Answer:
The correct answer is D
Explanation:
Computation of allocation of factory overhead cost for the Job NO 117:
Now, computing the rate of overhead allocation as:
Pre- determined rate of overhead allocation = Estimated aggregate overhead / estimated number of labor hours
where
Estimated aggregate overhead is $95,000
Estimated number of labor hours is 9,500 hours
Putting the values above:
= $95,000 / 9,500 hours
= $10 per hour.
Computing the overhead cost to be allocated to Job No 117 as:
Overhead cost to be allocated to Job No 117 = Number of direct labor hours × pre- determined rate of overhead
where
Number of direct labor hours is 2,300 hours
Pre- determined rate of overhead allocation is 10 per hour
Putting the values above:
= 2,300 hours × $10 per hour
= $23,000
Answer:
stock turnover = 5
Explanation:
stock turnover = total sales / average inventory = 350 units / 70 units = 5
Stock turnover is how many times a company has sold and replaced its average inventory.
Stock turnover is a good measure of sales necromancer, the higher the stock turnover, the better the sales performance. Usually a stock turnover between 4-6 is considered healthy.
Answer:
Window Dressing causes Adjusting and Closing entries.
Explanation:
Window Dressing the alteration of financial performance near the year-end to appear as if performance has improved. To make the window dressing entry, some temporary and permanent accounts will be adjusted, especially Sales Revenue and costs to generate paper profits. These adjusting entries are closed to the Income Summary. The permanent accounts which are temporarily closed to the Balance Sheet for the period will also require some adjusting entries.
<u>Answer:</u>
Corporations are the best business structure for most of business entrepreneurs. Sole Proprietorships offer no security at all. Partnerships are perplexing and liable to twofold tax assessment.
The benefit of sole ownership is what's called go through tax collection. The Sole ownership pay goes this through right to the proprietor's individual assessment form. This implies no corporate assessment form and no twofold tax assessment. Sole ownerships are additionally significantly simpler to set up, and they have adaptable administration.
<span>The debit would go to unearned revenue and there would be an accompanying credit to service revenue. In this manner, the service revenue (the money made from the services provided, shown here by the payment of the gift certificates) would receive a $1000 addition while the unearned revenue would drop by $1000 because the outstanding gift cards were spent, lowering the total amount of revenue earned that was still outstanding in those cards.</span>