Answer:
$56,500
Explanation:
Manufacturing overhead refers to indirect factory-related costs incurred when a product is manufactured.
To calculate the balance in the Manufacturing Overhead account, we will add the beginning balance to the indirect materials to production and indirect factory labor cost.
June 2: Issued $500 of indirect materials to production.
June 13: Incurred $15,000 of indirect factory labor cost.
= $41,000 + $500 + $15,000
= $56,500
The balance in the Manufacturing Overhead account following these transactions will be $56,500.
Answer:
No, we should not buy the stock
Explanation:
The question states that after 55 years, the friend intends to close the company. That implies that after 55 years the value of the purchased share would be $0.
For next 55 years he has promised to pay $9 as a dividend each year.
The share selling price is $124 per share.
To decide whether to buy the share or not, we must first calculate the present value of the dividends to be paid, and then compare that value to the share's selling price and if the present value of the dividends received is greater than the share's sale price then the share will not be purchased.
Dividend per year = $9
Rate of return = 8%
Period = 55 years
Present Value = $9(P/A, 8%, 55)
Present Value = $110.87
The present value of dividends to be received is $110.87
The present value of dividends to be received is less than the selling price of share.
So, we should not buy the stock.
Answer:
D. subtractable as an itemized deduction.
Explanation:
Early withdrawal of savings from Certificates of Deposits (CODs), attracts interest penalties, which are sub-tractable as an itemized deduction.
