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zhenek [66]
2 years ago
13

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies m

anufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $592,000 of total manufacturing overhead for an estimated activity level of 74,000 machine-hours. During the year, a large quantity of furniture on the market resulted in cutting back production and a buildup of furniture in the company's warehouse. The company's cost records revealed the following actual cost and operating data for the year Machine-hours Manufacturing overhead cost Inventories at year-end: 67,000 $551,000 Raw materials Work in process (includes overhead applied of $37,520) Finished goods (includes overhead applied of $101,840) $ 13,000 $ 139,300 $ 378,100 s 1,472,600 Cost of goods sold (includes overhead applied of $396, 640) Required 1. Compute the underapplied or overapplied overhead. 2. Assume that the company closes any underapplied or overapplied overhead to Cost of Goods Sold. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 3. Assume that the company allocates any underapplied or over appliedoverhead proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the appropriate journal entry. (If no entry is required for a
Business
1 answer:
inessss [21]2 years ago
7 0
So uh what exactly do you need help with?
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Pure Project!! i might be wrong :)
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vivado [14]

Answer:

A. True

Explanation:

For accepting the payment by credit card or by debit card, the online merchant i.e online seller by whom the individual buys the products online.

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3 years ago
Match the following terms to their definitions: 1. privatization 2. restructuring 3. agent 4. leveraged buyouts 5. underpricing
RUDIKE [14]

Answer:

1) UNDERWRITE involves the act of taking on any risk that might be related with the issue of a new security.

2. BEST EFFORTS is the responsibility of sharing a security without transferring the risk associated with the new issue from the company to the investors.

3. UNDERWRITING SYNDICATE involves a group of investors formed to share the risk of a security offering.

4.UNDER PRICING is the process of setting the price of a new security slightly below the market value to ensure a receptive sale.

5. AFTERMARKET is a secondary market where securities are traded after its initial offering to the public.

6.AGENT is one who sells or places an asset for another party.

7. SHELF REGISTRATION permits large companies to file one comprehensive statement with the Securities and Exchange Commission (SEC) outlining their financial plans for the next two years.

8. LEVERAGE BUYOUT occurs when either management or another investment group borrows the needed cash to rebuy all traded shares from the shareholders.

9. RESTRUCTURING involves the divisions and products are sold and assets redeployed into better yielding areas.

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8 0
3 years ago
Research and development costs should be: A. Expensed in the period incurred. B. Expensed in the period they are determined to b
Vladimir79 [104]

Answer:

The correct answer is letter "A": Expensed in the period incurred.

Explanation:

Research and Development (R&D) costs are spent on the development of new products that could or could not end up being commercially offered. These kinds of costs are usually expensed at the same time they are incurred. According to the U.S. Statement of Financial Accounting Standards, the R&D costs cannot be capitalized.

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2 years ago
A creditor must ensure that the consumer receives the revised Loan Estimate no later than four business days prior to:________.
zhuklara [117]

Answer:

Consummation

Explanation:

A creditor must ensure that the consumer receives the revised Loan Estimate no later than four business days prior to consummation.

5 0
3 years ago
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