Answer:
See below
Explanation:
1. Plant wide overhead rate
= Total manufacturing overhead / Estimated cost allocation base
= $1,100,000/27,500
= $40
2. Compute department overhead rates
= Total department overhead / Estimated cost allocation base
Machining department
= $740,000/14,800
= $50 per MH
Fishing department
= $360,000/18,000
= $20 per DL
Answer:
b. Dec. 31
Income Summary 925
Fees Earned 750
Rent Revenue 175
Explanation:
At the end of each accounting period, the elements of the income statements which are the revenues earned and the expenses incurred are usually closed to the income summary account.
The revenue earned which is normally a credit balance is closed by debiting the account and crediting the income summary. The expenses are closed by crediting the account and debiting the income summary.
Hence if Fees Earned, $750, and Rent Revenue, $175,
Total revenue = $750 + $175
= $925
January and February are the 2 worst months to make a large profit by selling french fries. The most sold are during September and November. These months are much warmer than January and February.
something that is present but no longer used by an organism such as a tailbone or appendix in humans
The government may wish to regulate monopolies to protect the interests of consumers. For example, monopolies have the market power to set prices higher than in competitive markets. The government can regulate monopolies through price capping, yardstick competition and preventing the growth of monopoly power.
