Answer: $27,333
Explanation:
Data:
Amount earned = $25,000
Amount received = $12,000
Using accrual method of accounting, income and expenses are recognized as it is being made or earned irrespective of the amount of cash paid or received.
Fair market value = payment received * 7/36
= $12,000 * 7/ 36
= $2333.333
Chaya reported income = amount earned + fair market value
= $25,000 + $2333.333
= $27,333.
Answer:
Results are below.
Explanation:
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 405,000 / 220,000
Predetermined manufacturing overhead rate= $1.841 per DLH
<u>Now, we can allocate overhead:</u>
<u></u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 1.841*202,000
Allocated MOH= $371,882
<u>Finally, the over/under allocation:</u>
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 380,000 - 371,882
Underapplied overhead= $8,118
Answer:
Net Income $ 495,000
Explanation:
The net income represent the amount that would be left after all expenses have been deducted from all the sales revenue.
$
Sales revenue 4,597,000
Cost of goods sold <u>(3,399,000)</u>
Gross profit 1,198,000
Operating expenses <u> (448,000)</u>
Profit before taxes 750,000
Taxes (34%×750,000) <u> (255,000)
</u>
Net Income <u> 495,000
</u>
Answer:
False.
Explanation:
Alcohol is not digested like other foods. Once alcohol is swallowed, it travels down the esophagus into the stomach and the small intestine. It avoids the normal digestive process and goes right into the bloodstream.
They take deposits so D. is the answer
