Answer:
Predetermined manufacturing overhead rate= $240 per order
Explanation:
Giving the following information:
Ordering and Receiving Orders $ 120,000 500 orders
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 120,000/500
Predetermined manufacturing overhead rate= $240 per order
Answer:
B. resources to implement strategies are firm-specific and attached to firms over the long-term
Explanation:
Answer: True
Explanation:
As a result of the Accrual principle in accounting, transactions need to be recorded in the period that they occur in and not in the period they are paid for in.
The interest in Year 1 was incurred in year 1 and so will need to be recorded in year 1 for the period from issuance of the note to the last day of the accounting period.
This means that if the last day of the accounting period is December 31st, the interest for year 1 would have to be accrued from September to December of year 1 and recorded as year 1 interest.
