Answer:
Overhead absorption rate = Budgeted overhead
Budgeted machine hours
= $36,000/90,000 hrs
= $0.4 per machine hour
The amount of manufacturing overhead to be allocated to the job
= $0.4 x 900 machine hours
= $360
Explanation:
There is need to calculate the overhead absorption rate which is budgeted manufacturing overhead divided by budgeted activity level.
Then, we will multiply the overhead absorption rate by the actual machine hours of 900 hours.
Answer:
Adjusting Entries
December 31
Dr. Insurance Expense $2,000
Cr. Prepaid Insurance $2,000
December 31
Dr. Supplies Expense $8,200
Cr. Supplies account $8,200
Explanation:
On December 31, six months have been accrued and all of the amounts of prepaid insurance became accrued. hence it will be recorded as an expense.
Now calculate the supplies expense using the following formula
Supplies expense = Beginning Supplies + Purchases during the year - Ending Supplies = $6,600 + $2,800 - $1,200 = $8,200
Answer:
B
Explanation:
Institutional advertising is when your trying to promote a company and not just a product. In example A it is promoting a hand cream. In example C it is promoting a grass seed. and in example D is is promoting the model with more power. Although in example B it gives out the key word Our products meaning that it is talking about the company's products/ company. Thus based on the definition it is B.
Answer:
A. Product APEX
Explanation:
This is the correct answer.
Answer: Demand will fall, Interest rates will fall
Explanation:
The investment tax credit would have encouraged more companies to seek loanable funds in order to embark on investment opportunities because they would be taxed less. This increase in demand in the market for loanable funds would have led to rates rising to keep up with demand.
If Congress were to end this credit, the incentive to invest and avoid tax would be gone. Companies would therefore demand less loanable funds and with this drop in demand there will be a drop in interest rates as well to entice people to borrow at the lower rates.
