First of all, the predetermined overhead will be calculated.
Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hour
Predetermined overhead rate = $ 258,000 ÷ 15,000 hours = $ 17.20 per direct labor hour
Actual manufacturing overheads = $ 253,000
Applied manufacturing overheads = Predetermined overhead rate × Actual direct labor hours
Applied manufacturing overheads = $ 17.20 × 13,100 = 225,320
Applied manufacturing overheads are less than actual manufacturing overheads, thus overheads are under applied.
Actual manufacturing overheads - Applied manufacturing overheads = $ 27,680 under applied
Answer:
Top level managers
Middle level managers
First level mangers
Explanation:
Management involves the process of planning, organizing, directing and controlling. These functions are carried out by the top level managers, middle level managers and first level managers.
Top level managers are those in charged of setting the long term goal of a company, they are basically the board of directors of a company.
The middle managers are the engine of a company, they push the line managers to work and supervices their work.
The first level managers are also known as floor managers, they oil the engine of the company.
Improperly capitalizing a repair and maintenance expense item as a fixed asset will result in an <u>overstatement of profit in the current year and an understatement in future years</u>.
Fixed assets seek advice from long-term tangible assets which can be used inside the operations of an enterprise. They offer long-term monetary advantages, have a useful existence of a couple of yr, and are labeled as assets, plants, and equipment on the balance sheet.
Fixed assets, additionally called lengthy-lived assets or property, plant, and the system is a term utilized in accounting for assets and belongings that can't effortlessly be transformed into cash. Fixed assets are unique from the contemporary property, which includes coins or bank accounts because the latter are liquid property.
Fixed assets are capitalized. It really is due to the fact the advantage of the asset extends past the year of buy, not like different costs, which might be length expenses benefitting handiest the duration incurred. constant assets should be recorded at a price of the acquisition
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Answer:
$575.82.
Explanation:
Since Thomas owes $ 438 on his credit card, but only paid the minimum of $ 20, his debt is now $ 418 (438 - 20). A late fee of $ 39 will be added to this value, which will raise said sum to $ 457 (418 + 39). In turn, the interest rate for unpaid card balances is 26% per month. Therefore, next month his balance will be $ 575.82 (457 x 1.26).
Answer: Answer is 1
Explanation:
In a market economy, a high price is a signal for producers to supply more and consumers to buy less.
