Buying a Home Reading Quiz

Golden Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direc

arsen [322]

Answer:

$544,120

Explanation:

Calculation for what The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been

First step is to calculate the Applied manufacturing overhead

Applied manufacturing overhead = $538,980 - $24,140

Applied manufacturing overhead = $514,840

Second step is to calculate the Predetermined overhead rate using this formula

Predetermined overhead rate = Applied manufacturing overhead / Actual direct labor hours

Let plug in the formula

Predetermined overhead rate = $514,840 / 21,100

Predetermined overhead rate = $24.4

Now let calculate the Estimated total manufacturing overheads using this formula

Estimated total manufacturing overheads = Estimated direct labor hours * Predetermined overhead rate

Let plug in the formula

Estimated total manufacturing overheads= 22,300 *$24.4

Estimated total manufacturing overheads= $544,120

Therefore The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been $544,120

8 0

3 years ago

Difference between a will and a living trust

aev [14]

Answer:

A will gets into effect after a person dies. trust gets into effect as soon as it is created. The will covers all the property under the individual's name. Trust covers property which has been transferred in the name of the trust.

Explanation:

A will directs who will receive his property after an individual's death. It also appoints a representative to carry out the wishes of the deceased. A trust on the other hand can divide the property before, after or at death.

A will is a document through which a person expresses his wishes about how his property is to be distributed, it can also contain details regarding funeral.

A trust is an arrangement through which property of an individual is held by other individuals or institution.

7 0

4 years ago

Project management _____ describe the key competencies that project managers must develop.

Dmitry [639]

Answer:

knowledge areas

Explanation:

Project management "knowledge areas" describe the key competencies that project managers must develop.

In Project management, the "knowledge areas" are very important for project managers in order for them to develop. They are necessary for effective project management.

The Project management knowledge areas merge with project initiation, project planning, project execution, projection monitoring and project controlling and rounds with project closing. It is the major and core technical subject matter.

5 0

3 years ago

When the purchasing company bears the liquidation expenses it will debit the expenses to:_______

MatroZZZ [7]

Answer:

c. Goodwill Account

Explanation:

In the case when the company is in liquidation and the purchasing company paid the liquidation expense as it is beared by them so here the expenses would be debited to the goodwill account

Therefore as per the given situation, the option c is correct as the liquidation expenses should be debited to the goodwill

So the rest of the options are wrong

8 0

3 years ago

As a current or future business owner, entrepreneurs need to be able to assess collateral in order to secure a possible

amm1812

Answer:

True

Explanation:

Collateral is an asset used as a guarantee or security for the payment of a loan. It assures the lender that a borrower will pay back the loan.

If an entrepreneur applies for a business loan, the bank will most likely demand collateral. The entrepreneur will need to offer an asset, either property or motor vehicle, that will act as a guarantee for the loan. Should the entrepreneur fail in repayment, the bank can sell the asset to recover their money.

Few, if any, will lend anyone money based on a business idea alone. Many banks will demand a business proposal to be backed with some guarantee to secure funding.

3 0

3 years ago