Answer:
$ 73.800 is the adjusted net income
Explanation:
Net Income before adjustment $ 76,400
Adjustments for:
Supplies expense (increasing expense, reducing income) $ (3.200)
Unrecorded Service Revenues (increasing net income) $ 3.680
Accrual of interest on note to bank
(increasing expense, reducing income) <u>$ (3.080)</u>
Adjusted net income <u>$ 73.800</u>
I would say that quality catering has a production-oriented culture where meeting production targets on time is prime and the fact that the manager rewards the meeting of those targets is good but he shouldn't ignore the need for employee development and satisfaction as that could have an adverse effect in the long term.
Answer:
b. $75.
Explanation:
The computation of the time charge per hour is shown below;
But before that the total charge is
Labour Charge = $800,000
Overhead Cost = $480,000
Target Profit = $220,000
Total Charge = $1,500,000
Now
time charge per year is
= $1,500,000 ÷ 20,000 direct labor hours
= $75 per year
Hence, the company's time charge per hour is $75 per year
Therefore the correct option is b.
A project that requires 25 machine hours in a year should have overhead of $10,000 added to it.
Machine hrs rate = Total overhead cost/ total Machine hrs
= $1,120,000/2,800 hrs
= 400 per hr
Overhead applied for Job = Machine hrs rate* Machine hrs used
= 400*25
=$10,000
The recurring costs of a firm that aren't specifically related to providing a machine hours good or service are referred to as overhead. The amount that a business needs charge for its goods or services in order to turn a profit is crucial overhead information for planning as well as pricing considerations. In a nutshell, overhead is any expense that is machine hours incurred to maintain the business but is not directly connected to a particular good or service.
Regardless of how much or how little a firm sells, overhead must be paid on a regular basis. For instance, a service-based company overhead with an office overhead has overhead costs in addition to direct expenditures (like labor and supplies) for providing its service, such as rent, utilities, and insurance.
Learn more about overhead here
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Answer:
They last for a certain period of time
Explanation:
Typically Certificates of Deposit are offered if the set amount is deposited and kept through the stated amount of time. (The length of the CD can be anywhere from 18 months to 3 years [most popular]) When the money is removed short of the stated time period a penalty is taken from the value of the CD.