Answer:
Please see explanation
Explanation:
1. Machine hours used by Krazy Kayak are given as follows
Machine hours=Actual manufacturing overhead costs/cost per hour
=$428,000/41
=10,439 hours
2.Manufacturing overheads are underapplied because the actual overhead cost amounting to $428,000 is greater than applied overheads amounting to $405,900. The factory overheads are under applied by $22,100(428,000-405,900)
3. The journal entry to close out over or under allocated overhead are given as follows:
Debit Credit
Factory overheads applied $405,900.
Profit and loss account $22,100
Factory overheads Control $428,000
Answer: Helping make the report accessible by using a readable font, headings, lists, and white space.
Explanation:
For a report to be skimmable, it means that the report is capable of being read through quickly. The is very important in the business world because most executives barely have time but have to keep up to date witu reports and so prefer skimmable reports.
For a report to be skimmable though it needs to be very clear and concise. The reader must be able to grasp the important information quickly. This is why the report must be accessible by using a readable font, headings, lists, and white space. They will ensure that the reader gets the information needed simply by reading through.
Answer: the insurance application has been submitted.
Explanation:
Insurance is a contract which is typically represented by a policy, whereby an individual will receive financial protection in case there are losses against the thing that was insured.
Since the insurance is a contract, an offer can be made when there has been an application for the insurance which would have been submitted.
Answer:
Yes Yes
Explanation:
The fair value of each asset is less than book value implying that both firms have a loss. Losses are recognized in full regardless of whether there is commercial exchange.
