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3 years ago

PA11.

Business

1 answer:

Papessa [141]3 years ago

6 0

Answer:

(a) $4 per machine hour

(b) $104,000

Explanation:

(a) Predetermined overhead rate:

= Estimated overhead ÷ Machine hours

= $100,000 ÷ 25,000

= $4 per machine hour

(b) Overhead applied during the year:

= $4 per machine hour × 26,000

= $104,000

since overhead applied is greater than the actual overhead by [$104,000 - $102,000] $2,000.

The journal is as follows:

Manufacturing overhead A/c Dr. $2,000

To Cost of goods sold A/c $2,000

(Being the Overapplied overhead is recorded)

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B. What the impact on XYZ's accounting equation in Maywhen it recorded the transaction as a debit to consultant expense for $10,

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Answer:

The above entry would decrease stockholders' equity by $10,000 and increase the liabilities by $10,000.

Explanation:

Consultation expense is an expense and when the expense gets debited, it refers to expense being incurred which in turn decreases stockholders' equity. Accounts payable is a liability and crediting accounts payable increases the liability.

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3 years ago

Benton County includes an independent school district and two individually chartered towns within the County. Benton County’s Tr

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Answer:

In the Book of Benton County:

a. Debit Cash Account for $40,000,000; Credit Property Tax for $25,000,00; and Credit Tax Collection Custodial Fund for $15,000,000.

b. Debit Tax Collection custodial Fund Account for $15,000,000; Credit School District Account for $12,500,000; and Credit Towns Account for 2,500,000.

c. Debit School District Account for $12,500,000; Debit Towns Account for $2,500,000; and Credit Cash Account for $15,000,000.

In the Books of School Districts Accounts:

a. Debit Benton County Accounts for $12,500,000; and Credit Property Tax Account for $12,500,000.

b. Debit Cash Account for $12,500,000; and Credit Benton County Accounts for $12,500,000.

In the Books of Towns Accounts:

a. Debit Benton County Accounts for $2,500,000; and Credit Property Tax Account for $2,500,000.

b. Debit Cash Account for $2,500,000; and Credit Benton County Accounts for $2,500,000.

Explanation:

Note: See the attached excel for how the journal entries will look together with the explanation.

Download xlsx

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3 years ago

A company's defined benefit pension plan had a projected benefit obligation (PBO) of $ 390 comma 000 on January 1, Year 1. Du

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Answer:

$448,800

Explanation:

The computation of the ending balance of PBO is shown below:

Beginning balance of PBO $390,000

Add: Service cost $92,000

Add: Interest ($390,000 × 12%) $46,800

Less: Pension Benefit paid ($80,000)

Closing balance of PBO $448,800

We simply applied the above formula to find out the ending balance of PBO

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3 years ago

The structures, processes, and systems that develop, leverage, and transfer knowledge are called resource management.

Diano4ka-milaya [45]

Answer:

The correct answer is (B) False. It is called Knowledge management.

Explanation:

Knowledge implies recognizing all the structures and divisions of the organization, in order to seek improvement over time. In this sense, in their normal course, companies have a series of their own dynamics that are produced thanks to the interaction of their departments, which are improved, used and transferred in a way that allows the proper functioning of the organization as a whole.

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4 years ago

Consider Frank’s decision to go to college. If he goes to college, he will spend $21,000 on tuition, $11,000 on room and board,

slavikrds [6]

Consider Frank’s decision to go to college. Frank’s cost of going to college is $42,600.

What is the cost?

The term cost refers to the actual money are spend on the manufacturing of the product. The product are manufacture to spend on money are raw material, transportation, wages, salary, and other expenses add. The all expenses are add to identify the cost.

Frank was spend on money to $21,000 on tuition, $11,000 on room and board, $1,800 on books, 8800 to add the cost. The calculation was ($21,000 + $11,000 + $1,800 + $8800 ($16,000—$7,200) = 42,600. Frank’s cost of going to college is $42,600.

As a result, Frank’s cost of going to college is $42,600.

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1 year ago