Answer:
Cash account reconciliation
Balance: $27,060
- Bank charges: ($40)
+ Error in recording check: $360
Reconciled cash account: $27,380
Bank account reconciliation:
Balance: $28,460
+ Deposit in transit: $4,410
- Checks outstasnding: ($5,490)
Reconciled bank account: $27,380
Answer:
The total sales commissions at a sales volume of 35,000 units is $403,000.
Explanation:
The first step to solve this problem is find how much the commisions are for a single sale.
At a sales volume of 38,500 units, Choice Corporation's sales commissions (a cost that is variable with respect to sales volume) total $442,750.
So for a single sale, the commissions are 442,750/38,500 = 11,5.
So for each sale, there is $11.5 in commisions.
What should be the total sales commissions at a sales volume of 35,000 units?
35000*11.5 = $403,000
The total sales commissions at a sales volume of 35,000 units is $403,000.
Answer:
Reduced expenses: One of the most practical benefits of demoting an employee is the reduction in the pay you will have to give them. In cases where the company has to cut costs or where the employee is simply not generating enough value to justify their salary, you can demote them to reduce expenses.
Explanation:
Answer:
b. 2
Explanation:
Simple interest is calculated using the formula
I = p x r x t
Where p= principal amount
r= interest rate
t= time in years
Mary invested $200, at 5% for three years. She earned a simple interest of;
I= $200 x 5/100 x 3
=$200 x 0.05 x 3
=$30
If John received the same amounts, It means
$30= $300 x 0.05 x t
$30 = $15t
t= $30/$15
t=2
Time is 2 years
Answer and Explanation:
The computation is shown below:
a. The predetermined overhead rate is
= $660,000 ÷ 100,000
= $6.60
(b) The amount is
For Job 345, it is
= 560 hours × $6.60
= $3,696
And,
For Job 777, it is
= 800 hours × $6.60
= $5,280
(c) The journal entry is
Work in Process $8,976
To Factory Overhead $8,976
(Being the factory overhead applied is shown below:
= $3,696 + $5,280
= $8,976