Answer:
The correct answer is letter "D": is considered an offer.
Explanation:
A subcontractor is an individual who is granted part of the work of a contractor. Subcontractors perform their duties under the supervision of the contractor and not the employer who hired the contractor. <em>When subcontractors place bids, they are considered offers that can be negotiated with the contractor directly</em>.
Answer:
Total cost= $2,040
Explanation:
Giving the following information:
Total machine-hours 30,000
Total fixed manufacturing overhead cost $ 252,000
Variable manufacturing overhead per machine-hour $ 2.10
Job T687:
Total machine-hours 30
Direct materials $675
Direct labor cost $1,050
First, we need to calculate the estimated overhead rate:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= (252,000/30,000) +2.1= $10.5 per machine-hour
Now, we can calculate the total cost of Job T687:
Total cost= direct material + direct labor + allocated overhead
Total cost= 675 + 1,050 + (10.5*30)= $2,040
Answer:
A) Shering's operating activities reported a $490,000 pretax profit, and since their tax rate is 40%, their taxes = $490,000 x 40% = $196,000
B) Shering only has to include 30% of the dividends received from Tank as taxable income = $20,000 x 30% = $6,000, plus the $20,000 from bonds form Zig = $26,000
Shering will owe $26,000 x 40% = $10,400 in taxes, and its after tax income = $40,000 - $10,400 = $29,600
Answer:
Debit Office Furniture account $710
Credit Cash account $170
Credit Accounts payable $710
Being entries to recognize office furniture partly paid for.
Explanation:
When items are purchased using cash, the corresponding credits in such transactions are recorded in the cash account. Where the item is purchased on account (or credit), the credit is posted to accounts payable.
Total worth of the office furniture = $170 + $540 = $710
The total debit for this will be recorded in the office furniture account.
Hence to recognize the transaction,
Debit Office Furniture account $710
Credit Cash account $170
Credit Accounts payable $710
Being entries to recognize office furniture partly paid for.
