Answer:
the applied overhead is $38,788.24
Explanation:
The computation of the amount of overhead applied is given below:
0.70 ÷ 1.70 × applied overhead + $23,900 + $71,700 = $39,190 + $150,610
0.70 ÷ 1.70 × applied overhead = $94,200
applied overhead is
= $38,788.24
Hence, the applied overhead is $38,788.24
Answer:
The correct answer is Option is B.
Explanation:
The par value of shares is simply the stated value of shares in the company's books, as set out in the company's charter.
The full necessary journals to record the above transactions are:
Debit Cash (1,000 x $16) $16,000
Credit Common stock (1,000 x $10) $10,000
Credit Paid-in capital in excess of par value - common $6,000
<em>(To record issuance of common stock)</em>
So, the correct option is B.
Answer:
b.(Actual Price × Actual Quantity) – (Standard Price × Actual Quantity)
Explanation:
The material price variance shows how favourable or otherwise the actual material price is compared to the standard price. Where the actual material price is higher than the standard price, it results in an unfavorable variance and when the standard price is higher than the actual price, it results in a favourable variance.
The formula for the material price variance
= (Actual price - Standard price) × Actual quantity
= (Actual price × Actual quantity) - (Standard price × Actual quantity)
Hence the right option is b.
Answer:
Revised balance = $8000
Explanation:
Milo Company uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $ 150 comma 000, and management estimates 4% will be uncollectible.
Milo Company's balance of Allowance for Uncollectible Accounts after adjustments, was $ 5 comma 000.
The following year, Milo Company wrote off $ 3 comma 000 of old receivables as uncollectible.
The Allowance account balance now will be:
Amount of Uncollectible Accounts for the year = 4% x $150,000 = $6000
Previous balance is $5,000 less amount written off $3000 = $2000
Revised balance = $6,000 + $2000 which is $8000
Answer:
a. the increase in total resource cost associated with the production of one more unit of output.
Explanation:
Consider the following calculation
The MRC=TC at N inputs -TC at (N-1) inputs
The marginal resource cost is an addition cost of a new input hired.