Answer:
Please see explanation
Explanation:
1. Machine hours used by Krazy Kayak are given as follows
Machine hours=Actual manufacturing overhead costs/cost per hour
=$428,000/41
=10,439 hours
2.Manufacturing overheads are underapplied because the actual overhead cost amounting to $428,000 is greater than applied overheads amounting to $405,900. The factory overheads are under applied by $22,100(428,000-405,900)
3. The journal entry to close out over or under allocated overhead are given as follows:
Debit Credit
Factory overheads applied $405,900.
Profit and loss account $22,100
Factory overheads Control $428,000
The open systems model of ob assumes that <u>organizations are self-sustaining</u>. and this is because the system believes that the supplies of energy cannot be depleted.
<h3>What is an Open System?</h3>
This refers to the type of system that has to do with assumed infinite amounts or supply of energy
Hence, we can see that The open systems model of ob assumes that <u>organizations are self-sustaining</u>. and this is because the system believes that the supplies of energy cannot be depleted.
Read more about open systems here:
brainly.com/question/11956233
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A price ceiling is the maximum price a company is allowed to charge for that good. This is intended to assist the consumers so that they would not have to be an insane amount for a product.
Answer:
Date Details Debit Credit
December 31, Employee benefits expense $41,150
Medical insurance payable $31,500
Employee Retirement program $9,650
payable
Working
= 31,500 + 9,650
= $41,150
Answer:
a. classifies expenses by function.
Explanation:
Multiple step format of income statement has the distinction of classifying expenses based on function as direct cost (non operational cost) and indirect cost ( operational cost).
Direct cost is cost that can be directly traced to the product like cost of raw materials.
Indirect cost is not directly linked to the product and includes salaries, rent, marketing cost, research and development, accounting fees, and legal fees.
Single step format on the other hand does not divide expenses based on function, but states the simplified revenue and expense of a business.
