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4 years ago

7

Mechanics usually have better information about how to fix automobiles than their costumers do. What problems does this advantag

e create? Do mechanics or their customers do anything to limit these problems?

1 answer:

Alexeev081 [22]4 years ago

3 0

In my opinion, the problem creates time and money for the customers.

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Actual results for January: The manufacturing overhead in the flexible budget for January would be closest to: g

Aleks04 [339]

Question Completion:

The manufacturing overhead in the flexible budget for March would be closest to:

A. $371,650

B. $371,281

C. $373,630

D. $374,300

Where the fixed overhead is $45,700 and the actual direct labor hours is 6,150 instead of 6,300 (at a predetermined overhead rate of $53 per DLH).

Answer:

The manufacturing overhead in the flexible budget for January would be closest to:

A. $371,650

Explanation:

a) Data and Calculations:

Fixed overhead = $45,700

Estimated direct labor hours = 6,300

Actual direct labor hours = 6,150

Predetermined overhead rate = $53 per DLH

In the static budget, the manufacturing overhead will be equal to:

= $45,700 + ($53 x 6,300)

= $379,600

But the flexible budget manufacturing overhead will be based on the actual hours of direct labor, thus:

= $45,700 + ($53 x 6,150)

= $371,650

4 0

3 years ago

Peace Company began the accounting period with a $14,000 debit balance in its accounts receivable account. During the accounting

Mrac [35]

Answer:

$50,000

Explanation:

Based on this information, the cash collected from accounts receivable during the period is $50,000. This can be calculated in the following way. Since the Company started the period with a $14,000 debit balance and ended that period with only $8,000 it means that $6,000 was used. Since it was used, it means that it was deducted from the actual collected total. Therefore to find this total we add these $6,000 to the revenue for that period which was $44,000. This totals up to $50,000.

3 0

3 years ago

In 2019, Sayer, who is single, have an outright gift of $53,000 to a friend, Johnson, who needed the money to pay medical expens

AlekseyPX

Answer:

$53,000

Explanation:

Remember, Johnson, needed the money to pay medical expenses. It is important to note that even though any gift is a taxable gift, there are many exceptions to the tax rule. One such gift that is not taxable is; Medical expenses you pay for someone.

In filing the 2019 gift tax return Sayer would by entitled to an exclusion of $53,000.

6 0

4 years ago

A customer, age 60, has a fixed annuity contract with a value of $16,000. The cost basis in the contract is $10,000. If the cust

g100num [7]

Answer:

$5,000 taxable

Explanation:

In this scenario, the tax consequence of withdrawal will be $5,000 taxable. This is because annuity contract contributions are not tax-deductible, meaning that the original contribution of $10,000 has already been taxed. Therefore in this situation all $5,000 will be taxable, luckily since the individual is over the age of 59 1/2 then the distribution is not subjected to a 10% penalty tax for premature distribution.

6 0

3 years ago

On December 31, 2018, Wellstone Company reported net income of $73,000 and sales of $202,000. The company also reported beginnin

erma4kov [3.2K]

Answer:

$191,000.00

Explanation:

The cash amount of cash collected from customers is the amount of sales revenue in the year 2018 adjusted for changes in accounts receivable balances as shown by the formula below:

cash collected from customers=sales revenue+begining accounts receivable-ending accounts receivable

sales revenue=$202,000

the begining accounts receivable=$16,500

the ending accounts receivable=$27,500

It is expected that cash received would be sales less the increase in accounts receivable

cash collected from customers=$202,000+$16,500-$27,500

cash collected from customers=$191,000.00

6 0

3 years ago