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Effectus [21]
3 years ago
12

Factory overhead includes:_________.a. direct materials unansweredb. direct laborun answeredc. indirect labor unansweredd. depre

ciation on factory equipment unanswerede. depreciation on general and administrative computers unansweredf. factory utilities unansweredg. general and administrative utilities
Business
1 answer:
Ganezh [65]3 years ago
8 0

Answer:

indirect labor and indirect materials

Explanation:

Factory overhead refers to the costs that are incurred during the manufacturing process of a certain business or company but does not include the costs of direct labor and direct materials. Factory overhead includes indirect labor and indirect materials. These costs are usually added into the cost pools and allocated towards units produced during that specific business period.

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A firm underwriting of a municipal bond issue usually has a number of different broker-dealers involved. Those who earn the tota
Ymorist [56]

Answer:

Selling syndicate members

Explanation:

Selling syndicate members is a term used in business or finance to describes part of a broker-dealers of a municipal bond issue. They are charged with the responsibilities of selling the bonds allotted to them.

From the sales of each bond, the total takedown, including the additional takedown is earned.

Hence, in this situation, the correct answer is Selling Syndicate Members

5 0
3 years ago
Willis Company made a $280,000 investment in new machinery. Assuming the company's margin is 7%, what income will be earned if t
uysha [10]

Answer:

the income earned is $39,900

Explanation:

The computation of the income earned is shown below:

As we know that

Margin (%) = Income earned ÷ Sales revenue

Therefore,

Income earned = Additional sales  Margin percentage

= $570,000 × 7%

= $39,900

hence, the income earned is $39,900

We simply applied the above formula so that the correct value could come

And, the same is to be considered  

8 0
3 years ago
Presented below are income statements prepared on a LIFO and FIFO basis for Sunland Company, which started operations on January
DiKsa [7]

Solution :

A.                                              Kenseth Company

                                   Income Statement (for the year ended)

                                                      2017        2016

Sales                                             3000        3000

Cost of goods sold                      1100           940

Operating expenses                    1000          1000

Income before profit sharing      9000         1060

Profit sharing expense                 96              100          

Net Income                                 $ 804          $ 960

The company must report $\$ \ 100$ as profit sharing expense in 2016, even though, profit sharing of expense may be $\$ \ 106$ if FIFO had been used in the year 2016.

B. The profit sharing of expense reflects the indirect effect of the change in an accounting principle. Under the SFAS No. 154, the indirect effects from period before the change are recorded in the year of the change.

In this case, profit sharing expense recorded in the year 2007 is composed of :

$ 900 x 10%     =   $ 90 (year 2017 under the FIFO)

$ 60 x 10%   = $ 6 (difference in the profit sharing for the year 2016)

       Net        = $ 96 (profit sharing expense for the FIFO in year 2017)

C.                              Retaining earnings statement of 2017

   Retained earning, Jan 1 as reported                                 $ 8000

   Cumulative effect of the change to $FIFO$ ($960 - $900)    $ 60

  Retained earnings , Jan 1, as adjusted                               $ 8060

  Add $:$ Net income                                                                   $\$ \ 804$

 Deduct $:$  Dividends                                                                   $ 500

 Retained earnings, Dec 31                                                       $ 8364

6 0
2 years ago
Joe Donney operates a roller skating center. He has just received the monthly bank statement at August 31 from Citizens National
dlinn [17]

Answer:

Donney actually have $1,577 at August 31, 2014

Explanation:

Prepare a Bank reconciliation to determine the accuracy of the Cash Balance using the following steps

Step 1

<em>Update the Cash Book (Bank Column) Balance</em>

<u>Cash Book (Bank Column)</u>

Debit :

Balance as at August 31                     $1,620

Rent collection                                      $375

Total                                                    $1,995

Credit :

Service charge                                         $9

Dishonored Checks                              $137

Printing Charge                                      $20

Error : Understatement                        $252

Balance as per updated CB              $1,577

Total                                                    $1,995

Step 2

<em>Prepare a Bank Reconciliation Statement</em>

<u>Bank Reconciliation Statement as at August 31</u>

Balance at Bank as per updated Cash Book       $1,577

Add Unpresented Checks                                       $756

Less Lodgements not yet credited                     ($1,695)

Balance as per Bank Statement                             $638

Conclusion :

Now that we have reconciled the Updated Cash Balance of $1,577 to the Bank Statement we can safely say Donney actually has $1,577 cash at August 31, 2014.

3 0
3 years ago
A product is scarce when what happens?
blondinia [14]
D. Demand is greater than supply
8 0
3 years ago
Read 2 more answers
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