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kvv77 [185]
3 years ago
5

Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct professional labor hours. Overhead was esti

mated to be $160,000, direct professional labor hours were estimated to be 20,000, and direct professional labor cost was projected to be $360,000. During the year, Armour incurred actual overhead costs of $159,000, actual direct professional labor hours of 19,500, and actual direct labor cost of $265,000. By year-end, the firm's overhead was___________.
Business
1 answer:
Aleks04 [339]3 years ago
8 0

Answer:

Firm's overhead/Overhead Under Applied=$3,000

Explanation:

First calculate predetermined overhead:

Predetermined overhead= Estimated Overhead / Estimated labor hour

Predetermined overhead=\frac{\$160,000}{20,000}

Predetermined overhead=$8 per labor hour

Overhead Applied=Predetermined overhead * actual direct professional labor hours..

Overhead Applied=$8 per labor hour*19,500

Overhead Applied=$156,000

Since Overhead Applied is less than actual overhead, so difference is under applied.

Overhead Under Applied=Actual overhead costs-Overhead Applied

Overhead Under Applied=$159,000-$156,000

Firm's overhead/Overhead Under Applied=$3,000

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Beacon​ Roofing's bank statement shows a bank balance of​ $43,267. The statement shows a bank service charge of​ $80 and a note
EleoNora [17]

Answer:

The Beacon​ Roofing's book balance should be adjusted by a total​ of $43,977

Explanation:

For computing the right amount of book balance, the following adjustments are required which is shown below:

1. Bank Balance = $43,267

2. Less - Bank service charge = - $80

3. Add: Notes collection = $790

So, the adjusted book balance equals to

= Bank balance - Bank service charge + notes collection

= $43,267 - $80 + $790

= $43,977

The notes collection is an income so it is added whereas the bank service charge is an expense so it would be deducted.

Hence, the Beacon​ Roofing's book balance should be adjusted by a total​ of $43,977

6 0
3 years ago
A(n) _____ is elected by the stockholders of a corporation to oversee its general operation and set long-term objectives.
wariber [46]
A board of directors<span> is elected by the stockholders of a corporation to oversee its general operation and set long-term objectives.  A board of directors can serve for a for-profit business, non-profit business, or on a government agency. The board of directors are voted in and recognized as important decision  makers. </span>
8 0
3 years ago
​A television network decides to run a series of news stories highlighting the need for stronger regulations over gun sales and
DiKsa [7]
This is an example of.... Libtards... I mean the Democratic system that’s running&ruining this country.
7 0
2 years ago
Please answer the following questions:
Oduvanchick [21]

The price elasticity of the loan taken by the entrepreneur comes out to be 10.

<h3>What is the price elasticity of demand?</h3>

The price elasticity of demand is an indicator used to determine the sensitivity of demanded quantity with respect to its corresponding price.

Given values:

Change in quantity demanded: 50%

Change in price: 5%

Computation of price elasticity of demand:

\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=\frac{\rm\ Change \rm\ in \rm\ quantity \rm\ demanded}{\rm\ Change \rm\ in \rm\ price} \\\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=\frac{50\%}{5\%} \\\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=10

Therefore, when the change in quantity demanded is 50% with the change in the price is 5%, then the price elasticity of a business loan is equal to 10.

Learn more about the price elasticity in the related link:

brainly.com/question/10610673

#SPJ1

4 0
1 year ago
Which of these government policies pursues the economic goal of equity?
Fudgin [204]

"Providing welfare benefits" government policies pursues the economic goal of equity.

<u>Option:</u> B

<u>Explanation:</u>

To ensure economic stability the government offers welfare benefits for the vulnerables. Welfare benefits are federal programs supported by the government for the families and individuals who need such assistance. Welfare benefits include reimbursement for unemployment, food stamps and support for health care. There seem to be six significant welfare programs in the United States. These include

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4 0
3 years ago
Read 2 more answers
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