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3 years ago

Journalize the entries to record the following.

Business

1 answer:

vredina [299]3 years ago

4 0

Answer:

Explanation:

The journal entries are shown below:

1. Petty cash A/c $1,100

To Cash A/c $1, 100

(Being the petty cash fund is established)

2. Office supplies A/c Dr $614

Miscellaneous selling expense A/c Dr $200

Miscellaneous administrative expense A/c Dr $145

Cash short and over A/c $26

To Petty cash A/c $985

(Being the expenses are recorded)

The Cash short and over is computed below:

= $1,100 - $115- $614 - $200 - $145

= $26

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Johansen Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The

soldier1979 [14.2K]

Answer:

A) $2.50 per direct labor-hour

Explanation:

The computation of the predetermined overhead rate is shown below:

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

where,

Estimated manufacturing overhead = Rent on factory building + Depreciation on factory equipment + Indirect labor + Production Supervisor's salary

= $15,000 + $8,000 + $12,000 + $15,000

= $50,000

And, the estimated direct labor hours is 20,000

So, the rate is

= $50,000 ÷ 20,000

= $2.5 per direct labor-hour

8 0

3 years ago

In the Keynesian-cross model, fiscal policy has a multiplied effect on income because fiscal policy: changes income, which chang

Zepler [3.9K]

Answer:

Changes income, which changes consumption, which further changes income

Explanation:

Fiscal policy is an effective technique to control savings, income and consumptions because of its multiplier effect. The first effect of fiscal policy is that it changes income and that change in income leads to a change in consumption because of purchasing power; likewise, due to the change in consumption income changes. So, fiscal policy has a multiplier effect.

5 0

3 years ago

A delivery truck costing $25,000 is expected to have a $1,500 salvage value at the end of its useful life of four years or 125,0

Helga [31]

Answer:

Depreciation expense year 2 Straight line = $5875

Depreciation expense year 2 Double declining = $6250

Depreciation expense year 2 units of activity = $5264

Explanation:

Straight line method is a depreciation method that charges a constant depreciation expense through out the useful life of the asset. Straight line depreciation per year is,

Straight line depreciation = (Cost - Salvage value) / Estimated useful life

Straight line depreciation = (25000 - 1500) / 4 = $5875 per year

Straight line rate = 100% / 4 = 25%

Double declining balance is an accelerated method of depreciation that charges more depreciation in the initial years and less in later years. Double declining balance depreciation is calculated as follows,

Depreciation expense = 2 * Straight line rate * Book value at start of the period

Depreciation expense year 1 = 2 * 0.25 * 25000 = $12500

Book value at start of year 2 = 25000 - 12500 = $12500

Depreciation year 2 = 2 * 0.25 * 12500 = $6250

The units of production method charges depreciation based on the activity for which asset is used as a proportion of the estimated useful life in terms of activity.

Depreciation expense year 2 = (28000 / 125000) * (25000 - 1500)

Depreciation expense year 2 = $5264

7 0

2 years ago

Which of the following statements summarizes why the window of vulnerability is shrinking? People are getting better at enduring

Firdavs [7]

Answer:

More people are interested in information security, and have developed the skills to find new vulnerabilities.

Explanation:

In the past, few people are interested in information security due to the fact that, it was a new field that was not exploited then. This create an ample opportunity for the windows vulnerability for hackers. Currently, due to increasing interest in information technology, the vulnerability of windows are shrinking.

7 0

3 years ago

he St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production w

OLga [1]

Answer:

$9000 (unfavorable).

Explanation:

Given: Budgeted fixed overhead= $360000.

Actual fixed overhead=$ 360000.

Actual production= 11,700 units.

The variable overhead rate was $3 per hour.

The standard hours for production were 5 hours per unit.

The fixed factory overhead volume variance is difference between actual production volume and budgeted production. It help in measuring the effecient use of fixed resources. It is termed as favourable if actual fixed overhead exceed the budgeted amount, however, it is unfavorable if the actual fixed overhead is less than budgeted amount.

Now, lets calculate the Actual fixed overhead cost.

Actual fixed overhead cost= $\textrm{actual fixed overhead}\times \frac{Actual\ production}{Budgeted\ production}$

∴ Actual fixed overhead cost= $\$ 360000\times \frac{11700}{12000} = \$ 351000.$

Actual fixed overhead cost= $351000.

Next calculating the fixed factory overhead volume variance.

The fixed factory overhead volume variance= $\textrm{Actual fixed overhead cost}-\textrm{budgeted fixed overhead}$

We know, Budgeted fixed overhead= $360000 and Actual fixed overhead cost= $351000

∴ The fixed factory overhead volume variance= $\$351000-\$360000= \$ 9000 (unfavorable)$

The fixed factory overhead volume variance= $9000 (unfavorable)

6 0

3 years ago