<span>Given:
cash balance per bank $3,560.20
nsf check 490
bank service charge 25
cash balance per books $3,875.20
deposits in transit 530
outstanding checks 730
My bank reconciliation:
Cash balance per bank: 3,560.20
Add: deposit in transit 530.00
deduct: outstanding checks <u> 730.00</u>
Adjusted Cash balance: 3,360.20
Cash balance per book: 3,875.20
Deduct: NSF check 490.00
Deduct: bank service charge <u> 25.00</u>
Adjusted Cash balance 3,360.20
</span>
Answer:
$179,950
Explanation:
For determining the overhead applied first we have to find the predetermined overhead rate based on the estimated cost which is shown below:
Predetermined overhead rate is
= Estimated overhead cost ÷ estimated direct labor cost
= $174,000 ÷ $87,000
= $2
Now the applied overhead is
= Predetermined overhead rate × actual direct labor cost
= $2 × $89,975
= $179,950
We simply applied the above formula so that the overhead applied could come
Not B because i just got it wrong!!
The Income Statement is a financial statement that reports the revenues, expenses, and net income or loss that resulted from a firm’s operations over an accounting period.
<u>Explanation:</u>
The Income Statement is one of the company’s center financial reports that confers their gain and loss over a remarkable time. The gain or loss is circumscribed by practicing all revenues and deducting all liabilities from both working and non-operating exercises.
The income statement is a vital element of a company’s execution reports that need to be yielded to the Securities and Exchange Commission (SEC). An income statement presents worthy insights into a company’s operations, the performance of its management, underperforming areas and its production applicable to industry rivals.
Sensitivity analysis. Where one variable is being tweaked a little to see the NPV, that is always sensitivity analysis.
