Grouping pieces of information together to expand the effective capacity of short-term memory is termed ________

Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $3

Slav-nsk [51]

Answer:

a. $2.4

b. $10,000 under-applied

c. Cost of goods sold A/c Dr $10,000

To Manufacturing overhead $10,000

Explanation:

a. The computation of the manufacturing overhead rate is shown below:

Manufacturing overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

= $300,000 ÷ 125,000 hours

= $2.4

(B) Now we have to find the actual overhead which equals to

= Actual direct labor-hours × predetermined overhead rate

= 130,000 hours × $2.4

= $312,000

So, the ending overhead equals to

= Actual manufacturing overhead - actual overhead

= $322,000 - $312,000

= $10,000 under-applied

c. The adjusting entry is shown below:

Cost of goods sold A/c Dr $10,000

To Manufacturing overhead $10,000

(Being the under-applied overhead is adjusted)

5 0

3 years ago

This information relates to Marigold Real Estate Agency for the month of October, 2022. Oct. 1 Stockholders invested $41,000 in

gregori [183]

Answer:

Explanation:

Journal entries:

Oct 1

Dr Cash 41,000

Cr Common stock 41,000

Oct 2

No entry

Oct 3

Dr Equipment 4,400

Cr Accounts payable 4,400

Oct 6

Dr Accounts receivable 13,000

Cr Sales 13,000

Oct 10

Dr Cash 170

Cr Service revenue 170

Oct 27

Dr Accounts Payable 880

Cr Cash 880

Oct 30

Dr Salaries expense 2,500

Cr Cash 2,500

4 0

3 years ago

Read 2 more answers

Viviano Corporation issued a new bond, and hired your bank as its underwriter. In an upcoming talk with its CFO, you are expecte

Flura [38]

Answer: d. decrease the market price

Explanation:

Interest rates and the prices of bonds are negatively correlated as one increasing means that the other is decreasing.

The reason is this: when market interest rates rise, investors will move away from bonds to other investments because bonds offer a fixed payment and so will be less attractive than other investments which would be offering higher returns based on the higher market rates.

The drop in demand for bonds will lead to their prices falling as per the rules of demand and supply.

8 0

3 years ago

How many years will it take you to accumulate $30,000 for a down payment on a house if you deposit $12,000 today and you expect

DENIUS [597]

Answer:

9.61 years

Explanation:

For this question , we use the NPER formula that is presented in the attached spreadsheet

Given that,

Present value = $12,000

Future value = $30,000

Rate of interest = 10%

PMT = $0

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the answer is 9.61 years

3 0

3 years ago

Feedback is important in improving our performance, and we should solicit feedback, and not just wait until someone provides us

nlexa [21]

A. True. Feedback is very Important to improving things

7 0

3 years ago

Grouping pieces of information together to expand the effective capacity of short-term memory is termed _________.