Answer and Explanation:
The journal entry is shown below;
Cash $656,600
Factoring charges (2% of $670,000) $13,400
To Trade Receivables $670,000
(Being recording these receivables)
Here cash and factory charges is debited as it increased the assets and expense while the trade receivable is credited as decreased the assets
Answer:
b. credit to factory overhead for $432,000.
Explanation:
Before recording the factory overhead costs we need to do the calculations which are shown below:
For computing the ended overhead amount, first, we have to compute the predetermined overhead rate. The formula is shown below:
Predetermined overhead rate = (Total estimated factory overhead) ÷ (estimated direct labor-hours)
= $360,000 ÷ 30,000 hours
= $12
Now we have to find the actual overhead which equal to
= Actual direct labor-hours × predetermined overhead rate
= 36,000 hours × $12
= $432,000
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $377,200- $432,000
= $54,800 under-applied
Answer:
C monopolies act in ways that hurt consumers
Trust
Answer:
Answer A = $9,000
Answer B = $6,400
Answer C = $7,632
Answer D = $54,000
Answer E = $71,063
Explanation:
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Answer:
The Democratic Party believes the wealthiest Americans and largest businesses must pay their fair share of taxes :3
Explanation:
:3
