The euro is the common currency across Europe.
Answer:
Kenya performs research and creates reports for her boss, the company's Chief Executive, Kenya's job title is best
described as an Executive Administrative Assistant
Liz responds to people who contact a company. She deals with people who visit the office in person and people who
call or email the company. Her job title is best described as a Receptionist
Neil handles important paperwork that his office needs to keep track of. He sorts paperwork and keeps it handy so he
can retrieve information whenever it is needed. His job title is best described as a File Clerk.
Salvador organizes information and appointments for a department manager. He also reviews and sorts e-mail for his
boss. His job title is best described as an Administrative Assistant.
Explanation:
The administrative assistants, receptionists, and file clerks perform important functions. In their various capacities and roles, they help their bosses to function more efficiently and effectively by relieving them of routine tasks. As they perform these duties, their bosses are enabled to concentrate their efforts and time in managing their assigned responsibilities. However, these job titles are not universally uniform, as it depends on the organization.
True. One reason to use a predetermined overhead rate is to eliminate the effect of seasonal factors.
<h3>What is a predetermined overhead rate?</h3>
This is the term that is used to refer to the allocation rate that is used in the determination of the estimated cost of the manufacturing overhead. It is used to show in either the order of the product or that of the job.
Hence based on this question we can say that it is true because the reason to use a predetermined overhead rate is to eliminate the effect of seasonal factors.
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Answer: See explanation
Explanation:
a. Calculate the predetermined overhead rate Overhead Rate per hour
Predetermined Overhead rate will be the estimated total manufacturing overhead divided by the estimated total direct labor hours. This will be:
= $ 921,600/51,200
= $ 18
(b) Calculate how much manufacturing overhead will be applied to production
Manufacturing overhead that'll be applied to production will be the predetermined overhead rate multiplied by the actual total direct labor hours. This will be:
= $ 18 × 48,900 direct labor hours
= $ 880,200
(c) Is overhead over- or underapplied? By how much?
The Actual Overhead Incurred = $902,900 while the manufacturing overhead applied = $880,200. This shows that overhead is underapplied due to the fact that manufacturing overhead applied is less than the actual overhead that is incurred.
Therefore, the amount of overhead that was underapplied will be:
= $ 902,900 - $ 880,200
= $ 22,700
(d) What account should be adjusted for over-or underapplied overhead? Should the balance be increased or decreased?
Based on the scenario in the question and the answers calculated, the cost of goods sold should be increased.
Answer:
$47,500
Explanation:
Since the payment is made monthly in advance for the period of 5 years, therefore the present value of annuity formula shall be used for the purpose of calculating the Present value of lease, which is given as follow:
Present value of annuity=R+R[(1-(1+i)^-n)/i]
In the given question
R=Rent per month paid in advance=$1,000
i=interest compounded monthly=10%/12=0.83%
n=number of payments involved=(12*5)-1=59
Present value of annuity=1,000+1,000[(1-(1+0.83%)^-59)/0.83%]
=$47,500
