Answer:
See below
Explanation:
With regards to the above, the predetermined overhead rate is computed below.
Predetermined overhead rate = Estimated factory overhead cost / Estimated direct labor hours
Given that;
Estimated factory overhead cost = $341,900
Estimated direct labor hours = 48,900
Therefore,
Predetermined overhead rate per direct labor hour
= $341,000 / 48,900
= $6.97 per direct labor hour
For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home equity indebtedness incurred during a year: Is limited to $100,000 on a joint income tax return.
Explanation:
The debt of household property is entitled to a joint return of $100,000. Home equity debt is any mortgage not obtained by a qualifying property.
The reasonable market value of the home shall not be greater than that of the purchase loan or the lesser amount of $100,000.
The debt to purchase, create, and substantially improve a qualifying residence is the debt owed in the purchasing, construction and securing of such house (a 1 million dollars limited).
The certain value on debt that outperforms these limits can not be subtracted.
Answer:
True
Explanation:
Personal financial planning: It is the financial planning which is done for the family or at individuals level. It includes all the things which are important in life such as education, employment, housing, transportation, lifestyle, medical insurance, health insurance etc.
The main aim to do personal financial planning is to secure their future so that they don't face any major problem in nearby the future.
Hence, the given statement is true.
First-in, first-out (FIFO) -inventory costing method assigns to ending merchandise inventory the newestthe most recentcosts incurred during the period
First-in, first-out (FIFO) within the FIFO method, items purchased first could be sold first. as a result, the inventory is valued at the contemporary value of the products purchased.
The finishing stock fee derived from the FIFO method suggests the contemporary value of the product based totally on the most recent item purchased. This technique of calculating ending inventory is shaped by the belief that agencies promote their oldest gadgets first to hold the most modern items in stock.
Last in, first out (LIFO) is any other inventory costing method a company can use to price the price of goods sold. This approach is the alternative of FIFO. in preference to promoting its oldest inventory first, agencies that use the LIFO method sell their most modern stock first.
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