_____ occurs when a party gives a loan at an interest rate exceeding the legal maximum.

Crimp corporation uses direct labor-hours in its predetermined overhead rate. at the beginning of the year, the estimated direct

Anton [14]

First of all, the predetermined overhead will be calculated.

Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hour

Predetermined overhead rate = $ 258,000 ÷ 15,000 hours = $ 17.20 per direct labor hour

Actual manufacturing overheads = $ 253,000

Applied manufacturing overheads = Predetermined overhead rate × Actual direct labor hours

Applied manufacturing overheads = $ 17.20 × 13,100 = 225,320

Applied manufacturing overheads are less than actual manufacturing overheads, thus overheads are under applied.

Actual manufacturing overheads - Applied manufacturing overheads = $ 27,680 under applied

4 0

3 years ago

The pay rates in the organization may not match the pay structure in the market when a company sets its pay rates based strictly

Grace [21]

There are discrepancies between the pay rates of a company and the pay structure in the market when a company sets its pay rates strictly based on a <u>pay policy</u><u> line</u>.

A pay rate can be defined as a measure of the amount of money that is being paid by a company to its employees (workers) per period of work or unit of production, which is usually on a hourly, weekly, or monthly basis.

In business management, discrepancies would generally exist between the pay rates of a company and the pay structure in the market when a company sets its pay rates strictly based on a <u>pay policy</u><u> line</u>.

Read more on pay rate here: brainly.com/question/4443190

6 0

1 year ago

Ryan bought a stock three years ago for $6 a share. Today, June 22, the stock is selling for $72 a share. Ryan is afraid that th

dem82 [27]

Answer:

B) Ryan's stock was sold for $9 a share causing him to lose most of his profits.

Explanation:

Stop loss order means the limit the loss to the extent investor has opted. Since Ryan placed a stop loss order at $70, so, when the price of the stock starts at $9, the stock would be sold at $9 because it is the next available price to what he placed a stop loss order.

So, the Answer is Ryan stock is sold for $9 a share causing him to lose most of his profits.

6 0

2 years ago

Monette Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of

hoa [83]

Answer and Explanation:

The preparation of cash collection budget is shown below:-

Cash Collection Budget

For the month of January through March

January February March Quarter

Cash sales $43,500 $37,500 $58,500 $139,500

Collection on Credit sales

20% month of sale $20,300 $17,500 $27,300 $65,100

40% month after $33,600 $40,600 $35,000 $109,200

24% two months after $17,640 $20,160 $24,360 $62,160

Total Cash collection $115,040 $115,760 $145,160 $375,960

Working Note 1

November December January February March

Total Sales $105,000 $120,000 $145,000 $125,000 $195,000

Cash sales $31,500 $36,000 $43,500 $37,500 $58,500

Credit sales $73,500 $84,000 $101,500 $87,500 $136,500

Credit sales is 70% of Total sales every month

Cash Sales is 30% of Total sales every month

Working Note 2

January February March Quarter

Cash sales $43,500 $37,500 $58,500 $139,500

Cash collection from credit sales of

November $17,640 $17,640

December $33,600 $20,160 $53,760

January $20,300 $40,600 $24,360 $85,260

February $17,500 $35,000 $52,500

March $27,300 $27,300

Total collections $115,040 $115,760 $145,160 $375,960

6 0

2 years ago

Jordan, Inc., holds 75 percent of the outstanding stock of Paxson Corporation. Paxson currently owes Jordan $400,000 for invento

Marat540 [252]

Answer:

Because this is an inter-entity balance then the amount that should be eliminated of this debt is the letter D. all the $400,000.

Explanation:

Inter entity balance facilitates the management of allocations and transfers between entities. They provide a better control over transactions spanning multiple entities, other benefit is that the accuracy of the financial data improves and finally and this is why the anser is option D. is that it keeps each entity in balance

4 0

2 years ago