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Ierofanga [76]
3 years ago
13

The journal entry to record applying overhead during the production process is: a. Manufacturing Overhead XXX Work In Process XX

X b. Finished Goods XXX Manufacturing Overhead XXX c. Manufacturing Overhead XXX Finished Goods XXX d. Work In Process XXX Manufacturing Overhead XXX
Business
1 answer:
elixir [45]3 years ago
5 0

Answer:

d. Work in Process                              Dr. XXX

        Manufacturing Overheads                       XXX

Explanation:

Work in process inventory is a current asset. A debit of current asset accounts increase their balance while a credit reduces it.

Manufacturing overheads refer to indirect costs. Examples would include such as gas electricity used in manufacturing process which represents an indirect cost.

In the given case, the journal entry would be:

Work in Process A/C                                            Dr.

     To Manufacturing Overheads

(Being application of manufacturing overheads recorded)

The entry means manufacturing costs i.e indirect costs have been used, transferred and added to cost of work in process.

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Neehara recently opened a premium bakery. she did not have enough savings and hence she applied for a loan to obtain the additio
algol13

This type of financing is called a mortgage loan. This is widely used in real estate business. The buyer acquires the real estate property, say a house. Without paying the full price of the house, you can apply for a loan, usually with banks. In return, you are going to allocate monthly payments to pay off the principal amount that you borrowed plus the interest of your loan until all debt pays off. Until the debt is not yet cleared, your property is declared as collateral.

3 0
3 years ago
Debra notes that Theo Chocolate has started holding its own operations to the same IMO standards of fair trade to which it holds
slamgirl [31]

Answer:

The correct answer is letter "A": Ethical leadership.

Explanation:

Ethical leadership is the set of managerial practices that executives use to give an example to their subordinates and promote good values among the organization. This is typically achieved by promoting fair treatment among workers and social awareness with the external environment of the firm.

In the example, <em>Theo Chocolate started to follow the International Maritime Organization (IMO) standards that promote the safety and security of international shipping and forbid marine pollution from ships</em>.

8 0
4 years ago
An officer of a company has acquired shares of that issuer in the open market. If the officer wishes to sell the shares:
Brut [27]

Answer: C. II and III

Explanation:

As the shares were acquired by the officer on the open market, they are considered Control Stock. Sale of Control Stock falls under the purview of Rule 144 of the SEC that governs the sale of restricted, unregistered, and control securities so a Form 144 will need to be filed with the Sec making III correct.

Furthermore, control stock are not subject to a holding period requirement so option II is correct as well. Option C is therefore the best answer.

4 0
3 years ago
According to the guidelines of goal-setting theory, which of the following goals is most likely to stimulate performance?A. Incr
marysya [2.9K]

Answer: According to the guidelines of goal-setting theory, the following goals is most likely to stimulate performance:

1. Obtain sales levels, 15 percent over last year

2. Develop a cure for AIDS

Explanation:

Goal setting mostly inclines towards the process of an action plan fashioned to motivate and lead a person toward a objectives.  

Goal setting is one of the key component of personal-development and theory in management.  

The theory states that the unsophisticated most direct motivational cerebration of why some people perform better is because they have different performance objectives. Difficult specific goals will lead to higher performance than easy objectives or no objectives or even the setting of an abstract goal.

5 0
4 years ago
Read 2 more answers
If a firm shuts​ down, it A. will earn enough revenue to cover its variable costs but not all of its fixed costs. B. will produc
____ [38]

Answer:

The answer is: C) will suffer a loss equal to its fixed costs.

Explanation:

If a company shuts down its production temporarily (not permanently), it will stop receiving revenue from the goods it used to produce but at the same time will not be spending any money on variable costs. The company will suffer losses equivalent to its fixed costs (e.g. depreciation costs, rent, etc.).

A company decides to shut down its production when the revenue it receives from selling its products doesn't even cover their variable costs. That means it is losing money by producing its goods.

6 0
4 years ago
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