

Debit Allowance for doubtful account $6,300

Credit Accounts receivable $6,300

(To recognize the write-off of accounts receivable)

Debit Cash $2,200

Credit Bad debt recovery (income statement/other income) $2,200

(Collection of accounts receivable previously written off)

Step 2: Movement schedules of accounts receivable and allowance for doubtful accounts

Accounts receivable

Balance, beginning of the period $145,000

Addition: Net credit sales 944,000

Less: Collections 901,000

Write-off 6,300

Balance, end of the period $181,700

Allowance for doubtful accounts

Balance, beginning of the period $11,480

Less: Write-off 6,300

Balance, end of the period (unadjusted) $5,180

Step 3: Journals for bad debt expense

Debit Bad debt expense [(9% * $181,700) - $5,180] $11,173

Credit Allowance for doubtful account $11,173

(To record bad debt expense for the period)

8 0

3 years ago