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Sloan [31]
3 years ago
8

If overapplied or underapplied overhead is material, it should be disposed of by allocating it to: Select one: a. Cost of goods

sold and finished goods inventory. b. Finished goods inventory and work in process inventory. c. work in process inventory, finished goods inventory, and cost of goods sold. d. work in process inventory. e. Raw materials inventory, work in process inventory, and finished goods inventory.
Business
1 answer:
noname [10]3 years ago
4 0

If overapplied or underapplied overhead is material, it should be disposed of by allocating it to Cost of goods sold and finished goods inventory.

Option A

Explanation:

Fixed Overhead expenses are allotted to on the basis of predetermined overhead rate to each unit. Sometimes overhead expenses estimated and actually incurred have differences.

If the actual overhead is more than overhead applied to production than it is called under applied overhead. When actual overhead is less than applied overhead than it is called over applied overhead.

Balance of difference of these overhead is debited or credited to Cost of goods sold of company.

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Criticism is only good when you know about the problem beforehand.
tino4ka555 [31]
The answer is False. 
8 0
3 years ago
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A __________________________ policy will cause a greater share of income to be collected from those with high incomes than from
ira [324]

Answer:

The correct answer is a progressive tax policy.

Explanation:

A progressive tax policy means higher tax rates for people with higher incomes. Tax rates are based on the tax payers' ability to pay. Lower taxes are charged from people with lower incomes. It is helpful in income redistribution.

People with lower income share a higher portion of their income on basic necessities as compared to people with higher income levels.

6 0
3 years ago
Chegg "​(Yield to​ maturity)  A​ bond's market price is ​$725. It has a ​$1000 par​ value, will mature in 14 ​years, and has a c
spayn [35]

Answer:

17.26%

YTM falls to 16.62%

YTM rises to 19.34%

Explanation:

The bond yield to maturity is the computed using excel rate formula given below:

=rate(nper,pmt,-pv,fv)

nper is the number of semiannual coupons the bond has i.e 14*2=28

pmt is the semiannual coupon of the bond=$1000*12%/2=$60

pv is the current market price of $725

fv is the face value of $1000

=rate(28,60,-725,1000)=8.63%

The 8.63%  is semiannual yield , the annual yield=8.63% *2=17.26%

28 years:

=rate(28*2,60,-725,1000)=8.31% *2=16.62%

7 years:

=rate(7*2,60,-725,1000)=9.67%*2=19.34%

3 0
3 years ago
What is the LIFO reserve?An amount used to adjust inventory to the lower-of-cost-or-marketThe difference between the value of th
pishuonlain [190]

Answer:

The difference between the value of the inventory under LIFO and the value under FIFO

Explanation:

The Lifo reserve an inventory account that represents the difference between the FIFO and LIFO inventory reporting methods. The account is used to bridge the gap between the two reporting systems. It is applied when a company uses FIFO to track stock movement and LIFO in preparing financial statements.  

A credit balance in the LIFO reverse helps reduce the cost of inventory when reporting in the balance sheet.

3 0
4 years ago
Cadwallader has had a 30% interest in C&C Associates, a partnership, since 20X9. In 20X14, the partnership is liquidated. Th
yawa3891 [41]

Answer:

correct option is b. $4,500 long-term capital loss

Explanation:

given data

assets = $50,000

fair market value = $60,000

basis = $65,000

adjusted basis before distribution = $34,500

liquidation in cash = $30,000

to find out

amount and type of loss should Cadwallader recognize on tax return

solution

we know here adjusted basis before distribution and liquidation in cash so we will get here amount and type of loss that is

amount and type of loss = adjusted basis before distribution - liquidation in cash  

amount and type of loss = $34,500 - $30,000

amount and type of loss = $4500  long term loss

so correct option is b. $4,500 long-term capital loss

7 0
3 years ago
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