List three services provided by a travel agent that benefit a business person who travels overseas frequently?
Familiarity with preferences for departure and return, seating is desirable and reliable
Answer:
$1,000
Explanation:
For the computation of overhead over/under applied last year first we need to find out the applied overhead which is shown below:-
Applied overhead = Actual direct labor × Per direct labor
= 24,000 × $2
= $48,000
Over applied overhead = Applied overhead - Actual overhead
= $48,000 - $47,000
= $1,000
Therefore for computing the overhead over/under applied last year we simply applied the above formula.
Currency that derives its value from the amount printed on it is known as fiat money.
<h3>What is fiat money?
</h3>
Fiat money is currency whose value is not backed up by any asset. The value of fiat money is dependent on the amount printed on it. This differs from representative money whose value depends on the value of the metal from which it is made from.
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