Answer:
$31
Explanation:
Given the following information,
Total factory overhead costs = $1,745,300
Direct labor hours = 56,300
To calculate the predetermined manufacturing overhead rate, we will make use of the formula below;
Predetermined manufacturing overhead rate = Total estimated overhead costs for the period / Total amount of allocation base
= $1,745,300 / 56,300
= $31
Therefore, the predetermined overhead rate to apply to factory overhead is $31
Answer:
C.
Explanation:
As a current liability. Are obligations of the company that are expected to get paid whitin the period of one year and include liabilities such as Accounts payable, short term loans, bank overdraft, interest payable and the other liabilities of the company that are current.
Bill pay powered by Melio allows you to fund payments to vendors using the 3 methods of:
- Debit card.
- Credit card.
- EFT from their bank.
<h3>What is Bill Pay powered by Melio about?</h3>
This is known to be a new feature that allows all users to book their vendor payments through the use of their Debit card, a Credit card, or EFT obtained from their bank and then it is used to issue or sends payment to their vendors.
Therefore, Bill pay powered by Melio allows you to fund payments to vendors using the 3 methods of:
- Debit card.
- Credit card.
- EFT from their bank.
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Answer:
1.
No Entry
2.
Insurance Expense $125 (debit)
Insurance Prepaid $125 (credit)
3.
Depreciation $60 (debit)
Accumulated depreciation $60 (credit)
4.
Unearned Revenue $930 (debit)
Earned Revenue $930 (credit)
5.
Accounts Receivable $260 (debit)
Service Revenue $260 (credit)
6.
Interest expense $85 (debit)
Interest payable $85 (credit)
7.
Salaries expense $1,570 (debit)
Salaries Payable $1,570 (credit)
Explanation:
There is no entry required for supplies on hand as this is the Ledger Account Balance.
Insurance expense is recognized out of the prepaid insurance premium.
The liability : Unearned Revenue is de-recognized and Earned Revenue is recognized when services have finally been performed.
Answer:
fall;fall
Explanation:
When the market is highly competitive there is a chance that firms may take economic losses due to stiff competition. In that case, they might decide to showdown and exit the market. When the firms exit the market, industry output fall and the competition starts to decrease. In the long-run, due to less competition, the economics loss also tends to fall.
