Answer:
When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.
$342,000
Regardless if the amount of supplies has not been paid or not, it is still accounted for in the balance sheet. You would have a debit of 342,000 for supplies, credit of supplies payable of 240,000 and a credit to cash for 102,000 assuming that the difference between both amounts was paid for with cash.
Answer:
For Option 1:
Cost = $175
Variable Cost = $0.20
For Option 2:
Cost = $350
Variable Cost = $0.09
A).
Volume demand would be same at
175 + x × 0.20 = 350 + x × 0.09
175 + 0.20x = 350 + 0.09x
0.20x – 0.09x = 350 – 175
X = 175/0.11
X = $1590.9
B).
Total cost at this break-even volume is
For option 1:
= $175 +1590.9 × 0.20
= $493.18
For Option 2:
= $350 + 1590.9 × 0.09
= $493.18
Answer:
Hie your question has missing information, i tried to look it up online but i could not find it.
Here below is some explanation on the g part of your question on the treatment of over or under applied overhead on the financial statements.
At the end of the reporting period, the entity compares its actual manufacturing overhead to its applied manufacturing overhead (used in determining product cost)
<u>under- applied or over- applied</u>
If actual manufacturing overhead > applied manufacturing overhead, the overheads are under- applied.
and
If actual manufacturing overhead < applied manufacturing overhead, the overheads are over- applied.
<u>reporting on the financial statements</u>
under- applied are added to the cost of sales in the trading account. this increases the costs of sales amount.
under- applied are deducted from the cost of sales in the trading account. this decrease the costs of sales amount
<em>Alternatively,</em>
under -applied overheads are allocated to inventory balances including cost of sales and added to the total of the balances as the end of the period.
and
over -applied overheads are allocated to inventory balances including cost of sales and deducted from the total of the balances as the end of the period.
<span>Maria lives in a D. Patrilocal residence which means that the couple get married and live near (or with) the husbands parents. Since the new couple lives near (or with) the husbands parents, they are most likely expected to continue on with the same patterns as were considered "normal" before the wife came along, which is why Maria gives advice about nearly everything.</span>