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2 years ago

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geniusboy [140]2 years ago

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Storm Concert Promotions Valle Home Builders Actual indirect materials costs$12,400 $7,000 Actual indirect labor costs 55,900 46

Minchanka [31]

Answer and Explanation:

Storm Concert Promotions

The computation of overhead is shown below:-

Factory Overhead-Storm

Indirect materials $12,400 Applied overhead 91,600

Indirect Labor $55,900

Other overhead

costs $16,000

Overapplied overhead $7,300

The Journal entry is shown below:-

Factory overhead Dr, $ 7,300

To Cost of goods sold $7,300

(Being cost of goods sold is recorded)

Valle Home Builders

The computation of overhead is shown below:-

Factory Overhead-Value home builders

Indirect materials $7,000 Applied overhead 98,300

Indirect Labor $46,900

Other overhead

costs $48,900

Overapplied overhead $4,500

Factory overhead Dr, $ 4,500

To Cost of goods sold $4,500

(Being cost of goods sold is recorded)

5 0

3 years ago

What is the great advantage of competitive markets?

andrew11 [14]

Prices are very cheap

6 0

3 years ago

Even though the moving averages help highlight the long-run trend of a time series, the moving-average model is not designed for

kobusy [5.1K]

Answer:

Moving averages cannot be used to make future forecasts successfully because certain events like demand, supply ,quality and external factors such as competitions cannot be determined with the use of Moving averages, and these factors have a huge impact on prices

Explanation:

Moving averages are generated / obtained using data from events that occurred previously hence they highlight the long-run trend of a time series, but they cannot be used to make future forecasts successfully because certain events like demand, supply ,quality and external factors such as competitions cannot be determined with the use of Moving averages. and these factors have a huge impact on prices

4 0

2 years ago

Lewelling Company issued 101,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,100 hour

GenaCL600 [577]

Answer:

Paid in capital excess of par is $$309,000

Explanation:

Journal Entries

Debt: Legal services (4,100 hours × $100 per hour) = $410,000

Credit: Common stock (101,000 shares × $1 par) = $101,000

Credit: Paid-in capital - excess of par (Remainder) = $309,000

To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)

In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.

Paid in capital excess of par is $$309,000

3 0

2 years ago

Frank Corporation manufactures a single product that has a selling price of $25.00 per unit. Fixed expenses total $64,000 per ye

gavmur [86]

Answer:

Break-even point in units= 10,375

Explanation:

Giving the following information:

Selling price= $25

Fixed cost= $64,000

Break-even point in units= 8,000

First, we need to determine the unitary contribution margin:

Break-even point in units= fixed costs/ contribution margin per unit

8,000 = 64,000 / contribution margin per unit

contribution margin per unit8,000= 64,000

contribution margin per unit= 64,000 / 8,000

contribution margin per unit= $8

Now, the number of units to be sold to make a profit of $19,000:

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (64,000 + 19,000) / 8

Break-even point in units= 10,375

8 0

2 years ago

Please subscribe to my mom channel pleaseI need 100 subscribe​​

Please subscribe to my mom channel pleaseI need 100 subscribe