Answer:B. 10% foreign exchange gain on the US dollar account receivable.
A. Transaction; translation
Explanation. An increase in the value of the Canadian dollar to US dollar will make the parent company to pay more than the value of the Canadian dollar incurred when buying the goods.
Transaction gains are earned from actual trading activity, while translation occurred while converting the currency of a subsidiary to the parents at year end during consolidation.
Answer:
3.6
Explanation:
The receivables turnover for the year is calculated as;
= Net sales(credit sales) ÷ Average accounts receivables
Average account receivables
= ($200,000 + $220,000) ÷ 2
= $210,000
Therefore, Receivables turnover
= $750,000 ÷ $210,000
= 3.6
Answer:
-260,000 current earings and profits
Explanation:
From the taxable income we are going to adjust to get the current earnings and profits
-500,000 taxable income
-20,000 non-deductible expenses
+10,000 exempt taxes
+250,000 deferred gain
-260,000 current earings and profits
Overhead rate per direct labor cost: 180%
Overhead rate per direct labor hour: 18
Overhead rate per machine hour: 9
Procedure:
Overhead rate per direct labor cost
= 894600 ÷ 497000
= 1.8
= 1.8 × 100
= 180%
Overhead rate per direct labor hour
= 894600 ÷ 49700
= 18
Overhead rate per machine hour
= 894600 ÷ 99400
= 9
Divide each operating activity cost by manufacturing overhead cost
What is overhead rate?
The overhead rate is a cost that is incurred during the manufacturing of a product or service. Overhead costs are expenses that are not directly related to production, such as corporate office costs. An overhead rate is applied to the direct costs associated with production to allocate overhead costs by spreading or allocating overhead costs based on specific measures.
Learn more about rate here:
brainly.com/question/17302739
#SPJ4