Answer:
Under applied to the extent of $ 63,620
Explanation:
We have to compute the predetermined overhead rate on direct labor hours.
Estimated overhead $ 242,400
Estimated direct labor hours 7400 hours
Predetermined overhead rate on direct labour hours $ 32.76 per hour
Applied overhead based on actual direct labor hours
5,500 labor hours * $ 32.76 per hour = $ 180,180
Actual manufacturing overhead <u>$ 243,800</u>
Underapplied overhead $ 63,620
Answer:
It is the sum of the owner's capital and company's total liabilities is equal to the company's total assets at a particular point of the time.
Answer:
The correct answer is: cyclically adjusted deficit.
Explanation:
The cyclically adjusted budget deficit can be defined as the budget deficit that exists when the economy is operating at its full potential or at full employment level.
It is caused because of economic slowdown and not changes in fiscal policies. The economists use the cyclically adjusted budget to evaluate the effects of fiscal policies.
When there is a cyclically adjusted budget deficit, the fiscal policy is expansionary.
Answer:
Difference between managerial accounting and financial accounting is described as follows:-
- Managerial accounting is the accounting process for observing and recording business transaction whereas information and facts of accounts that are collected to make financial statement called financial accounting.
- Managerial accounting reports about the issue and obstruction that are occurring in the business processes and the measure to fix it are planned whereas financial accounting deals with profit generation .
- Managerial account processes by accounting every level of business internally but financial accounting look business as a whole level.
Answer:
$20,000
Explanation:
For computing the Doug withdrawal amount, first, we have to compute the net income or net loss which is shown below:
Net income/loss = Revenue - expense
= $350,000 - $380,000
= -$30,000
Now Doug share in net loss = Net loss × (his share ÷ total share)
= - $30,000 × (2 ÷ 6)
= - $10,000
We knew that the Doug capital is $30,000 and his share in loss is $10,000
So, its withdrawal amount = $30,000 - $10,000 = $20,000
