Answer:
Estimated manufacturing overhead rate= $77 per direct labor hour
Explanation:
Giving the following information:
Production:
Product A: 1,850 units
Product B: 1,250
Hours required:
Product A: requires 0.3 direct labor-hours per unit
Product B: requires 0.6 direct labor-hours per unit.
The total estimated overhead for the next period is $100,485.
First, we need to calculate the total amount of direct labor hours required:
Total direct labor hours= 0.3*1,850 + 0.6*1,250= 1,305 hour
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 100,485/1,305= $77 per direct labor hour
Answer:
<h2>The journal entry is shown below:</h2>
Explanation:
The journal entry for recording the establishment of the fund is as:
On September 1
Petty cash A/c.....................Dr $250
Cash A/c...........................Cr $250
Being recording the petty cash in the books
As creating the fund for the petty cash in the books, the account of petty cash is debited as there is increase in the assets which is debited. And the petty cash is created against cash. Therefore, the cash account is credited.
When a financial institution supplies a standardized financial product such as a mortgage, it is<u>: reducing transaction costs.</u>
<h3>What is an institution that manages and accommodates a nation's finances?</h3>
A central bank is a financial institution that is accountable for overseeing the monetary system and policy of a nation or group of nations, controlling its money supply, and setting interest rates.
<h3>Who uses financial institutions?</h3>
Almost everyone maintains a protection or checking account, uses debit or credit cards, or needs a loan. Online banking is an electronic way to view account training and pay bills via the Internet and an institution's website.
To learn more about financial institution ,refer
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Answer:
The answer is "Operating expense of $800,000 and liability of $800,000".
Explanation:
It's obvious from its government that the company must recall any paint cans which have proved health hazardous. Its organization must remember its $800,000 in canned cans. The cost of recall would also be referred to as administration fees since these costs aren't linked to its production of the paints. All operations of the company were performed. It must be held responsible for the calculation of the recalling costs.
Answer:
Given:
12% bonds have a face value of $35,000,000
Bonds sold for $37,702,483 based on the market interest rate of 10%.
∴
The interest expense on July 1 can be computed as
Interest expense = Bonds sold × Effective market interest rate (
= 5%)
= $37,702,483 × .05 (1/2 of the effective interest rate)
= $1,885,124
⇒ The interest expense on July 1 is $1,885,124
