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Alenkinab [10]
3 years ago
6

Echher Corporation uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. During the

year the company's Finished Goods inventory account was debited for $218,000 and credited for $218,500. The ending balance in the Finished Goods inventory account was $13,000. At the end of the year, manufacturing overhead was overapplied by $36,700.If the applied manufacturing overhead was $223,900, the actual manufacturing overhead cost for the year was:________.A. $200,700B. $260,600C. $200,200D. $187,200
Business
1 answer:
Irina-Kira [14]3 years ago
3 0

Answer:

A or D

Explanation:

because how they put the question

but im not 100%

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On January 1, 2018, Lumos Company purchased a machine for $70,200. Lumos uses straight-line depreciation and estimates an eight-
jeka94

Answer:

Gain= $4,200

Explanation:

Giving the following information:

Purchase price (2018)= $70,200

Salvage value= $5,400

Useful life= 8 years

Selling price= $42,000

<u>First, we need to calculate the depreciation expense and accumulated depreciation:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (70,200 - 5,400) / 8

Annual depreciation= $8,100

Accumulated depreciation (ending 2021)= 8,100*4= $32,400

<u>If the selling price is higher than the book value, the company gain from the sale. Now, we need to determine the book value.</u>

<u></u>

Book value= purchase price - accumulated depreciation

Book value= 70,200 - 32,400= $37,800

Gain/loss= selling price - book value

Gain/loss= 42,000 - 37,800

Gain= $4,200

6 0
3 years ago
Forms and papers that provide information about a business transaction are called
melisa1 [442]
They are called source documents. 
4 0
3 years ago
Suppose the world price of cotton falls substantially.
Crazy boy [7]

Answer:

(A) Decrease

(B) Increase

(C) Frictional

Explanation:

An decrease in the price of cotton will cause all the cotton producing firms to put Strategies in place that will help them to cut the costs of operations which will include the REDUCTION OF THE MANPOWER OR WORKFORCE.

When the price of raw materials or inputs used in the production processes of a given product reduces, IT WILL ENABLE THE COMPANY TO WANT TO INCREASE ITS PRODUCTION CAPACITY WHICH WILL ALSO INVOLVED AN INCREASE IN MANPOWER OR WORKFORCE.

Frictional Unemployment is a type of Unemployment caused by seasonal changes such as reduced demand, reduced price of products etc or people changing jobs due to certain factors.

4 0
3 years ago
When a firm prepares financial reports by using absorption costing,
Yanka [14]
When a firm prepares financial reports by using absorption costing, <span>profits may decrease with increased sales even if there is no change in selling prices and costs. When you absorb costs that means all of the manufacturing costs are absurd by the units produced. The final cost of the inventory will include direct matters, labor and both variable and fixed overhead to product the units. </span>
8 0
3 years ago
If the standard quantity (SQ), actual quantity (AQ), standard price (SP), and actual price (AP) are 350 units, 400 units, $12, a
masya89 [10]

Then the total budget variance is $1000

The entire budget variance formulation: overall budget variance = (general amount x general rate) - (actual amount x actual fee). = (350 x $12) - (four hundred x $thirteen) = $4200 - $5200 = $one thousand adverse.

A budget variance is an accounting time period that describes times wherein actual prices are both better or lower than the usual or projected expenses. A destructive, or terrible, financial variance is indicative of a financial shortfall, which may additionally arise due to the fact sales pass over or expenses are available higher than expected.

A price range variance is a difference between the budgeted or baseline quantity of fee or sales and the real amount. The budget variance is favorable while the real sales are higher than the finances or while the actual expense is less than the finances.

Sensible budget variance analysis can assist finance teams to spot tendencies, capacity issues, opportunities, and threats in deliberate budgets so that you can make the modifications important to gain their objectives. A finances variance evaluation can also assist spot deviations among the centered vs. real budgets.

Learn more about budget variance here: brainly.com/question/25790358

#SPJ4

8 0
2 years ago
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