Answer:
OAR per Machine Set-ups = $60
OAR per Machining = $15
OAR per Inspection = $50
Explanation:
Overhead Absorption Rate (OAR) = Estimated Overhead Costs/ Cost drivers
OAR per Machine Set-ups = $150,000/2,500
= $60 per set-up
OAR per Machining = $375,000/25,000
=$ 15 per machine hr
OAR per Inspection = $87,500/1,750
=$50 per inspection
Answer:
Reverse mortgage
Explanation:
Reverse mortgage is a type of loan in which a borrower from 62 years and above is able take part of their home equity without the need to pay monthly mortgage. This type of loan is majorly for older home owners who do not have sufficient monthly income, this type of loan can be a source of additional monthly income.
In other words, the home owner is able to get cash from borrowing against his/her home equity without selling the home. This type of mortgage loan doesn't have to be repaid until borrower wants to leave the home. Hence, the home can only be foreclosed if the borrower wants to leave the home without paying back the loan.
Answer:
RecRoom Equipment Company
Date Particulars Debit Credit
1Nov Note Receivable $ 13,200
Account Receivable $ 13,200
RecRoom Equipment Company received an $13,200, six-month, 7 percent note to settle an $13,200 unpaid balance owed by a customer.
31 December Interest Receivable $ 924
Interest Revenue $ 924
To record the accrued interest earned. $13,200*7%= $ 924. As it is for two months the amount would be $ (924/12)*2= $ 154
1 May Cash $ 13,662
Interest Income $ 462
Notes Receivable $ 13,200
RecRoom receives the interest on the note's maturity date. RecRoom receives the principal on the note's maturity date.
Answer: the body governing control on business
Explanation:
The body responsible for issuing of tax in most countries and cities differs, in most cities an organization could be set up to monitor different business or a specific business or the state government of that city may stand up for such responsibility. It all depends on the state.
As per the given question, the net cash provided by operating activities for the year is $33,000.
<h3>What is net income?</h3>
Net Income refers to the sales minus cost of goods sold and other operating expenses.
The net cash provided by operating activities for the year is $33,000 (35,000+8,000-7,000-3,000).
Therefore, Net cash provided by operating activities for the year is $33,000.
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