All categories

3 years ago

G At the end of a month, how is over or under applied overhead reported on the financial statements

Business

1 answer:

andrew-mc [135]3 years ago

4 0

Answer:

Hie your question has missing information, i tried to look it up online but i could not find it.

Here below is some explanation on the g part of your question on the treatment of over or under applied overhead on the financial statements.

At the end of the reporting period, the entity compares its actual manufacturing overhead to its applied manufacturing overhead (used in determining product cost)

<u>under- applied or over- applied</u>

If actual manufacturing overhead > applied manufacturing overhead, the overheads are under- applied.

and

If actual manufacturing overhead < applied manufacturing overhead, the overheads are over- applied.

<u>reporting on the financial statements</u>

under- applied are added to the cost of sales in the trading account. this increases the costs of sales amount.

under- applied are deducted from the cost of sales in the trading account. this decrease the costs of sales amount

<em>Alternatively,</em>

under -applied overheads are allocated to inventory balances including cost of sales and added to the total of the balances as the end of the period.

and

over -applied overheads are allocated to inventory balances including cost of sales and deducted from the total of the balances as the end of the period.

You might be interested in

Madison Company issued an interest-bearing note payable with a face amount of $10,800 and a stated interest rate of 8% to the Me

Aleks [24]

Answer:

$360

Explanation:

Interest Expense associated with the loan is the only operating cash flow. We need to calculate the interest expense first

As the note is issued on August 1, year 1, only 5 months has been passed on December 31, year 1, So we calculate the interest expense for only 5 months.

Interest Expense = Value of Note x Stated Interest rate x 5/12 = $10,800 x 8% x 5/12 = $360

It is assumed that the interest is paid on December 31, year 1.

4 0

4 years ago

Correcting a market with an externality through taxation is _________ correcting it through a set output target from command and

Kipish [7]

Correct question:

Correcting a market with an externality through taxation is _________ correcting it through a set output target from command and control.

Group of answer choices

A. less efficient than

B. as efficient as

C. either more or less depending on the elasticity of demand

D. more efficient than

Answer:

Correcting a market with an externality through taxation is (A) less effective than correcting it through a set output target from command and control.

<h3>Correcting a market with taxation:</h3>

The government can discourage the consumption of harmful products by raising taxes on them.
Cigarette and alcohol taxes, for example, are raised on a regular basis to discourage their consumption and limit their adverse impacts on unconnected third parties.

<h3>Command and control strategies:</h3>

Command and control is a sort of environmental regulation that allows policymakers to expressly regulate both the amount and the procedure by which a company should maintain environmental quality.
Correcting marketing is more effective than correcting manufacturing through taxation.

<h3>Reason -</h3>

As it is stated above Correcting marketing is more effective than correcting manufacturing through taxation.

Therefore, Correcting a market with an externality through taxation is (A) less effective than correcting it through a set output target from command and control.

Know more about market correction here:

brainly.com/question/2626419

#SPJ4

7 0

2 years ago

T-Bills are a security whose price can vary in the market where they are bought and sold after they are auctioned to the investi

natka813 [3]

Answer:

C. What you earn on this security would not change as a result of the change in interest rates.

Explanation:

The increase in the interest rate will decrease the price of the T-Bill if you want to sell it to another investor, but what you will earn with the security will not change at all. Your earnings in dollars = interest rate paid by the T-Bill or any other type of bond.

If you buy and sell securities for a living, then a change in the interest rates can make you win or lose money, since the price of the securities will increase or decrease. If interest rates increase, the price decreases. But if you invest on a security to earn the coupon or interest rate that it pays, a change in the price will not affect you because you already own it. The opportunity cost of holding the security might change, but the accounting revenues will not.

7 0

3 years ago

More recent work in the area of strategic management regarding assertions about being stuck in the middle:_________.

ikadub [295]

Answer:

<em>B) contradicts the argument and finds that firms that successfully pursue cost leadership and product differentiation simultaneously can often expect to gain a sustained competitive advantage.</em>

7 0

2 years ago

Suppose Yamahonda, a Japanese-owned motorcycle manufacturer, builds a production plant in Alabama. This is an example of foreign

Alika [10]

Answer:

The statement is true, as it is an example of foreign direct investment.

Explanation:

Foreign direct investment is the direct investment by individuals or legal persons in production or business operations abroad. In this context, investments include both acquisition of foreign operations and expansion of own operations.

Foreign direct investment does not include the purchase of either shares or bonds per se. More specifically, the IMF has restricted direct investment on acquisitions to cases where the foreign investor owns 10% or more of the shares that give administrative rights in the business. Investment funds that can be classified as foreign direct investments therefore include equity deposits, reinvestments of dividends from the business, as well as the allocation of short-term and long-term loans between parent companies and subsidiaries.

3 0

3 years ago