On November 1, 2021, Ziegler Products issued a $200,000, 9-month, noninterest-bearing note to the bank. Interest was discounted
1 answer:
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Answer:
COGS 3807 debit
FG 7896 debit
WIP 2397 debit
Factory Overhead 14,100 credit
--to record the underapplication of overhead--
Explanation:
overhead rate:
$515,000 overhead / 515,000 labor cost = $1
each labor cost generates a dollar of overhead.
221,400 x 1 = 221,400 overhead in COGS
459,200 x 1 = 459,200 overhead in Finished Goods
139,400 x 1 = 139,400 overhead in WIP inventory
Total applied 820,000
Actual 805,900
Underapplied 14,100
Now we weight each concept and determiante the portion underapplocated in each concept
Answer:
The correct options are as follows
Buyers will pay all of the tax.
The price of Humbugs will rise to $60.
The quantity of Humbugs demanded will not change.
Explanation:
As the question is not complete, the complete question is found online and is attached herewith.
The options given are as follows
Sellers will pay all of the tax.
Buyers will pay all of the tax.
The price of Humbugs will rise to $60.
The price of Humbugs will rise by less than $10.
The quantity of Humbugs demanded will not change.
Now option 1 is not correct as the buyer has to pay the tax not the seller.
option 2 is correct
option 3 is correct
option 4 is not correct as the initial price is $50 and the new price is to be more than $60 thus the rise is more than $10.
option 5 is correct as the demand of the hamburger will remain the same.
