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2 years ago

Closing entries and a post-closing trial balance are steps in the accounting cycle that occur

Business

1 answer:

Hitman42 [59]2 years ago

6 0

Explanation:

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Sneed Corporation reported balances in the following accounts for the current year: Beginning Ending Income tax payable $ 54 $ 3

bogdanovich [222]

Answer:

$181

Explanation:

Given that,

Beginning:

Income tax payable = $54

Deferred tax liability = $75

Ending:

Income tax payable = $34

Deferred tax liability = $145

Tax expenses during the year = $231

Amount of tax paid during the year:

= Tax expenses during the year + (Beginning - ending tax payable) - (Ending - Beginning deferred tax liability)

= $231 + ($54 - $34) - ($145 - $75)

= $231 + $20 - $70

= $181

7 0

3 years ago

2 times 2 equals what?<br><br> Whats ur favorite 3 songs?

FromTheMoon [43]

Answer: chickn=

Explanation:

5 0

1 year ago

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Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data

Alla [95]

Answer:

Blinks= $18.4

Dinks= $110.4

Explanation:

Giving the following information:

Blinks:

Units= 947

Direct labor hours per unit= 1

Dinks:

Units= 1,811

Direct labor hours per unit= 6

Fabrication Department= $109,400.

Assembly Department= $108,000.

First, we need to calculate the predetermined overhead rate:

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

Total overhead= 109,400 + 108,000= $217,400

Total direct labor hours= (947*1) + (1,811*6)= 11,813

Predetermined manufacturing overhead rate= 217,400/11,813

Predetermined manufacturing overhead rate= $18.40 per direct labor hour.

Now, the unitary allocated overhead per unit:

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

Blinks= 1*18.4= $18.4

Dinks= 6*18.4= $110.4

7 0

3 years ago

Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $16; direct lab

SCORPION-xisa [38]

Answer:

Selling price= $51.48

Explanation:

Giving the following information:

Direct materials $16

Direct labor $5

Variable manufacturing overhead $9

Variable selling and administrative expenses $6

To compute the total cost per unit, we will use the variable costing approach. We will only compute the variable costs.

Total cost per unit= $36

Selling price= $51.48

6 0

2 years ago

In the joint planning process, ____________ saves times by allowing planning activities to begin in advance of a formal decision

Novosadov [1.4K]

In the joint planning process, A Planning Order (PLANORD) <span>is a planning directive providing essential planning guidance and directs the initiation of plan development before the directing authority approves a military COA. It saves times by allowing planning activities to begin in advance of a formal decision.</span>

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3 years ago

Read 2 more answers