Answer:
Option C is the correct option.
Explanation:
As the rights and obligation of the antique rocking chair are been passed to third party, so the damage caused by the checque been bounced is the monetry consideration agreed between the party to the contract, McGraw and Tellis. So Tellis may recover money damages from McGraw. However there is a special condition that can allow Tellis recover his asset from Rio if the third party knew before purchase of this asset, that the checque paid to Tellis by McGraw was dishonoured but still he contracted with McGraw to acquire the antique rocking chair.
Overall the option C is the correct option with which the case scenario relates.
Answer:
$3,200 overapplied
Explanation:
The computation of the total underapplied or overapplied factory overhead is shown below:
Given that
Actual total factory overhead costs incurred is $45,400
Now Overhead applied to production
= (Total factory overhead application rate per standard DLH × Standard direct labor hours allowed)
= $2.70 × 18,000
= $48,600
As we can see that the overhead applied amount is more than the actual amount so the overhead cost would be overapplied i.e.
= $48,600 - $45,400
= $3,200 overapplied
The amount of discount that has to be included in Francis's income is 0.
<h3>How to solve for the discount amount</h3>
The amount of the discount - sales price
= 300 - 250
= $50
This is the discount when it is sold to employees
Next we solve for the gross profit as
sales price x gross profit rate
= 300 x 30%
= 90
Given the amounts that we have here we have to conclude that the amount to be included in the account is 0
Read more on what a discount is here:
brainly.com/question/9841818
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