True or false? adults are categorized as those ages 25

Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its m

algol [13]

Answer:

option (b) $69,768

Explanation:

Data provided in question:

Estimated manufacturing overhead = $73,440

Estimated machine-hours = 1,800

Actual manufacturing overhead = $68,700

Actual machine-hours = 1,710

now,

The predetermined overhead rate = $\frac{\textup{Estimated manufacturing overhead}}{\textup{Estimated machine-hours}}$

or

The predetermined overhead rate = $\frac{\textup{73,440}}{\textup{1,800}}$

or

The predetermined overhead rate = $40.8 per hour

Therefore,

The applied manufacturing overhead for the year

= Actual machine-hours × predetermined overhead rate

= 1,710 × $40.8

= $69,768

Hence,

the correct answer is option (b) $69,768

5 0

4 years ago

Which one of the following groups of accounts only have debit balances

scoray [572]

Answer: b. Sales Returns, Wages, Machinery, Discount Allowed

Explanation:

Sales returns reduce the sales made. Sales are put on the credit side so transactions that will reduce sales such as sales returns would have to go on the debit side.

Wages are an expense and expenses are debited to show they are increasing so they have a debit balance.

Machinery is an asset and assets have debit balances.

Discount allowed reduces the sales balance and as mentioned above, transactions that reduce sales go on the debit side so this has a debit balance as well.

4 0

3 years ago

David bought a pickup truck to transport his equipment on weekend fishing trips. He also bought a trailer for his lawn maintenan

trasher [3.6K]

Answer:

B2C and B2B, respectively.

Explanation:

The pickup that David bought to transport equipment on weekend fishing trips should be considered a business to consumer (B2C) transaction David will use it for recreational activities.

The trailer that David bought to transport his lawn maintenance equipment should be considered a business to business (B2B) transaction David will use it for his lawn maintenance business.

6 0

3 years ago

1. Purchased computers for $20,000 from Data Equipment on account. Select an effect 2. Paid $3,000 cash for May rent on storage

nata0808 [166]

Answer:

The question is not complete.

Here is the complete question:

Keystone Computer Timeshare Company entered into the following transactions during May 2017.

Describe the effect of each transaction on assets, liabilities, and stockholders' equity.

1. Purchased computers for $20,000 from Data Equipment on account. Select an effect

2. Paid $3,000 cash for May rent on storage space. Select an effect

3. Received $15,000 cash from customers for contracts billed in April. Select an effect

4. Performed computer services for Ryan Construction Company for $2,700 cash. Select an effect

5. Paid Midland Power Co. $11,000 cash for energy usage in May. Select an effect

6. Stockholders invested an additional $32,000 in the business. Select an effect

7. Paid Data Equipment for the computers purchased in (1) above.

Select an effect

8. Incurred advertising expense for May of $840 on account.

Here is the answer:

Transaction Effect on asset, liabilities and equity

1 Increase in asset(computer account) by $20,000

and increase in liabilities (account payable) by

$20,000

2 Decrease in asset(cash account) by $3,000 and

decrease in equity (rent expense account) by

$3,000

3. Increase in asset (cash account) by $15,000 and decrease in

asset (account receivable) by $15,000. Net effect is zero.

4. Increase in asset (cash account) by $2,700 and increase in

equity (service revenue account) by $2,700

5. Decrease in asset (cash account) by $11,000 and decrease in

equity (Energy expense account) by $11,000

6. Increase in asset (cash account) by $32,000 and increase in

equity (common stock account) by $32,000

7. Decrease in asset (cash account) by $20,000 and decrease in

liabilities (account payable) by $20,000

8. Increase in liabilities (accrued advertising expense) by $840

decrease in equity (advertising expense account) by $840

Explanation:

Assets are economic resources of the firm in which future economic benefits are expected to flow to the entity. Liabilities are the entity`s financial obligation to those who are not the owners of the business. Equity is the residual value after deducting am entity`s assets from its liabilities.

With this background, business transactions and events are recorded either as increase or decrease in asset, liabilities and equity.

6 0

3 years ago

Sarasota company manufactures pillows in the cutting and assembly process. pillows are manufactured in 40-pillow batch sizes. th

Viefleur [7K]

Answer: c. 12 minutes

Value added time is the amount of time it takes to actually produce and improve a product. In the case of Sarasota company who manufactures pillows, value added time is the production time which is 4 minutes in cutting and 8 minutes in the assembly, total of 12 minutes.

8 0

3 years ago

True or false? adults are categorized as those ages 25–64.