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oksano4ka [1.4K]
3 years ago
12

LO 4.6Why is the manufacturing overhead account debited as expenses are recognized and then credited when overhead is applied?

Business
1 answer:
Klio2033 [76]3 years ago
7 0

Answer:

Explanation:

Manufacturing overhead records all the expenses like salaries payable which come under indirect labor. Manufacturing overhead includes all those indirect costs which are related to the factory-like - factory rent, factory repairs, depreciation on factory equipment, property taxes

For recognized expense, the journal entry would be

Factory overhead A.c Dr

        To Expenses A/c  

(Being expense recognized)

Since the cost is actually incurred so this above entry should be made

And, the journal entry for applied overhead is shown below

Work in progress inventory A/c Dr XXXXX

      To Factory overhead A/c XXXXX

(Being overhead applied is recorded)

Since applied overhead is based on predetermined overhead rate so we credit the factory overhead and debit the work in progress inventory

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Most child care providers will never find themselves caring for a child with asthma.
madam [21]

The correct answer is False

Explanation:

Child care providers are usually professionally prepared individuals who take care of children, this includes teachers, babysitters, nannies, counselors, etc. Additionally, child care providers can work in specific institutions such as schools or take care and supervise children in the child's home. In most cases, being a child care provider implies dealing with different children and therefore different personalities, needs, and conditions.

Due to this, it is common child care provides find themselves caring for a child with conditions such as measles, food allergies, bronchitis, and even asthma. In the case of asthma, this is can be found in around 10% of children, and therefore it is not extremely uncommon child care providers had to take care of a child with asthma.

4 0
3 years ago
Suppose a bank has $600 million in deposits and $30 million in required reserves, and it is holding no excess reserves. What is
Kruka [31]

Answer:

5%

Explanation:

Deposit= $600 million

Required reserve= $30 million

Required reserve ratio= required Reserve/deposit

= 30 million/600 million

= 0.05×100

= 5%

Hence the required reserve ratio is 5%

7 0
3 years ago
Benefits of having a strong brand image
Morgarella [4.7K]

Answer:

benefits of building and maintaining a strong brand are endless: customer recognition, word-of-mouth marketing, customer loyalty, enhanced credibility, and ease of purchase, to name a few. Your brand is one of your company's most valuable assets.

8 0
3 years ago
You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your col
maw [93]

Solution :

Risk management first involves the identification of the potential risk that may be involved. It should focus both on the objectives as well as events that could cause the consequences.

Some of the major risks that can be involved are :

• sudden weather conditions which may not support the flight travel.

• Embargo on fishing by the State or local authority suddenly

• any kind of physical injury to the members of the group

• there may be forest fire around the lake

• technical error that might occur during the course of adventures

The impact for the risk that includes the majuere risk will be very high for all the parameters that can increase the cost by 40%, it can also lead to increase in time by about 20% which can cancel the expedition. . These types of risk will not be covered under any scope.

For the physical risk, the impact will be moderate for the parameters.

                            Risk Response Matrix

Risk         Response        Contigency plan         Trigger     Who is responsible

Force        Mitigate      Choosing another      Situation is               Nils

Majuere                        destination as a back  not clear in

                                        up.                               24 hours.

Physical   Mitigate      Proper training and     After observing       Eddie

injury                           safety kits                     the participants

7 0
2 years ago
Discuss the Sarbanes-Oxley Act 2002 and how it helps curb accounting fraud.
Soloha48 [4]

The Sarbanes-Oxley Act of 2002 was used to curb accounting fraud by improving financial disclosure of corporations, and checking and fixing frauds if they were found.

hope this helps

4 0
3 years ago
Read 2 more answers
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