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3 years ago

Harmon recently quit his job that he had worked at for the past 10 years in

Business

1 answer:

Leviafan [203]3 years ago

5 0

Answer:

d. Harmon only needs to show the bank his record of income from

his old job, not his new business.

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Before prorating the manufacturing overhead costs at the end of 2020, the Cost of Goods Sold and Finished Goods Inventory accoun

stiks02 [169]

Answer:

COGS will decrease by 2,597 dollars as will decrease by the proration of the factory overhead

Explanation:

we do cross mutiplication to solve for the COGS and FG based on actual overhead

applied actual

COGS 57,500 54,903 *A

FG 20,000 19,067 *B

Total 77, 500 74,000

*A) 57,500 x 74,000/77,500 = 54,903

*B) 20,000 x 74,000/77,500 = 19,097

Decrease in COGS 57,500 - 54,903 = 2,597

3 0

2 years ago

True Blue Corporation provided the data set forth above from its activity-based costing system.

Sidana [21]

Answer:

Unitary cost= $765.38

Explanation:

Giving the following information:

The company makes 430 units of product D28K a year, requiring a total of 690 machine-hours, 40 orders, and 10 inspection-hours per year.

The product's direct materials cost is $35.82 per unit and its direct labor cost is $29.56 per unit.

Unitary cost= direct material + direct labor + allocated overhead

We don't have enough information to allocate overhead.

Assuming the overhead gets allocated based on machine hours, I will invent an overhead rate and cost to allocate.

Estimated overhead= 300,000

Machine hours= 690

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 300,000/690= $434.78 per machine hour

A unit uses:

690/430= 1.61 machine hours

Unitary cost= direct material + direct labor + allocated overhead

Unitary cost= 35.82 + 29.56 + (1.61*434.78)= $765.38

8 0

2 years ago

Classify each type of income as earned or unearned: gifts

mars1129 [50]

Gifts would be classified as an unearned source of income

4 0

2 years ago

Which feature prevents a company from uilizing the private assets of its shareholders for the payment of its leabiities?

-Dominant- [34]

Answer: Limited Liability

Explanation: Business owners' liability for debts is restricted to the amount they put into the business.

3 0

3 years ago

An investor in a T-bill earns interest by _________. receiving interest payments every 90 days receiving dividend payments every

pashok25 [27]

Answer:

buying the bill at a discount from the face value to be received at maturity.

Explanation:

Treasury bills also referred to as T-bills are short term financial instruments. T-bills are issued at a discount from the face value or par value of the bill. Therefore, a T-bill which has a face value of $2000 may have a purchase price of $1,500. The investor will buy the T-bill for $1,500 and upon maturity of the instrument, the investor will receive $2000. The difference between the purchase price of $1,500 and the amount received at maturity of $2000 is interest earned by the investor.

4 0

2 years ago