Answer:
c) AICPA accounting and auditing guide, Audits of Colleges and Universities and/or AICPA SOP 74-8, Financial Accounting and Financial Reporting by Colleges and Universities.
Explanation:
As accounting and auditing guide which is issued by AICPA for health care 3 gives full guidance on how to deal with financial reporting issues for the hospital so the accountant would look into it for any problem related to it.
Answer:
A
Explanation:
Discretion meaning the company gave Herb the ability and thr freedom dto do as deem fit for this particular situation.
Pension plans, health insurance, paid vacation and holidays, and the like are non financial forms of compensation provided to employees.
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Explanation:</u></h3>
The term compensation refers to something that is given to an individual for the things lost or for some injuries that happened at the working place. They can be either monetary or non monetary compensation. Compensation plays a major role in motivating the employees and make them work effectively.
Financial forms of compensation includes bonus, commissions, overtime pay, profit sharing, stock options,etc. Non financial forms of compensation includes Pension plans, health insurance, paid vacation and holidays, retirement and employment services,etc.
Answer:
usually, a useful consideration that is needed to aid a contract may be either a loss to the promisee or a benefit to the promisor. The loss to the promisee usually may come in form of his own doing by involvement in illegal dealings. Douros did what or was involved in what he was not expected to do legally by revealing the location of the property and the owner's name. This leads legal consideration and also the courts will hardly take a peep/ look at the adequacy of the consideration.
Explanation:
Answer: D. underapplied overhead of $6,000.
Explanation:
First we find the Pre-determined overhead rate and we can see that the company estimated manufacturing overhead would be $150,000 and direct labour hours would be 10,000.
So the Pre-determined rate is,
= 150,000/10,000
= $15 per direct labour hour.
We then calculate the actual Applied Overhead. The actual direct labour was 12,000 so calculating we have,
= 15 * 12,000
= $180,000
Now we then calculate for the Underapplied or (Overapplied) manufacturing overhead amount.
The formula is,
Underapplied (Overapplied) Manufacturing = Actual Manufacturing Overhead - Applied Manufacturing Overhead
Underapplied (Overapplied) = 186,000 - 180,000
= $6,000
It is a positive number so it is $6,000 underapplied therefore option D is correct.
