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nadezda [96]
2 years ago
5

Bretthauer Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of July. Prio

r to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $55,000 and the total of the credits to the account was $66,000. Which of the following statements is true?
a. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $55,000.
b. Manufacturing overhead applied to Work in Process for the month was $66,000
c. Actual manufacturing overhead incurred during the month was $66,000
d. Manufacturing overhead for the month was underapplied by $11,000
Business
1 answer:
Elanso [62]2 years ago
7 0

Answer:

b. Manufacturing overhead applied to Work in Process for the month was $66,000

Explanation:

In posting the journal entries for a manufacturing company, the total of the amount on the credit side of the Manufacturing Overhead account represents the amount applied to and to be posted to the debit side of the Work in Process to complete the double entries.

Therefore, the correct option form the question is b. Manufacturing overhead applied to Work in Process for the month was $66,000.

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The cost slope of an activity $ 250/day. The normal duration of this activity is 15 days, the crash cost is $1,500 and the maxim
Vesna [10]

Answer: $1000

Explanation:

To calculate the normal cost of this activity, we will use the formula:

Cash slope = (Crash cost - Normal cost) / (Normal duration - Crash duration)

250 = (1500 - Normal cost) / (15 - 5)

250 = (1500 - Normal cost) / 10

Cross multiply

(250 × 10) = 1500 - Normal cost

2500 = 1500 - Normal cost

Normal cost = 2500 - 1500

Normal cost = $1000

3 0
3 years ago
This year, Santhosh, a single taxpayer, estimates that his tax liability will be $100,000. Last year, his total tax liability wa
Alekssandra [29.7K]

Answer:

a) Is Santhosh required to increase his withholding or make estimated tax payments this year to avoid the underpayment penalty?

  • No he is not required to make any payments or increase his withholdings because this year's withholdings already represent a 133% increase with respect to last year's tax liability. If the withholdings for the current are over 100% last year's tax liability, then the taxpayer doesn't need to make any further adjustments in order to avoid underpayment penalties.

b) By how much, if any, must Santhosh increase his withholding and/or estimated tax payments for the year to avoid underpayment penalties?

  • $0

6 0
3 years ago
There are linkages between the microeconomic decisions made by managers and the macroeconomic environment. There are numerous ex
allochka39001 [22]

Answer:

One typical example of this linkage between the economy at the macroeconomic level, and business decisions at the macroeconomic and microeconomic level, is what happened with Lehman Brothers in 2008.

Explanation:

Lehman Brothers was one of the main investment banks in the United States. During the years prior to the financial crisis, Lehman Brothers decided to pursue a risky but profitable strategy of over leveraging -lending a lot more money than they had as deposits.

Once the financial crisis hit, a macroeconomic event, it affected the company at the macro and micro level. At the macro level because Lehman Brothers itself ceased to exist as it went bankrupt, and at the micro level, because it had to enter a process to pay off some debtors, and some of the employees who were laid off due to the dissolution of the firm.

4 0
2 years ago
If labor cost are 55,000 dollers for concession staff, 82,500 dollers for security and 45.000 for parking lot operations and 49,
Pani-rosa [81]

Answer:

43%

explanation:

add them all up for x. then add the concession and parking lot costs for y. finally divide y/x.

Explanation:

7 0
2 years ago
Listed below are several transactions. For each transaction, indicate whether the ca financing, or noncash activity. Also, indic
mariarad [96]

Answer:

1. <u>Operating and Cash outflow:</u> Payment of employee salaries.

2. Investing and Cash inflow: Sale of land for cash. Investing

3. Operating and Cash outflow: Purchase of rent in advance.

4. Operating and Cash inflow: Collection of an account receivable.

5. Financing and Cash inflow: Issuance of common stock.

6. Operating and Cash outflow: Purchase of inventory

7. Investing and Cash inflow: Collection of notes receivable.

8. Operating and Cash outflow: Payment of income taxes.

9. Noncash activity, so no effect: Sale of equipment for a note receivable.

10. Financing and Cash inflow: Issuance of bonds.

11. Investing and Cash outflow: Loan to another firm.

12. Financing and Cash outflow: Payment of a long-term note payable.

13. Financing and Cash outflow: Purchase of treasury stock.

14. Operating and Cash outflow: Payment of an account payable.

15. Investing and Cash inflow: Sale of equipment for cash.

Explanation:

A statement of cash flow is a financial statement that gives the aggregate cash inflow and cash outflow in an organization during an accounting period. The three categories of statement of cash flows are investing activities, financing activities, and operating activities.

1. Investing activities are essentially the cash activities with respect to non-current assets such as sale of equipment for cash.

2. Financing activities refers to cash activities with respect to owners’ equity and non-current liabilities such as purchase of treasury stock.

3. Operating activities are mainly the cash activities with respect to net income such as payment of employee salaries.

8 0
2 years ago
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