1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BARSIC [14]
2 years ago
15

Price Manufacturing assigns overhead based on machine hours. The Milling Department logs 1,800 machine hours and Cutting Departm

ent shows 3,000 machine hours for the period. If the overhead rate is $5 per machine hour, the entry to assign overhead will show a:
Business
1 answer:
kifflom [539]2 years ago
5 0

Answer and Explanation:

The Journal entry is shown below:-

Work in progress Dr, $24,000

        To Manufacturing Overhead $24,000

(Being the overhead assigned is recorded)

For recording this we debited the work in process as it increased the assets and credited the manufacturing overhead for assigning the overhead

Working note

Overhead amount = (Milling Department + Cutting department) × Overhead rate

= (1,800 + 3,000) × $5

= $4,800 × $5

= $24,000

You might be interested in
Cooper’s Brakes, Inc., enters into a contract with Byron’s Service to fix Cooper’s hydraulic equipment. Byron delays the repair
Dennis_Churaev [7]

Answer:

The answer is: Compensatory damages

Explanation:

Compensatory damages refers to money awarded to a plaintiff in a civil case (in this case Cooper's Brakes) to compensate for incurred losses (or injuries, etc. in other cases). The plaintiff has to prove that the losses he suffered were caused by negligence or unlawful conduct of the defendant (Byron's Service). The plaintiff has to be able to quantify (in monetary terms) the damages it suffered.

4 0
3 years ago
Presented below are two independent situations: A) Sandhill Inc. acquired 10% of the 420,000 shares of common stock of Schuberge
Vilka [71]

Answer:

The journal entries for both corporations is prepared below

A)

Date: June 17

Accounts title and Explanations: Stock investment, dr. (420,000*$15*10%) 630,000

Accounts title and Explanations: Cash, Cr. 630,000

____________________________

Date: Sept 3.

Accounts title and Explanations: Cash, dr. (120,000*10%) 12,000

Accounts title and Explanations: Dividend revenue, Cr. 12,000

______________________________

Date: Dec 31.

Accounts title and Explanations: Stock investments, dr. (520,000*10%) 52,000

Accounts title and Explanations: Investment revenue, Cr. 52,000

____________________________

B)

Date: Jan 1

Accounts title and Explanations: Stock investment, dr. (120,000*$18*30%) 648,000

Accounts title and Explanations: Cash, Cr. 648,000

____________________________

Date: May 15

Accounts title and Explanations: Cash, dr. (120,000*30%) 36,000

Accounts title and Explanations: Dividend revenue, Cr. 36,000

______________________________

Date: Dec 31.

Accounts title and Explanations: Stock investments, dr. (220,000*30%) 66,000

Accounts title and Explanations: Investment revenue, Cr. 66,000

____________________________

7 0
2 years ago
If you started your own company selling iphone applications, what organizational structure would you create? why?
Sladkaya [172]

I will create a combination of functional and project-based organizational structures.  I have selected the combination due to the following rationale.

  1. There are different types and categories of iPhone applications. So, the development of each application is a project. Accordingly, competent professionals will be used and they will move from one project to another project.
  2. Selling of applications as well as taking care of HR operational aspects of the business will require people with expertise in these functional areas also. So, getting good sales as well as HR retention is the top priority for the business.
  3. A combination of these two structures will create a mix of back end and front end without any departmental inclination. So, the company will succeed.

Opting for other structures will either focus on applications or sales. But, it will be ineffective as sales will not happen without applications and applications alone cannot generate good sales without proper marketing.

Besides, there can be role confusion and conflict of interest with other organizational structure such as line only or staff only structures. Even, the selection of project-only or functional-only organizational structures will create problems and employee turnover will also increase.

Learn more about business here: brainly.com/question/24448358

#SPJ4

8 0
2 years ago
When does a corporation record an increase in Dividends Payable?
Gnoma [55]

Answer:

B. On the declaration date

Explanation:

Dividend payable are usually advised by management but must be ratified by the shareholders (usually in the annual general meeting) for such to be come recognizable in the books. The date of ratification is the declaration date

As such a corporation record an increase in Dividends Payable on the declaration date.

The right option is B. On the declaration date

4 0
3 years ago
Why does a country need good constitution ​
Sergeu [11.5K]

Answer:

<em>The Constitution contains the most important rules of our political system. It protects the rights of the people inside the country, and it explains their obligations. </em>

hope it helps u

and ur welcm

:)

8 0
3 years ago
Other questions:
  • New technology lowering the costs of production will cause the equilibrium price to ______________ and the equilibrium quantity
    6·2 answers
  • Financial statement data at December 31 for Ecco Company are shown below. Cost of merchandise sold $552,500 Inventories: Beginni
    11·1 answer
  • Which part of the final report examines in detail the underlying causes of problems, issues, and successes relative to the proje
    13·1 answer
  • Is it possible for a country with a regressive tax system to have a tax-spending system that transfers resources from the rich t
    11·1 answer
  • Are outstanding credit card balances counted as part of the money supply?
    7·1 answer
  • Auto insurance is needed primarily because of __________. (points : 2)
    11·1 answer
  • Select the answer that best describes what happens when shareholders receive a series of distributions, not part of an installme
    14·1 answer
  • purchased equipment, a building, and land for one price of $6,050,500. The estimated fair values of the equipment, building, and
    15·1 answer
  • PlZ HELP!!!
    9·2 answers
  • Hey everyone please let my friends answer please?!?...???
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!