Answer:
Predetermined overhead rate=$19.5/machine hour
The company applied $877500 to the units produced.
Explanation:
a) Pre-determined overhead rate= <u>Budgeted overhead manufacturing cost</u>
Estimated number of machine hours
=975000/50000=$19.5/machine hour.
b)Applied overhead = Pre-determined overhead rate * Actual machine hours
= 19.5 * 45000
=$877500.
c.
In traditional costing we use as base for calculating overhead rate is machine hours or labor hours but in activity based costing we identify activity that consume resources,identify cost driver of each activity,compute cost rate per cost driver unit and finally assign cost to products by multiplying cost driver rate.
Predetermined overhead rate= estimated overhead/Estimated base (cost driver).
One of the ways that rent control is inefficient is that it has high opportunity costs associated with wasted time for apartment seekers.
<h3>What is rent control?</h3>
This is the term that is used to explain the control that the government of a country has on landlords that lease their houses out to tenants.
It puts a limit on the amount of money that landlords of houses can collect as the rent for their houses.
Read more on rent control here:
brainly.com/question/1331723
Answer:
The correct answer is accrual of interest expense.
Explanation:
Interest expense is an expense you incur when you borrow money. The lender charges you a specific interest rate that is expressed in your loan document. As time passes, you are charged interest on the amount you borrowed. You may have to calculate the simple or compound interest on your loan depending on how it is structured. If the loan is for business, you will enter interest expenses in your accounting records.
Answer:
$35,000
Explanation:
According to accounting standard IFRS 16 Property, Plant and Equipment is initially recorded at its cost. Estimated market value and offer price will not be considered to record this transaction. Cost incurred for this equipment is as follow:
Cash payment = $15,000
Note payable = $20,000
Total Cost = $15,000 + $20,000 = $35,000
Answer:
Nexium & Associates Journal entries
March 1
Dr Accounts Receivable800
Cr Service Revenue 800
March 9
Dr Office Furniture1,060
Cr Office Supplies 160
Cr Accounts Payable1,220
March 15
Dr Accounts Payable1,220
Cr Cash1,220
March 23
Dr Electricity Expense430
Cr Accounts Payable430
March 31
Dr Salaries Expense850
Cr Cash850
Explanation:
The details given about Nexium & Associates are straight forward and required no further
adjustment.
