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mestny [16]
3 years ago
12

Aksamit corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. data for the mos

t recently completed year appear below: estimates made at the beginning of the year: estimated machine-hours 62,000 estimated variable manufacturing overhead $7.03 per machine-hour estimated total fixed manufacturing overhead $1,486,140 actual machine-hours for the year 61,100 the predetermined overhead rate for the recently completed year was closest to:
Business
1 answer:
sattari [20]3 years ago
3 0

The predetermined overhead rate can be obtained by calculating the total cost (variable cost + fixed cost) then dividing it to the amount of work hours. This is calculated based on the estimated machine hours.

Total cost = $7.03 * 62,000 + $1,486,140

Total cost = $1,922,000

The predetermined overhead rate is therefore:

Predetermined overhead rate = $1,922,000 / 62,000 hours

<span>Predetermined overhead rate = $31 / hr</span>

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Suppose output is $35 billion, government purchases are $10 billion, desired consumption is $15 billion, and desired investment
Alex17521 [72]

Answer:

Net foreign lending would be equal to <u>$4 billion</u>.

Explanation:

This can be computed using the formula for computing the total output of an open economy as follows:

Y = C + G + I + NX .................................. (1)

Where;

Y = Total Output = $35 billion

C = Desired consumption = $15 billion

G = Government purchases = $10 billion

I = Desired investment = $6 billion

NX = Net foreign lending = ?

Substituting the values into equation (1) and solve for NX, we have:

$35 = $15 + $10 + $6 + NX

$35 - $15 - $10 - $6 = NX

NX = $4 billion

Therefore, net foreign lending would be equal to <u>$4 billion</u>.

8 0
3 years ago
Which of the following is considered to be an accrued expense?
scoundrel [369]

Answer:

B. a computer technician has installed the latest software updates, but you have not received an invoice or made payment

Explanation:

An accrued expense arises when a service has been rendered to an individual or organisation but to which the recipient of the service has not made payment for the service. The expense will be recognized in the period in which the service is rendered. In this scenario, the technician has rendered a service by installing software updates but the organisation has not made payment for the service provided. This represents an accrued expense.

8 0
3 years ago
Bose Company issued $600,000, 14 % bond on January 1
Tasya [4]

Answer:

1) If bonds are issued as 100 entry will be

                                   Debit                                         Credit

Cash                            600,000

Bonds payable                                                              600,000

2) If bonds are issued at 95

                                     Debit                                        Credit

Cash                              570,000

Discount                          30,000

Bonds payable                                                               600,000

3) If bonds are issued at 105

Cash                               630,000

Bonds payable                                                                 600,000

Premium                                                                             30,000

4)

                                        Debit                                           Credit

Interest payable                42,000

Cash                                                                                    42,000

Explanation:

1) If the bonds are issued at 100 then the company will receive the same amount of cash as the face value so they will receive 600,000 cash and will owe the bond buyers 600,000 so they will debit 600,000 cash and credit 600,000 bonds payable.

2) If bonds are issued at 95 then the company will receive cash 95% of 600,000 which is 570,000 so they will debit 570,000 cash, 30,000 will debited as discount and 600,000 bonds payable.

3) If bonds are issued at 105 then the company will receive cash 105% of 600,000 which is 630,000 so they will debit 630,000 cash and will credit 600,000 bonds payable and 30,000 as premium.

4) The bonds are issued on January 1 and there is a journal entry of interest payment at July 1 so we assume that the bond has semi annual payments.

14% of 600,000 is 84,000 and we will divide it by 2 to find the semi annual payment which will be 42,000, so we will debit interest payable by 42,000 and credit cash by 42,000.

6 0
3 years ago
In the framework of monopolistic competition, which of the following is not a possible outcome for a firm that runs a successful
castortr0y [4]

Answer:

The correct answer is A)

Explanation:

When products and or services are manufactured at a level that maximizes social welfare, allocative efficiency is said to have occurred.

A market system characterized as monopolistic competition may <u><em>never </em></u>achieve productive efficiency because firms often fix prices at a point higher than their marginal costs.

Marginal cost refers to the added cost incurred by producing or manufacturing one additional unit of a product.

Cheers!  

5 0
2 years ago
All of the following statements regarding management accounting's role in assigning decision-making authority are true except: M
Olin [163]

Answer:

All statements are TRUE except Option "A"

Explanation:

Accounting control history is used for policy-making objectives, and historical information is redundant.

  • Managerial accounting is used for short-and long-term decision making that involve overall financial health. It helps businesses make administrative decisions–meaning to help increase the efficiency and productivity of the business–while also helping to make long-term investment decisions.

Therefore,all answers are correct except "A"

6 0
2 years ago
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