The amount of applied overhead is $1,000.
<h3>
What is inventory?</h3>
- The products and materials that a company keeps on hand with the intention of reselling, producing, or using them are referred to as inventory or stock.
- The main focus of inventory management is determining the location and shape of stocked commodities.
<h3>What is material cost?</h3>
- The price of direct materials is directly related to the unit of production and is immediately identifiable.
- For instance, the price of glass is a direct material expense in the production of light bulbs.
- The primary component needed for the production of commodities or products was material.
<h3>Solution -</h3>
To find the amount applied overhead:
3200 - ( 1400 + 800 ) = 3200 - 2200
= $1,000
Therefore, the amount of applied overhead is $1,000.
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Answer:
A triple indemnity rider establishes that the insurance company will pay double or triple (depends on the accident and the specifics of the policy) the original insurance amount in case the insured dies from an accident as long as the insured was not responsible for the accident. In this case, since the insured was responsible for causing the accident, his family will receive the face value of the policy ($1,000,000) and the triple indemnity rider clause will not be enforced.
Answer: E) debit Contributed Capital, Treasury Stock, $1,800
Explanation:
Treasury stock was bought at price of;
= 22,000/1,000
= $22
Sold 600 for $25 so they made a profit of;
= (25 - 22) * 600
= $1,800
This gain was sent to Contributed Capital, Treasury Stock.
Now that stock is to be sold on March 1, it is sold at $15. Loss from initial purchase is;
= ( 22 - 15) * 400
= $2,800
Debit Contributed Capital, Treasury Stock of the maximum amount it can be debited of to reflect this loss which would be $1,800 which was gained in the February purchase. The rest of the loss will go to Retained earnings.
Answer: in business a jobber is a manufacturer, tradesman, or wholesaler who deals in small lots of goods or 'jobs,' or acts as an agent, middleman (intermediary), or a sub-contractor, and usually does not deal directly with the principal customer.
Explanation: a jobber is also an informal name for a broker or someone that negotiates with shares or stocks.
Answer:
Explanation:
No matter what the future holds, an economics major helps people succeed. Understanding how decisions are made, how markets work, how rules affect outcomes, and how economic forces drive social systems will equip people to make better decisions and solve more problems. This translates to success in work and in life.
