Answer:
If we made the switch, our OH rate would be closest to: $30.40 per MH
Explanation:
Overhead Rate is used to allocate manufacturing overheads (indirect costs) to jobs and departments.
In our senario Overhead rate are used to allocate fixed manufacturing overheads to production of lenses for satellite cameras.
Overhead Rate = Budgeted Overheads / Budgeted Activity
= $760,000/ 25,000
= $30.40 per practical equipment machine hour
Answer:
CM ratio= 0.429= 42.9%
Explanation:
Giving the following information:
Sales= 22,400
Variable Expenses= 12,800
Contribution Margin= 9,600
To calculate the contribution margin ratio we need to use the following formula:
CM ratio= (total sales - total variable cost) / total sales
CM ratio= (22,400 - 12,800) / 22,400
CM ratio= 0.429= 42.9%
Answer:
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Explanation:
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Answer: $35,000
Explanation:
Retained Earnings refers to the Net Income that the business keeps after it pays out a portion of it to Shareholders as dividends.
Closing Balance on Retained Earnings = Opening Balance + Net Income - Dividends
Net income = Revenue - Expenses
= 40,000 - 25,000
= $15,000
Closing Balance on Retained Earnings = 29,000 + 15,000 - 9,000
= $35,000
Answer: Account and Settings > Advanced > Automation
Explanation:
The options are:
a. Account and Settings > Sales > Products and Services
b. Account and Settings > Expenses > Messages
c. Account and Settings > Advanced > Automation
d. Account and Settings > Advanced > Accounting
For a QuickBooks Online user to be able to apply a Credit Memo transaction automatically to the invoice of a customer, it should be noted that one can turn the apply credits checkbox automatically in Account and setting > advanced> automation.
One should first click on Account and settings, after which the Advanced tab will be clicked on. Then, one will select automation. Finally, one will click on apply credits automatically.