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artcher [175]
3 years ago
9

Silver Mfg. provided the following information from its accounting records for 2008: Expected production 20,000 labor hours Actu

al production 18,800 labor hours Budgeted overhead $400,000 Actual overhead $384,000 How much is the overhead application rate if Silver bases the rate on direct labor hours? Select one: a. $20.43 per hour b. $20.00 per hour c. $19.20 per hour d. $21.28 per hour
Business
1 answer:
Lemur [1.5K]3 years ago
3 0

Answer:

Option (b) is correct.

Explanation:

Expected production = 20,000 labor hours

Actual production = 18,800 labor hours

Budgeted overhead = $400,000

Actual overhead = $384,000

overhead\ application\ rate\ per\ direct\ labor=\frac{Estimated\ factory\ overhead\ cost}{Estimated\ direct\ labor\ hours}

overhead\ application\ rate\ per\ direct\ labor=\frac{400,000}{20,000}

= $20 per hour

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Kevin works in an airline office. He has a habit of visiting social networking sites on his office computer during work hours. W
andreyandreev [35.5K]

Option e, using company resources for personal use

He should use his own phone or home device, and not at work

3 0
2 years ago
Read 2 more answers
Bethea Financial Services had a debit balance of $32,217 in their Fair Value Adjustment account on December 31, 2020. Based on t
kaheart [24]

Answer:

Debit

$14,181

Explanation:

Given:

Fair Value Adjustment account = $32,217 (Debit)

Net unrealized gain = $46,398 (Credit)

According to Fair Value Adjustment account , Debit balance is lower than Credit balance, So they should Debit (Fair Value Adjustment account)

Debit amount = Net unrealized gain - Fair Value Adjustment account

Debit amount = $46,398 - $32,217

Debit amount = $14,181

5 0
3 years ago
A Whopper combo meal costs $3.00 and gives you an additional 15 units of utility; a meal at the Embassy Suites costs $29.00 and
Olenka [21]

Answer:

be indifferent between the two meals

Explanation:

Marginal utility is the additional satisfaction received from consuming an additional unit of a good or service. Marginal utility is the additional utility derived from consuming one more unit of a good. the consumption decision is to consume more units of a good that gives the higher utility per good.

Marginal utility per good = marginal utility / price of the good

Whopper combo meal = 15 / 3 = 5

a meal at the Embassy Suites = 145 / 29 = 5

both meals have the same marginal utility of 5. She would be indifferent between consuming the two meals

8 0
3 years ago
1- According to economist Milton Friedman which of the following is the main purpose of a business?
Stells [14]

Answer:

A mean purpose of business is to get profit

Explanation:

because in a business there is amount of money invested

8 0
2 years ago
During its first year in business, Comfy Home accounted for its inventory using the last in first out (LIFO) method. In the seco
Dmitry [639]

Answer:

Consistency principle

Explanation:

Accounting principles are defined as the general rules of.axcpunting that businesses are expected to follow when reporting financial information.

Accounting principles include:

- Accrual principle

- Conservatism principle

- Consistency principle

- Cost principle

- Economic entity principle

- Full disclosure principle

- Going concern principle

- Matching principle

- Materiality principle

- Monetary unit principle

- Reliability principle

- Revenue recognition principle

- Time period principle

Consistency principle requires one the continue using an accounting method consistently for future accounting periods so that information can be easily comparable.

In the given scenario the accountant tells Tenisa that US GAAP allows a company to choose its inventory valuation method as long as it doesn't change over time without a justifiable reason.

This is an example of consistency principle

5 0
2 years ago
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