Answer:
Predetermined manufacturing overhead rate= $33.1 per direct labor hour
Explanation:
Giving the following information:
Salary of factory supervisor $37,800
Heating and lighting costs for factory $22,900
Depreciation on factory equipment $5500
The company estimates that 2000 direct labor hours will be worked in the upcoming year.
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (37,800 + 22,900 + 5,500) / 2,000
Predetermined manufacturing overhead rate= $33.1 per direct labor hour
Answer:
Dr Raw materials $93,000
Cr Accounts payable $93,000
Explanation:
Based on the information given we were told that during the month, the corporation had to purchased an additional raw materials of the amount of $93,000 which means that the journal entry to record the purchase of raw materials would include a:
Dr Raw materials $93,000
Cr Accounts payable $93,000
(To record purchase of raw materials)
Answer and Explanation:
The disagreement arise between this economist is due to the differences in the scientific judgements as they disagree due to the various scientific judgements. And, despite their differences, the proposition of two economists should be chosen at random as the tariff and import quotas normally decreased the economic welfare as it always result in deadweight loss and in this both economist should be agree for the same
Answer:
TRUE
Explanation:
Adam Smith 'Laissez Faire' Theory implies : Markets as free mechanisms are best, they are guided by self interest which tends to bring best socio economic welfare by increasing wealth. The market 'Invisible Hand' acts as an automatic stabiliser to any economic discrepancy & any government intervention is unnecessarily distortionary.
Answer: B
Explanation: Are linked globally in ways that transcend national political boundaries
