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Sveta_85 [38]
3 years ago
10

Goods in process inventory account of a manufacturing company that uses an overhead rate based on the direct labor cost has a 4,

400 debit balance after all posting is completed. the cost sheet of the one job still in process shows direct materialcost of 2,000 and direct labor cost of 800. Therefore the companys overhead application rate is?
Business
1 answer:
mafiozo [28]3 years ago
7 0

Answer:

Overhead absorption rate

= Overhead absorbed/Actual labour cost x 100

= $4,400/$800  x 100

= 550% of direct labour cost

Explanation:

Since the overhead absorbed is $4,400, there is need to divide the overhead absorbed by actual direct labour cost multiplied by 100. This gives the overhead application rate.

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Currency held outside banks is $200 billion, money market mutual funds (retail) are $10 billion, small-denomination time deposit
ratelena [41]

Answer:

M2 = $470 billion.

Explanation:

M2 = Currency + Money market mutual fund + Time deposits + Saving deposits

M2 = 200 billion + 10 billion + 40 billion + 220 billion

M2 = $470 billion.

M2 is a calculation of the money supply that includes all elements of M1 as well as "near money"

3 0
3 years ago
The job of an ethics officer is to serve as a counselor for employees
quester [9]

True, an ethics officers' role is to act as a counsellor for employees as well as an investigator for the firm.

The Ethics Officer is the company's inner or internal control point for ethical and improper conduct, allegations, objections, and improprieties, as well as providing leadership and guidance on corporate governance problems.

Learn more:

brainly.com/question/18072443?referrer=searchResults

3 0
3 years ago
For each error below, indicate:
patriot [66]

Answer:

1. Inventory account will be affected and assertions of accuracy and valuation will be violated.

2. Assets are overstated and assertion classification is violated.

3. Liability is understated and assertions of accuracy is violated.

4. No impact.

Explanation:

Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.

8 0
2 years ago
Mrs. Turner is comparing her employer’s retiree insurance to Original Medicare and would like to know what services Original Med
irina1246 [14]

Answer:

Original Medicare covers ambulance services.

Explanation:

Since in the question it is mentioned that the Turner compared her employer retired insurance with respect to the Original Medicare and also she would like to know whether what services are covered if the prescribed criteria are met

So here the original medicare covers the ambulance services as this is a pre hospitalization charges that are mentioned in the insurance policy

5 0
3 years ago
Use the following selected 2016 balance sheet and income statement information for Home Garden Supply Co. (in millions) to compu
zepelin [54]

Answer:

3.76 times

Explanation:

The computation of the asset turnover is shown below:

Asset turnover = Net sales ÷ Average total assets

= $1,356,504 ÷ $360,600

= 3.76 times

By dividing the net sales from the average total assets, the asset turnover could arrive i.e 3.76 times

This is the answer but the same is not provided in the given options

8 0
3 years ago
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