Nursing is a humanitarian service give reason

Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.

azamat

Answer:

Predetermined overhead rate = $ 9.75 per direct labor hours

Overhead applied = $897,000

Explanation:

Given:

Budgeted Overhead cost = $975,000

Actual Overhead cost = $950,000

Budgeted Machine hours = 50,000

Actual Machine hours = 45,000

Budgeted Direct labor hours = 100,000

Actual Direct labor hours = 92,000

Computation:

(a) Predetermined overhead rate.

Predetermined overhead rate = budgeted overhead cost / budgeted direct labor hours

Predetermined overhead rate = $975,000 / 100,000

Predetermined overhead rate = $ 9.75 per direct labor hours

(b) Amount of overhead applied for the year.

Overhead applied = Actual hours × Predetermined overhead rate

Overhead applied = 92000 × $9.75

Overhead applied = $897,000

7 0

4 years ago

If a company recorded an adjusting entry by debiting Interest Expense for $500 and Interest Payable for $50 in error, then the _

Ilya [14]

If a company recorded an adjusting entry by debiting Interest Expense for $500 and Interest Payable for $50 in error, then the: Adjusted trial balance's debits side will not equal its credits side.

<h3>Adjusted trial balance</h3>

Based on the information given debiting Interest Expense for $500 was right and debiting Interest Payable for $50 was wrong.

Reason being that Interest expense is a debit entry because expenses are supposed to be debited while interest payable is a credit entry.

Based on this the adjusted trial balance's debits side will not equal its credits side.

Inconclusion If a company recorded an adjusting entry by debiting Interest Expense for $500 and Interest Payable for $50 in error, then the: Adjusted trial balance's debits side will not equal its credits side.

Learn more about adjusted trial balance here:brainly.com/question/14476257

5 0

2 years ago

To keep the price of gas from rising quickly after Katrina, the government instituted price ceilings on the price of gasoline in

baherus [9]

Answer:

The correct answer is letter "D": shortages.

Explanation:

Price ceilings are price limits imposed by the government to avoid producers increasing the price of goods that can be considered as basic or necessary. Then, the price ceiling will increase the demand for those goods but not the supply. Under this scenario, there will be a shortage of that product because of the excess in demand over supply.

4 0

3 years ago

Bob is angry at his company XYZ Corp. since his annual bonus was too small. Bob who has authority to sign checks on behalf of XY

hoa [83]

Answer:

d) The bank does not need to pay because of the fictitious payee rule.

Explanation:

Here, the instrument is issued to a payee who has no interest in instrument and thus it is referred as fictitious payee. According to UCC's fictitious payee rule, the indorsement to fictitious payee is not considered forgery. In this case, the maker or drawer of instrument is liable for it. The drawer bank and collecting bank both are not liable for it.

7 0

3 years ago

Anka Company uses the LIFO inventory costing method for both its tax reporting purposes and its financial reporting purposes. An

katovenus [111]

Answer:

C. LIFO liquidation

Explanation:

Benson Company uses the LIFO inventory costing method for both its tax reporting purposes and its financial reporting purposes. In its footnotes, Benson Company is required to report the amount at which inventories would have been reported under FIFO method.

The difference between these two numbers is commonly referred to as LIFO Reserve.

LIFO reserve represents the difference in ending inventory using LIFO and ending inventory if FIFO were employed instead.

Third option is the correct option.

LIFO reserve = FIFO inventory cost - LIFO inventory cost

FIFO inventory cost = LIFO inventory cost + LIFO reserve

4 0

3 years ago

Nursing is a humanitarian service give reason​

Nursing is a humanitarian service give reason