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Usimov [2.4K]
3 years ago
6

Percent of all profits and losses, this extra allocation indicates total goodwill of $150,000, which must be split among all par

tners.
Business
1 answer:
ivann1987 [24]3 years ago
8 0
This fact is true, but is this a question?
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The estimated expense for accounts that may not be collected is referred to as:
sashaice [31]

Answer: a bad debt expense

Explanation:

The estimated expense for accounts that may not be collected is referred to as. bad debt expense. Joyce Corp uses the percentage-of-receivables method to account for bad debt expense. Joyce determines that a customer account of $20,000 should be written off as uncollectible

3 0
2 years ago
Question 2: Allocating costs using ABC You have an ABC system with three pools number of cost driver units total cost in the poo
allochka39001 [22]

Answer:

Results are below.

Explanation:

<u>To calculate the activities rates, we need to use the following formula on each pool:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Pool 1= 20,000/10,000= $2 per direct labor dollar

Pool 2= 15,000/50= $300 per setup

Pool 3= 10,000/200= $50 per hour

<u>Now, we can allocate costs to each product:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Product A:

Pool 1= 2*4,000= 8,000

Pool 2= 300*20= 6,000

Pool 3= 50 *50= 2,500

Total allocated costs= $16,500

Product B:

Pool 1= 2*6,000= 12,000

Pool 2= 300*30= 9,000

Pool 3= 50 *150= 7,500

Total allocated costs= $28,500

8 0
3 years ago
A company handbook states that employees will be given warnings for three instances of arriving late for work, after which they
zhenek [66]

Answer:

"at-will" simply means the employer can let you go without cause

Explanation:

At-will means that an employer can terminate an employee at any time for any reason, except an illegal one, or for no reason without incurring legal liability. Likewise, an employee is free to leave a job at any time for any or no reason with no adverse legal consequences.

3 0
2 years ago
The credit portion of the adjustment for the depletion of a coal mine was credited to the Coal Mine account. This error would ca
alex41 [277]

its not b. the periods net income to be understated

7 0
3 years ago
At the beginning of the year, manufacturing overhead for the year was estimated to be $285,690. At the end of the year, actual d
pychu [463]

Answer:

the estimated direct labor-hours at the beginning of the year used to calculate the predetermined overhead rate was 22,250 hours

Explanation:

Manufacturing overheads are allocated to production on a predetermined basis as no business can wait to know its profit to properly allocate costs to the products sold.

It is usually based on a certain predetermined activity level (usually direct labour hours) which is then coated into the product material and labor costs to determine its manufacturing costs.

We are told the Actual overhead was over applied by $18,000, and the Actual Manufacturing overhead was $373,620.

This implies the Overhead charged to production was;

$373,620 + $18,000 = $391,620

At an activity level of 30,500 direct labor hours.

The Predetermine direct labour rate is:

$391,620 / 30,500 = $12.84

And this implies the direct labor hours at the beginning of the year is

$285,690 divided by $12.84 = 22,250 hours

7 0
3 years ago
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