Answer:
Allocated MOH= $283,650
Explanation:
<u>First, we need to calculate the predetermined overhead rate:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 310,000 / 20,000
Predetermined manufacturing overhead rate= $15.5 per machine hour
<u>Now, we can allocate overhead:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 15.5*18,300
Allocated MOH= $283,650
Answer:
Owner's withdrawals:______.
a) decrease owner's equity.
Explanation:
The withdrawals made by the owner of an entity reduces his or her equity interest in the entity. Owner's withdrawals are transfers of cash from the business to its owner. They are not expenses of the business and do not appear in the income statement. Instead, withdrawals may occur when an organization is spinning off extra cash or when the owner has an immediate personal need for the funds. The forms of business organizations that allow for withdrawals by the owners are the partnership and the sole proprietorship.
Answer:
February 2
Debit Inventory $60,000
Credit Cash/Accounts payable $60,000
February 5
When a return of the item purchased is done,
Debit Cash/Account payable $4,000
Credit Inventory $4,000
Explanation:
In the perpetual inventory system, any movement (sale or return or purchase) must be adjusted in the books once the item moves.
When an item is purchased, such purchase may be done by cash or on account, the entries required are
Debit Inventory
Credit Cash/Accounts payable
When a return of the item purchased is done,
Debit Cash/Account payable
Credit Inventory
Amount returned = $40 * 100
= $4,000
The correct answer is C. Average daily balance method.
In average daily we consider balance interest or owed at the end of the day.
To calculate debt credit card we take the percentage of the total amount of current balance which will be termed as the interest then add one percent of the principal.
T o calculate for daily credit card balance we total the balance in the billing cycle everyday then you will divide your total with the number of days which in the cycle.
Explanation:
A major problem in investing in the countries of South America are the problems arising from corruption, political instability and bureaucratization.
There are also many positive points that make large companies operate in such countries, such as Brazil, for example, which is a large country with enormous potential for consumption and also local and government incentives for setting international companies in the country.
However, it is essential that companies operate in these countries having knowledge of the real local situation in terms of the main problems occurring in the country, such as corruption, which can lead to significant problems for the company's business.
It is important, therefore, that there is an accurate internal control over the businesses and the corruption-related indexes and an active and regular monitoring of data essential to the business.
It is also important to have policies and an internal culture aimed at maintaining ethical values, so that the company is supported by positive and ethical values that will lead to a good positioning in the market.
