Answer:
The correct answer is option (c) $264 underapplied
Explanation:
Given data;
Direct labour hour = 22160
Total Manufacturing overhead cost= $585,024
Actual direct labor hour = 22150
Actual Manufacturing overhead cost = $585024
Calculating the Predetermine overhead rate using the formula;
Predetermined Overhead rate=Total Overhead Cost/Total Direct Labor Hour
Predetermined Overhead rate = $585024/22160
=$26.4 per labor hour
To determine the under-applied amount of overhead cost, we use the formula;
Under−Applied amount= Estimated Overhead Cost*Actual Overhead Cost
Substituting into the formula, we have
(22150*26.4)-585024
Under applied = $ 264
Answer:
sharecropping
Explanation:
Sharecropping is a system of tenancy agriculture . In it a landowner gives a portion of his land to a labour for the purpose of raising crop . In return , he gets a share of crop raised by him for free.
After the civil war , former slaves were in search of jobs . Due to depression and absence of credit system ,they went into this deal of sharecropping with whites . They also borrowed heavily for getting seeds and fertilizer. Landlords charged high interest rate for that which led them to debt-trap. Landowner also put condition like selling the yield on their condition at pre-specified cheap price.
Answer: Sarah failed to evaluate a potential ethical issue.
Explanation:
From the question, we are informed that Sarah who is the controller of a large beverage supplier, supervises two employees and that her boss, Vladimir, told her to increase the company's inventory balance for an amount that is material to the financial statements by crediting several small "miscellaneous" expense accounts.
We are further told that Sarah does not know the reason behind this but told one of her staff to make them because she has been instructed to do so.
We can see that Sarah failed to evaluate a potential ethical issue. She didn't evaluate the effect of what she is doing. In this case, what her boss told her to do could be a case of fraud and she just obliged without asking questions which will put her conscience at ease in case anything happens but the fact that she just did it without asking questions or thinking if what she has done is morally right or wrong, it shows that Sarah failed to evaluate a potential ethical issue.
Answer:
Net Increase in cash = $124,200
Explanation:
Note: The correct value for Year 2021 inventory is $510,300 not $10,300.
Also note: See the attached excel file for the statement of cash flows for 2022.
In the attached excel file, the following workings are used:
Workings:
w.1: Increase in accounts receivable = Account receivable in 2022 - Account receivable in 2021 = $237,600 - $205,200 = $32,400
w.2: Decrease in inventory = Inventory in 2022 - Inventory in 2021 = $450,900 - $510,300 = -$59,400
w.3: Decrease in accounts payable = Accounts receivable 2022 - Accounts receivable 2021 = $105,300 - $116,100 = -$10,800
w.4: Disposal of land = Land in 2021 - Land in 2022 = $270,000 - $216,000 = $54,000
w.5: Purchase of equipment = Equipment in 2022 - Equipment in 2021 = $702,000 - $540,000 = $162,000
At least $2 per bag as most airlines don't pay.
