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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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Does herschel walker do 1000 pushups a day?

BaLLatris [955]

Er macht nicht 1000 Liegestütze pro Tag

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3 years ago

Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions

balu736 [363]

Answer:

Gram Co.

Statement of cash flows

For the month ended May 31, 202x

Cash flows from operating activities:

Net income $5,590

Adjustments to net income:

Increase in accounts payable $80

Net cash flow from operating activities $5,670

Cash flows from investing activities:

Purchase of office equipment ($2,020)

net cash flow from investing activities ($2,020)

Cash flows from financing activities:

Issuance of common stock $43,500

Paid dividends ($1,600)

Net cash flow from financing activities $41,900

Net cash increase during May $45,550

Initial balance of cash account $0

Ending balance of cash account (5/31) $45,550

Explanation:

operating cash flows:

rent expense ($2,400)

cleaning services ($780)

service revenue $5,300 + $2,400 + $3,200

assistant's salary ($790)

accounts payable increased by $80

assistant's salary ($790)

utilities bill ($550)

total revenue = $10,900

total expenses = $5,310

net income = $5,590

investing cash flows:

purchased equipment for $1,940

purchased office equipment $80

financing cash flows:

Issuance of common stock $43,500

paid dividends ($1,600)

7 0

3 years ago

Journalize the following transactions into the general journal in accordance with the rules of Journalizing, and the Double-entr

Ludmilka [50]

Answer:

May 24

Dr Retained earnings $1,500

Cr Cash $1,500

Being cash dividend paid to shareholders.

October 11

Dr Advertising Expense $1,000

Cr Cash $1,000

Being cash payment for monthly advertising expenses.

Explanation:

Rules:

Debit side:

Increase in asset

Increase in expense

Decrease in liability

Decrease in equity

Decrease in income or sales

Credit side:

Decrease in asset

Decrease in expense

Increase in liability

Increase in equity

Increase in income or sales

May 24

Dr Retained earnings $1,500

Cr Cash $1,500

Being cash dividend paid to shareholders.

October 11

Dr Advertising Expense $1,000

Cr Cash $1,000

Being cash payment for monthly advertising expenses.

8 0

2 years ago

Presented below is information related to Splish Company. Cost Retail Beginning inventory $362,797 $286,000 Purchases 1,370,000

KiRa [710]

Answer:

$200,455

Explanation:

For calculating the inventory by the conventional retail inventory method. we required to do the following computations which are shown below:

Using cost method

Goods available for sale:

= Beginning inventory + Purchases

= $362,797 + $1,370,000

= $1,732,797

Using retail method

Goods available for sale:

= Beginning inventory + Purchases + Net markups - Net markdowns

= $286,000 + $2,145,000 + $80,300 - $27,800

= $2,483,500

Now

Cost to retail ratio = $1,732,797 ÷ ($286,000 + $2,145,000 + $80,300)

= $1,732,797 ÷ $2,511,300

= 0.69

Now

Estimated ending inventory at retail

= Goods available for sale under Retail method - Sales revenue

= $2,483,500 - $2,193,000

= $290,500

So,

Estimated ending inventory at cost:

= Estimated ending inventory at retail × Cost to retail ratio

= $290,500 × 0.69

= $200,455

5 0

3 years ago

A bond with 25 years to maturity, 7% coupon, quoted on a 6.25% basis is callable in 10 years at 103, 15 years at 102, and 20 yea

jarptica [38.1K]

Answer: 10 years to call

Explanation:

Maturity period = 25 years

Coupon rate = 7%

6.25% basis is,

Callable in 10 years at 103

Callable in 15 years at 102

Callable in 20 years at par

This bond is considered as premium bond. Therefore, in case of premium bonds, Yield to call will be lower than the yield to maturity. Here, the question is which call date should be utilized. According to the rule of thumb, it states that always use the term that is nearest to the whole call date.

Hence, on the customer's confirmation, the dollar price quoted must be based on 10 years to call.

8 0

3 years ago