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spin [16.1K]
4 years ago
12

Hults Corporation has provided data concerning the company's Manufacturing Overhead account for the month of November. Prior to

the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $75,150 and the total of the credits to the account was $66,900. Which of the following statements is true?
A. Manufacturing overhead applied to Work in Process for the month was $68,800.B. Manufacturing overhead for the month was underapplied by $8,000.C. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $68,800.D. Actual manufacturing overhead incurred during the month was $60,800.
Business
1 answer:
Natalija [7]4 years ago
7 0

Answer:

Manufacturing overhead for the month was underapplied by $8,250.

Explanation:

Since in the question it is mentioned that the total debits of manufacturing overhead is $75,150 and the total credits of manufacturing overhead is $66,900

So the difference is of

= $75,150 - $66,900

= $8,250

This amount would be reflected as an underapplied overhead

This is the answer and the same is to considered

The all options that are given are wrong.

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Which of the following accurately describes the effect target costing has on the manufacturing design function? Select one: A. T
UkoKoshka [18]

Answer:

B. Target costing forces design engineers to explicitly consider the costs of manufacturing and other aspects of business that traditionally fall outside the engineering department

Explanation:

Target costing needs the design engineers to be active in meeting their customers projection, but it must be inside the target cost requirements. Engineers can not afford to just have their attention on the function and form of design, they must also observe cost under Target costing.

5 0
3 years ago
C Co. reported a retained earnings balance of $200,000 at December 31, 2010. In September 2011, C determined that insurance prem
timurjin [86]

Answer:

B. $214,000

Explanation:

The insurance premium paid for a 3 year period should not have been expensed out rightly but recognized as expense through periodic amortization spread over the entire period.

As such, the amount that should have been expensed in 2011 for insurance premium is

= 1/3 × $30,000

= $10,000

Recognizing an expense of $10,000 rather than $30,000 would have resulted in an increase in the tax expense by

= 70% × ($30,000 - $10,000)

= $14,000

As such, the retained earnings would have been

= $200,000 + $14,000

= $214,000

The overstatement of an expense would have resulted in an understatement of net income and thus and understatement of the retained earnings.

3 0
3 years ago
company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 3
olganol [36]

Answer:

Company A

The cost assigned to Ending Inventory under periodic inventory system and based on the weighted average method is:

= $465

Explanation:

a) Data and Calculations:

                                                        Units     Unit Cost  Total Costs

Beginning inventory on January 1   320        $ 3.00      $960 (320 * $3.00)

Purchase on January 9                      80           3.20         256 (80 * $3.20)

Purchase on January 25                  100           3.34          334 (100 * $3.34)

Total                                                  500         $3.10     $1,550 ($1,550/500)

Units sold                                        -350          $3.10    -$1,085 (350 * $3.10)

Ending inventory                             150           $3.10       $465 (130 * $3.10)

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3 years ago
Which of the following describes the process of inspiring, influencing, and guiding employees to participate in accomplishing co
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human resource development

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Which philosopher was a proponent of the phrase "honesty is the best policy"?
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B. Kohlberg, is right.
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