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Sveta_85 [38]
3 years ago
7

Rogers Manufacturing's overhead at year-end was underapplied by $5,800, a small amount given the firm's size. The year-end journ

al entry to record this amount would include:
Business
1 answer:
Maksim231197 [3]3 years ago
3 0

Answer:

Date           Account Title and Explanation          Debit     Credit

XXXX          Cost of goods sold                            $5,800

                     To manufacturing overhead                            $5,800

             (Entry for unapplied overhead transfer to cost of goods sold)

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Rick deposited $3,100 into an account 13 years ago for an emergency fund. Today, that account is worth $5,280. What annual rate
trasher [3.6K]

Answer:

4.18%

Explanation:

The formula for used for this calculation is given as

Future value = Present( Initial) value  (1 + r)ⁿ

Where n = number of years of the investment = 13 years

Future value  (Amount of the investment after 13 years)= $5,280

Present ( Initial) value (Amount of the investment before 13 years) =  $3,100

r = rate of return

The formula for r is derived as:

r = (Future value/ Present (initial) value)¹/ⁿ- 1

r = ($5,280/$3,100)¹/¹³ - 1

r = 1.0418139573 - 1

r = 0.0418139573

r is always in percentage format

r = 0.0418139573 × 100

r= 4.18139573%

Approximately, the rate of return annually for 13 years  = 4.18%

8 0
3 years ago
Record the consumption of supplies durning the month is supplies worth $4000 were purchased on January 5 and at the end of the m
Marat540 [252]

Answer: that means you got 3/4 worth of supplies that were purchased.

Explanation:

So the way you did this problem is so weird and is not understandable

4 0
3 years ago
Depreciation--Jerry Company purchased machinery for $315,000 on May 1,2020 . It is estimated that it will have an useful life of
Gemiola [76]

Answer:

The depreciation for the first year is $75,000

Explanation:

In working hours method the depreciation on a fixed asset is charged using the ratio of numbers of hours utilized by the asset in a period and lifetime working capacity in hours.

First, we need to calculate the Depreciable value

Depreciable value = Cost of Asset - Salvage value = $315,000 - $15,000 = $300,000

Depreciation = Depreciable value x Numbers of hours worked / Total working capacity of Asset = $300,000 x 25,000 / 100,000 = $75,000

6 0
3 years ago
When using the periodic system the physical inventory count is used to determine Select one: a. both the cost of the goods sold
AlexFokin [52]

Answer:

a. both the cost of the goods sold and the cost of ending inventory.

Explanation:

The physical count is used in the periodic inventory system to calculate the amount of ending inventory. However the cost of goods sold can be derived from using the ending inventory count. Suppose we have ending inventory of 100 units and Purchases were 500 units  Also there were no beginning inventory units so the Cost of goods Sold can be calculated as

Cost of Goods Sold= Beginning Inventory Add Purchases Less Ending Inventory

Cost of Goods Sold=  0 + 500- 100= 400

8 0
3 years ago
Which of the following is NOT one of the responsibilities of the Federal Reserve?
defon
The Board of Governors, also known as the Federal Reserve Board, is the national component of the Federal Reserve System. The board consists of the seven governors, appointed by the president and confirmed by the Senate. Governors serve 14-year, staggered terms to ensure stability and continuity over time. The chairman and vice-chairman are appointed to four-year terms and may be reappointed subject to term limitations.
 
<span>Among the responsibilities of the Board of Governors are to guide monetary policy action, to analyze domestic and international economic and financial conditions, and to lead committees that study current issues, such as consumer banking laws and electronic commerce.hope this helped! :)</span>
8 0
2 years ago
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