Answer:
Predetermined manufacturing overhead rate= $14.65 per direct labor hour
Explanation:
Giving the following information:
Estimated direct labor hours= 40,000
Estimated fixed overhead= $466,000
Estimated variable overhead rate= $3.00 per direct labor-hour.
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (466,000/40,000) + 3
Predetermined manufacturing overhead rate= $14.65 per direct labor hour
Answer: you will only receive a record of your payment if you pay bills online
Explanation:
Question Completion:
Describe the accounting treatment of Supplies Expenses.
Answer:
Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.
Explanation:
This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.
