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Minchanka [31]
3 years ago
14

Fonda Motorcycle Shop sells motorcycles, ATVs, and other related supplies and accessories. During the taking of its physical inv

entory on December 31, 20Y8, Fonda Motorcycle Shop incorrectly counted its inventory as $337,500 instead of the correct amount of $328,850. a. State the effect of the error on the December 31, 20Y8, balance sheet of Fonda Motorcycle Shop. b. State the effect of the error on the income statement of Fonda Motorcycle Shop for the year ended December 31, 20Y8. c. If uncorrected, what would be the effect of the error on the 20Y9 income statement
Business
1 answer:
saul85 [17]3 years ago
4 0

Answer:

See attached file

Explanation:

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For a product that has a large economic value, a firm can choose to charge the same price as competitors in order to ______. Mul
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In order to <u>gain market share</u><u>,</u> some a firm whose product that has a large economic value do decides to charge the same price as competitors.

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5 0
2 years ago
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<u>Here is the full question:</u>

Ravi, Kara, Mark, you

Ravi (Sr. Team Member)

Welcome to the team! We are testing new product features for Project Excite. Kara

is our project expert, but she is very busy with an unrelated launch.

Kara (Sr. Team Member)

Nice to meet you! You will own the project management of a new experimental

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Hi! I've been on Project Excite for 2 months and feel like I am just getting up to

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3 0
2 years ago
The manufacturing overhead budget of Inch Corporation is based on budgeted direct labor-hours. The September direct labor budget
Lubov Fominskaja [6]

Answer:

$70,840; $18.50

Explanation:

Variable manufacturing overhead:

=  Budgeted direct labor-hours ×  Variable overhead rate

= 4,400 × $5

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Total manufacturing overhead:

= Variable manufacturing overhead + Fixed manufacturing overhead

= $22,000 + $59,400

= $81,400

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(b) Predetermined overhead rate for September:

= Total manufacturing overhead ÷ Budgeted direct labor-hours

= $81,400 ÷ 4,400

= $18.50

7 0
3 years ago
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