Answer:
Predetermined manufacturing overhead rate= $6.875 per machine-hour
Explanation:
Giving the following information:
The estimated manufacturing overhead costs are $275,000 and an estimated 40,000 machine hours.
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 275,000/40,000
Predetermined manufacturing overhead rate= $6.875 per machine-hour
Answer: The "Controlling" step of the management framework.
Explanation: Management principles have been categorised into 4 main functions namely: planning, organising, leading and controlling. In short this is known as the P-O-L-C framework. The aim of this framework is to act as a guide used to assist management in addressing challenges faced by the organisation.
In the monitoring step of the mission and vision statements development is analogous (related) to the controlling element of the framework. In this step, key milestones are identified and recognised over time. Using these milestones, progress is monitored and measured against the objectives of the organisation. Audit can be an important tool used during this step of the process, to confirm whether milestones are effectively monitored.
$1,333 - $1,200 = $133
Your gain was: $133
Option D
Revolving credit agreement short-term financing sources Kenneth utilizes to fund his business in the given scenario
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Explanation:</u></h3>
Revolving credit means is a line of credit that is established among a bank and a business. It has an organized peak amount, where the firm has a way to the funds at any time when demanded. It is required for companies that may seldom hold low cash surpluses to continue their networking capital demands.
Because of this, it is frequently regarded as a kind of short-term funding that is normally paid off suddenly. To begin the loan, a bank may impose a commitment fee. This remunerates the bank for holding an open way to a potential loan, where interest fees are only initiated when the revolver is carried.
The straight line depreciation expense in 2022 is $1500.
The straight line depreciation expense in 2023 is $3000.
<h3>What is the depreciation expense in 2022 and 2023?</h3>
The striaght line depreciation method spreads out the depreciation expense equally over the useful life of the project.
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($32,000 - $4,000) / 8 = $3000
The depreciation expense each year would be $3000 except in 2022 when the truck was used for 6 months.
Depreciation expense in 2022 = 6/12(3000) = $1500
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