All categories

3 years ago

TP4.

Business

1 answer:

timofeeve [1]3 years ago

7 0

Answer:

There would be no under-applied or over-applied overhead since the overhead applied will be equal to budgeted overhead.

Explanation:

Overhead application rate is the ratio of budgeted overhead to budgeted activity level. Overhead applied is overhead application rate multiplied by actual activity level. Under/over-applied overhead is the difference between overhead applied and budgeted overhead.

You might be interested in

Ginger works for an organization that requires employees to engage in a variety of socially responsible projects as part of the

zvonat [6]

<span>In order to continue participating in these projects and improve job satisfaction, the organization may choose to provide compensation for these projects. If the organization does not wish to pay employees extra, they could plan these projects to occur during working hours, so employees are still on the clock and getting paid.</span>

3 0

3 years ago

Suppose that the balance of a company's Allowance for Uncollectible Accounts was $6,200 (credit) at the end of 2015, prior to an

Margaret [11]

Answer:

bad debt expense 38,100

Explanation:

We will adjust the allowance to match the estimated incollectible accounts, this adjustment will done against the bad debt expense account which, will be disclusure on the income statement.

allowance for uncollectble accounts 44,300

current balance (6,200)

adjustment for allowance 38,100

<u>Then, the company will do the adjusting entry:</u>

bad debt expense 38,100 debit

allowance for uncollectible account 38,100 credit

This will be the bad dent expense in the income statement.

7 0

4 years ago

Consider a family that has one working parent, a stay‐at‐home parent, and three children. Two of the children are in elementary

zheka24 [161]

1. The family's total assets = $148,700.

2. The family's total liabilities = $155,500.

3. The family's net worth is ($6,800), which is $148,700 - $155,500.

<h3>What is the family's net worth?</h3>

The family's net worth is the excess of its total assets minus its total liabilities.

The net worth can be <u>positiv</u>e or <u>negative</u>. It is <u>negativ</u>e when the total liabilities exceed the total assets.

<h3>Data and Calculations:</h3>

Assets Liabilities

House on mortgage $89,000 $80,000

Car on auto loan 15,000 15,000

Minivan on auto loan 20,000 16,000

Furnishings 5,000 4,500

Retirement account 15,000

Emergency savings 1,500

Savings 1,000

Checking account 500

CD 1,500

Cash 200

Credit cards 15,000

School loan 25,000

Total $148,700 $155,500

4. Thus, the expenses that would not fall on the balance sheet are:

Payment for school loans of $500 per month
Pre-Kindergarten tuition of $350 per month
Payment for soccer teams of $100 per month.

Learn more about computing net worth at brainly.com/question/12371230

#SPJ1

3 0

3 years ago

A firm reported salary expense of $239,000 for the current year. The beginning and ending balances in salaries payable were $40,

Alborosie

Answer:

C. $264,000

Explanation:

The computation of the amount of cash paid for salaries is shown below

= Opening balance of salaries payable + salary expense - closing balance of salaries payable

= $40,000 + $239,000 - $15,000

= $264,000

Hence, the amount of cash paid for salaries is $264,000

Therefore the correct option is c.

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0

3 years ago

Polly borrowed $285 for a new floor lamp. She will make 5 monthly payments of $62 to repay the loan. How much will she pay in

Serjik [45]

She will pay 25.00 I. Interest

7 0

4 years ago