Answer:
Estimated manufacturing overhead rate= $18 per direct labor hour
Explanation:
Giving the following information:
Estimated manufacturing overhead for the year $ 37,080
Estimated direct labor hours for the year 2,060
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 37,080/2,060
Estimated manufacturing overhead rate= $18 per direct labor hour
Answer:
The adjustment to record bad debts for the period will be:
Debit Bad debt expense ($20,000 - $3,000) $17,000
Credit Allowance for doubtful accounts $17,000
<em>(Bad debt expense required)</em>
Explanation:
Bicylce Company adopts the aging of accounts receivable method. The aging of accounts receivable is a criterion for apportioning the balance in the accounts receivable into different buckets (aging), for example: Not due, 1 - 30 days, 30 - 60 days, over 60 days, based on historical information and assigning a credit loss percentage to each bucket.
Since the Allowance for Doubtful Accounts has a $3,000 credit, to calculate the required bad debt expense, we need to back out this amount from the amount that is deemed uncollectible, that is $20,000 - $3,000 = $17,000.
Answer:
SHEILA
Explanation:
A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.
Sheila's opportunity cost in producing berries = 10/40 = 0.25
Jim's opportunity cost in producing berries = 8/24 = 0.33
Sheila has a lower opportunity cost in the production of berries and thus has a comparative advantage in the production of berries
Answer:
The correct answer is: b. flexible manufacturing systems, total quality management, and information networks.
Explanation:
A Flexible Manufacturing System or FMS is a group of interconnected workstations through an automated material transport system. The transport system, as well as other storage systems that can be used, must be automatic. The whole set is controlled by computer
It is known as total quality management to a business management strategy that consists of the study and assessment of the concept of quality in each of the phases of an organizational process. Its purpose is the constant improvement of goods and services offered and the achievement of greater customer satisfaction.
