Answer:
This is known as Bank panic
Explanation:
Bank panic happens when in a banking system, many banks suffer from a bank run, that is, many of its depositors loss their confidence that the bank may repay their deposit, thus they want to withdraw their deposit put with the bank.
As Banks operating using notably high leverage, many of its assets are not highly liquid ( e.g: loans, bonds that will not be paid until maturity) and the fact that they lend to and borrow from each others frequently and heavily, a bank run happens for one bank may cause liquidity issues to not only that bank but also other banks in the systems.
Having understood that, people tend to speculate that a run on one bank will cause significant problem to the systems, and a likely probability that bank panic occurs.
Answer:
Allocated MOH= $234,000
Explanation:
Giving the following information:
Predetermined overhead rate= $9 per direct labor hour.
Actual direct labor hours= 26,000
<u>To allocate manufacturing overhead, we need to use the following formula:</u>
<u></u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 9*26,000
Allocated MOH= $234,000
Answer:
The correct answer is: expert power.
Explanation:
Expert power is power derived from the belief of workers that a manager or some other member of an organization has a high level of knowledge or some sort of unusual skills not acquired or displayed by other employees or coworkers of the company. This provides the skilled worker a certain influence at the moment of deciding workers of the same hierarchy.
Answer:
$252,000
Explanation:
Calculation for the cost of goods sold for the Askew Company for the year ending June 30, 2021.
First step is to calculate the Net Purchase
Purchases 259,000
Less Purchase discounts (7,900)
Less Purchase returns (11,900)
Add Freight-in 20,800
Net purchase 260,000
Now let calculate the cost of goods sold
Inventory, 7/1/2020 33,900
Add 260,000
Less inventory balance ($41,900)
Cost of goods sold $252,000
Therefore the cost of goods sold for the Askew Company for the year ending June 30, 2021 will be $252,000
