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erastova [34]
3 years ago
13

Under normal costing, the actual manufacturing overhead costs incurred during the period are added to the work in process accoun

t.
Business
1 answer:
fenix001 [56]3 years ago
3 0
I will assume this is a true or false question. The answer is false. 
In the normal costing, the current prices in the market are being used for a direct materials and labor. The overhead rate is only estimated. It uses the estimates of the labor and the material as also the overhead. 

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The FDIC ruled that a company had violated the FTC Act. What penalty can the company expect?
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Answer:

b

Explanation:

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3 years ago
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct materials requirement per uni
nataly862011 [7]

Answer:

Option $18,262

Explanation:

Data provided in the question:

Budgeted production units for July = 7,900

Budgeted production units for August = 8,100

Direct material required per unit = 2 ounces

safety stock of direct materials = 20% of the units budgeted in the following month

Direct material in inventory at the start of July = 3,160 ounce

Materials cost = $1.15 per ounce

Now,

Budgeted material required in July

= Budgeted production units for July × Direct material required per unit

= 7,900 × 2

= 15800 ounces

Budgeted material required in August

= Budgeted production units for August × Direct material required per unit

= 8,100 × 2

= 16,200 ounces

Direct materials requirement in July

= Budgeted material required in July + safety stock - Direct material in inventory at the start of July

= 15800 + (20% of 16,200 ) - 3,160

= 15800 + 3,240 - 3,160

= 15,880 ounces

Cost of direct material

= Direct materials requirement in July × Materials cost

= 15,880 ounces × $1.15 per ounce

= $18,262

Option $18,262

3 0
3 years ago
Who is richer -Jeff Bezos or Bill Gates?​
rodikova [14]

Answer:

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Explanation:

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3 years ago
Read 2 more answers
Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.8 million ca
Phantasy [73]

Answer:

A a) Journal Entry for Precision Castparts

Debit Bank $39.8 million Credit Note Payable $39.8 million

b) Journal Entry for Midwest bank

Debit Note Receivable $39.8 million Credit Bank $39.8 million

B a) Journal Entry for Precision Castparts

Debit Interest Expense $796,000 Credit Interest Payable $796,000

b)  Journal Entry for Midwest bank

Debit Interest Receivable $796,000 Credit Interest Income $796,000

C a) Journal Entry for Precision Castparts

Debit Note Payable $39.8 million Debit Interest Payable $796,000 Debit interest Expense $2,388,000 Credit Bank $42,984,000

b) Journal Entry for Midwest bank

Debit  Bank $42,984,000 Credit Note Receivable $39.8 million Credit Interest Receivable $796,000 Debit interest Income $2,388,000

Explanation:

Interest up to 31 Dec 2021

Interest = 39,800,000*8% = $3,184,000*3/12 =$796,000

8 0
3 years ago
Suppose that you start working for a company at age 25. You are offered two rather unlikely, but quite enticing, retirement plan
Harlamova29_29 [7]

Answer:

Total amount= $600,000

Explanation:

Giving the following information:

Suppose that you start working for a company at age 25.

<u>Option 1:</u>

$20,000 for each year of work.

Number of years of service= 55 - 25= 30 years

<u>Now, the total retirement plan:</u>

Total amount= 30*20,000= $600,000

8 0
3 years ago
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