I would see the process ends with the receipt of the goods. I used to work for a large open pit mine and go to the purchasers for buying materials for drilling etc and there would be first the requisition, then the purchaser would contact the seller or client and order the goods, then they would be purchased with the right account and finally received.

8 0

3 years ago

If estimated annual factory overhead is $480,000; overhead is applied using direct labor hours; estimated annual direct labor ho

VashaNatasha [74]

Answer:

Undeapplied overhead= $200

Explanation:

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 480,000 / 200,000

Predetermined manufacturing overhead rate= $2.4 per DLH

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 2.4*17,000

Allocated MOH= $40,800

Finally, the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 41,000 - 40,800

Undeapplied overhead= $200

4 0

3 years ago

FedEx Corporation (FDX) had the following revenue and expense account balances (in millions) for a recent year ending May 31:

suter [353]

Answer and Explanation:

The preparation of the income statement is presented below:

Revenue $26,300

Expenses:

Depreciation expense $985

Fuel expense $3,438

Maintenance and repairs expense $1,675

Other expense(income) net $5,319

Provision for Income taxes $857

Purchased Transportation $1,281

Rentals and Landing fees $1,862

Salaries and Employee benefits $9,387

Net income $1,496

4 0

3 years ago

Payments that are provided to workers who are unable to work for an extended

atroni [7]

Answer:

Paid sick leave benefit

Explanation:

The amount of this benefit usually included in the initial contract when you signed up for the job. Not all companies provide this since it's not required under the federal law.

in most cases, companies who implement Paid sick leave will transfer the amount of money each month in order to help sustaining the life of their employees since they have no capability to work for additional income.

7 0

3 years ago