1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
RUDIKE [14]
3 years ago
12

Baltimore Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is b

ased on total estimated overhead costs of $280,000 and direct labor hours of 25,000. During the month of February 2019, Job 2-1 incurred direct labor of 450 hours. Use this information to prepare the end of the month application General Journal entry (without explanation) of factory overhead for Job 2-1 for the month. If no entry is required then write "No Entry Required."
Business
1 answer:
natta225 [31]3 years ago
6 0

Answer:

WIP 5,040

Factory Overhead 5,040

Explanation:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

280,000/25,000 = 11.2 per labour hor

Job labour hors x rate = overhead applied

450 x 11.2 = 5,040

We will increase the work in process, because there is no information about the job being complete.

And we will use the factory overhead account to post the applied overhead

You might be interested in
Covenants represent:
gregori [183]

Answer:

the answer is D terms and conditions set forth in a lending agreement to reduce the probability of non-payment

Explanation:

covenants help lenders detect deteriorating loan quality.

8 0
3 years ago
The primary difference between variable costing and absorption costing is
IgorLugansk [536]

Answer:

The correct answer is letter "D": in absorption​ costing, fixed manufacturing overhead is a product cost.

Explanation:

Absorption costing or full costing includes all costs related to the production process like the fixed costs. Variable costing, on the other hand, only includes the variable costs from the production. Absorption costing incorporates allocating fixed overhead costs of each unit produced during a certain period.

4 0
3 years ago
Now that you have studied monopolistic competition, let's see how well you can distinguish a firm in a monopolistically competit
vlabodo [156]

Answer:

<u>Monopolistic Competition:</u>

4. a firm that faces a downward sloping demand curve.

<u>Perfect Competition:</u>

1. a firm that produces with excess capacity in

3. a firm that may earn in an economy profit or loss in the short run

5. a firm that that maximizes profits profit in the long by producing where MR = MC

<u>Both:</u>

2. a firm that has a firm that sets price greater than marginal cost.

Explanation:

7 0
3 years ago
When using ABC, costs can be gathered at different levels. These levels are all of the following except:_________.
Aleksandr [31]

Answer:

B. Journal entry-level

Explanation:

When using ABC, costs can be gathered at different levels. These levels are all of the following except "journal entry-level".

Therefore, costs can be gathered in Unit-level, Batch-level, Factory-level and even Product level.

Activity-Based Costing (ABC) is actually a costing method which tends to identify the activities that are carried out in organization and gives the costs of each activity to the products and services by what they actually consume.

3 0
3 years ago
How could the federal reserve encourage banks to lend out more of their reserves?
natta225 [31]
Had to look for the options and here is my answer.
How the Federal Reserve could persuade banks to lend out more of their reserves is by REDUCING THE DISCOUNT RATE. The Federal Reserve is known to be the central bank of the United States which regulates the financial activities of the nation and how this affects their economy. Hope this helps.
5 0
3 years ago
Other questions:
  • The annual report for Sneer Corporation disclosed that the company declared and paid preferred dividends in the amount of $100,0
    6·1 answer
  • Which of the following statements about the U.S. housing industry is accurate?
    7·1 answer
  • Adapting your message to the task and audience requires empathy, which means putting yourself in the other person’s shoes. Emp
    8·1 answer
  • "A potential client is 81 years old and has asked his representative for recommendations of speculative "Dot Com" stocks. The cu
    9·1 answer
  • "many business professions use the skill of​ __________ in order to work together and complete complex tasks."
    14·1 answer
  • What is innovation? (Media Literacy)
    7·1 answer
  • 100 free hope you do the same
    11·1 answer
  • Suppose you want to be elected as a mayor in your locality. Prepare a written speech for presenting it before your voters in 250
    8·1 answer
  • On January 1, the Matthews Band pays $69,000 for sound equipment. The band estimates it will use this equipment for five years a
    12·1 answer
  • A share of stock with a beta of 0. 75 currently sells for $50. Investors expect the stock to pay a year-end dividend of $2. The
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!