Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
$57,400
Explanation:
The computation of the estimated total manufacturing overhead for the Customizing Department is shown below:
= Total fixed manufacturing overhead cost + Direct labor-hours × Variable manufacturing overhead per direct labor-hour
= $35,000 + 7,000 direct labor hours × $3.20
= $35,000 + $22,400
= $57,400
All other information that is given in the question is ignored.
Answer and Explanation:
The Journal entry is shown below:-
Bond interest expense Dr, $18,610
To Cash $18360
To Discount on bonds $250
(Being first interest payment is recorded)
For recording the first interest payment we simply debited the bond interest expenses as it increased the expenses and we credited cash and discount on bonds as it reduced the assets and the discount should be credited
Working Note
Total discount on bonds issued = Sold bonds - Received proceeds
= $408,000 - $403,000
= $5,000
Amortization of Semi Annual Discount = Total discount on bonds issued ÷ Number of periods
= $5,000 ÷ 20
= $250
Cash interest paid = Sold bonds × Interest rate × From Jan to June ÷ Total number of months in a year
= $408,000 × 9% × 6 ÷ 12
= $18,360
Total Interest expense = Cash interest paid + Amortization of Semi Annual Discount
= $18,360 + $250
= $18,610
Answer:
C. Estimate credit losses.
Explanation:
the client prepared aged triad balance of account receivable is generally included in audit documents so that the evaluation of estimated credit losses can be done.
Therefore, This aging is best used by the auditors to Estimate credit losses.
Answer:
L-shaped, beginning at 2PB and 1J
Explanation:
Indifference Curve is the graph representing product combinations, which give consumers the same level of satisfaction. Its slope is Marginal Rate of substitution (MRS), which implies sacrifise of a good to gain other good, satisfaction level remaining same.
Perfect Complements are the goods, used jointly to satisfy a particular consumer want, in a particular ratio.
John eats peanut butter & jelly in a particular proportion of (2:1) ; this implies that these are perfectly complementary goods for John.
Perfect Complements have right angled or L shape indifference curve. Their slope i.e MRS = 0. Such, as the goods have zero substitutability, no amount of good one will be sacrifised to gain any amount of good two. They would only be used in a particular ratio, represented by a ray from origin, L mid point.
And the 'L curve' coordinates depend on the fixed ratio of their complementary use. So, it would be (PB,J) = (2,1)
