Answer: c.$71 per machine hour
Explanation:
The Pre-determined Overhead rate is the rate Thomlin Company forecasted that the company would incur total overhead for the current year.
They forecasted total overhead of $11,597,000 with 164,000 total machine hours.
Since the rate is based on Machine Hours the rate would be,
= Total Forecasted Overhead / Total Forecasted Machine Hours
= 11,597,000 / 164,000
= 70.71
= $71
Answer:
a. 5.819 million
b. $709918
Explanation:
Below is the calculation:
a. Total number of adult population = 253 million
Total employed adult = 253 x 59.7% = 151.041
Number of employed adult after increase in employment rate = 253 x 62% = 156.86
More people would be working = 156.86 - 151.041 = 5.819 million
b. GDP per capita is $122,000, so increase in GDP = 5.819 x 122000
Increase in GDP = $709918
A subsidized loan is such a loan where the borrower is allowed to borrow up to the cost of attendance less any other aids received.
<h3>What is a subsidized loan?</h3>
A type of education or student loan where the amount to be borrowed is determined as per the cost of the student's attendance, which is subtracted from other financial benefits received in this regard, is known as a subsidized loan.
Hence, subsidized loan is explained as above.
Learn more about subsidized loans here:
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Answer:
Debit Accounts Receivable, credit Allowance for Doubtful Accounts.
Explanation:
To record the collection of accounts receivable previously written off when using the allowance method, the first step is to debit Accounts Receivable, and then credit Allowance for Doubtful Accounts. This purpose of this to reverse the already written off amount.
The next step after that is to complete the entries by debiting Cash, and crediting the Accounts Receivable to record the cash collection in respect of previously written off accounts receivable.
