Define Justice as it relates to Business

Bibby Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Bibby

Drupady [299]

Answer:

Answer:

1.) Overhead Absorption rate= $30 per hour

2) Absorbed overhead= $70,500

Over-absorbed overhead=$4700

3) Journal entry:

Debit Manufacturing overhead expense $4,700

Credit Cost of goods sold $4,700

Explanation:

Overhead Absorption rate = Budgeted overhead /Budgeted labour hours

= 72,000 /2,400 hours = $30 per hour

Absorbed overhead = OAR × Actual labour hours

=$30 × 2350 = $70,500

Over-absorbed overhead = Absorbed overhead - Actual overhead

= $70,500 - $65,800 = $4700

Journal entry:

Debit Manufacturing overhead expense $4,700

Credit Cost of goods sold $4,700

Answer:

Overhead Absorption rate= $30 per hour

Absorbed overhead= $70,500

Over-absorbed overhead=$4700

Journal entry:

Debit Manufacturing overhead expense $4,700

Credit Cost of goods sold $4,700

3 0

3 years ago

A project has a 0.7 chance of doubling your investment in a year and a 0.3 chance of halving your investment in a year. What is

dimaraw [331]

Answer:

68.74%

Explanation:

Expected return

=0.7*100%-0.3*50%

=55%

standard deviation=(0.70*(100%-55%)^2+0.30*(-50%-55%)^2)^(1/2)

=68.74% is answer

4 0

3 years ago

During July at Loeb Corporation, $83,000 of raw materials were requisitioned from the storeroom for use in production. These raw

user100 [1]

Answer:

Debit to work in process for $79,000

Explanation:

The journal entry is shown below:

Work in process Dr $79,000

To Direct material $79,000

(Being requistion from the storeroom is recorded)

Here work in process is debited as it increased the assets and credited the direct material as it decreased the assets

Working note

Total material requisitions. = $ 83,000

Less : Indirect material. =. ($ 4000)

Direct material $79,000

3 0

3 years ago

With so much information and moving parts within a company, technology has made it possible for employers to monitor many aspect

Luba_88 [7]

Answer:

<em>Workplace MIS monitoring</em>

Explanation:

Employee monitoring <em>is the act of using different workplace tracking techniques to collect data about personnel members ' practices and positions. </em>

In order to enhance efficiency and safeguard company assets, companies track their staff. First of all, the primary purpose is to avoid inexcusable conduct and, if the attempt fails, to reduce the conduct before it could have an adverse impact on the company.

4 0

4 years ago

Match each situation below to two applicable reasons that require an adjustment to be made.

____ [38]

1) A. C.

2) A. E.

3) B. C.

4) B. F.

5) A. E.

6) A. C.

7) B. F.

8) B. C.

Explanation:

1) Delta Airlines provided flights this month for customers who paid cash last month for tickets. Revenue has been earned. Liability has been incurred.

2) GSD+M completed work on an advertising campaign that will be collected next month. Revenue has been earned. Asset has been acquired.

3) Abercrombie received a telephone bill for services this month, which must be paid next month. Expense has been incurred. Liability has been incurred.

4) The Tiger Woods Foundation used up some of the benefits of its 35,000-square-foot building. Expense has been incurred. Asset has been used up.

5) IBM completed a consulting project for the CDC to simulate the spread of contagious viruses and will be paid next month. Revenue has been earned. Asset has been acquired.

6) This month Apple, Inc. redeemed iTunes gift cards that had been issued last month. Revenue has been earned. Liability has been incurred.

7) Schutt Sports used up some of the benefits of its football helmet manufacturing equipment. Expense has been incurred. Asset has been used up.

8) Procter & Gamble received a bill for this months advertising services, which it will pay next month. Expense has been incurred. Liability has been incurred.

4 0

3 years ago