1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IRISSAK [1]
3 years ago
13

For Sheffield Corp., the predetermined overhead rate is 70% of direct labor cost. During the month, $500000 of factory labor cos

ts are incurred of which $210000 is indirect labor. Actual overhead incurred was $360000. The amount of overhead debited to Work in Process Inventory should be: $360000 $350000 $290000 $203000
Business
1 answer:
olganol [36]3 years ago
7 0

Answer:

$203,000

Explanation:

Sheffield corporation has a predetermined overhead rate of 70%

During the month $500,000 of the factory labour cost have $210,000 in indirect labor

Therefore the amount of overhead debited to work in process inventory can be calculated as follows

= $500,000-$210,000 × 70/100

= 290,000 × 0.7

= $203,000

You might be interested in
Elway Company purchases land for $85,000 cash. Elway assumes $2,500 in property taxes due on the land. The title and attorney fe
defon

Answer:

c. $90,700

Explanation:

The computation of the cost of the land is shown below:

= Purchase cost of land + property taxes + attorney fees + land graded cost

= $85,000 + $2,500 + $1,000 + $2,200

= $90,700

We added the property taxes, attorney fees, and the land graded cost to the purchase cost of the land. We do not include the parking lot expenses

3 0
3 years ago
At the beginning of Year 1, a company reported a balance in common stock of $169,000 and a balance in retained earnings of $69,0
elixir [45]

Answer:

Explanation:

The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.  

And, the balance sheet comprises of the assets and liabilities. With the help of the accounting equation, the total assets are equal to the total liabilities including stockholder's equity.

The preparation of the statement of stockholders’ equity and the balance sheet is presented in the spreadsheet. Kindly find the attachment below:

7 0
3 years ago
Economic models are typically based on the principle that people behave rationally. However, people do not always behave rationa
BartSMP [9]

Answer:

<em>because the existing models have been in place for so long, they are considered untouchable, the equivalent of an economic law.</em>

Explanation:

The rational economic model is even more widely used in economics because it is easier to measure. Although people have irrational behaviors, they are more subjective, which makes the rational model still the most used by the economy, because through it is possible to measure behavior patterns, statistical data and information relevant to the economy.

3 0
4 years ago
A new advertising agency serves a wide range of clients including manufacturers, restaurants, service businesses, department sto
sweet-ann [11.9K]

Answer:

C. Job - order costing

Explanation:

Job - order costing -

It is used by the organization , when the goods and services of the organization are readily identifies by separate batches or units .

The agency that will advertise accumulates its cost through the client .

The method of job - order costing is the most apt system for a non - manufacturing firms .

Hence , from the data of the question , the correct answer is ( C ) Job - order costing .

8 0
3 years ago
Berman &amp; Jaccor Corporation's current sales and partial balance sheet are shown below.
blsea [12.9K]

Sorry but this is kind of confusing but can you plz help me with this math problem

Santa is trying to buy socks for all his elf helping the year. He went on Amazon and found a pack of 8 socks for $24. He wants to know what each socks cost to be able to write an equation, and later he wants to know how much 12 socks with cost him.

I need the Ratio, Unit Rate, C.O.P. And an equation

4 0
3 years ago
Read 2 more answers
Other questions:
  • Distributor packages and sells two types of products, A and B. The respective sales prices for the products are $10 and $5. The
    11·1 answer
  • anice plans to save $75 a month, starting today, for 20 years. Kate plans to save $80 a month for 20 years, starting one month f
    15·1 answer
  • Clint wants to write a proposal to update computer software. He knows his manager is not very familiar with technology or intere
    6·2 answers
  • Storytime Park competes with Splash World by providing a variety of rides. Storytime sells tickets at $ 100 per person as a​ one
    11·1 answer
  • Claude purchased raw land three years ago for $1,500,000 to develop into lots and sell to individuals planning to buildtheir dre
    6·1 answer
  • Julio decides his business will begin staying open until 7 p.m. instead of 6 p.m. The next day, the shop stays open until 7 p.m.
    11·1 answer
  • What are the major chemical components of the cell membrane?
    7·1 answer
  • PLEASE HELP WILL GIVE BRAINLIEST OT CORRECT ANSWER
    12·2 answers
  • If your lifestyle budget is $50000 a year selecting a career earning $75,000 will most likely allow you to meet your lifestyle g
    7·1 answer
  • MC Qu. 134 Mustang Corporation has accumulated... Mustang Corporation has accumulated the following accounting data for the mont
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!