Answer:
C. $56,700
Explanation:
From the accounting equation which shows the relationship between the elements of a balance sheet namely;asset, liabilities and equity.
Asset = liabilities + equity
Total assets = $15,000 + $12,300 + $3,100 + $35,000 = $65,400
Total liabilities = $8,700
Stockholders’ equity = $65,400 - $8,700
= $56,700
The stake of the owners of the company is $56,700
Answer:
The amount of overhead debited to Work in Process Inventory should be: a. $182,00
Explanation:
The Overheads are Applied in the Manufacturing Costs as:
Budgeted Rate × Actual Activity for the Month
At the End of the Period we would need to determined whether this amount of overhead is Over or Under Applied by comparing it to the actual overheads incurred of $180,000 (given)
In our Case, the predetermined overhead rate is 70% of direct labor cost
<em>Thus we need to find the Direct Labor Cost first</em>:
Total Labor Costs $360,000
<em>Less </em>Indirect Labor Costs<em> </em>$100,000
Direct Labor Cost $260,000
<em>Therefore Overheads applied would be determined as:</em>
= $260,000 × 70%
= $182,000
Based on this information and the components of self-regulation, Sherry is implementing <u>self-evaluation</u>.
<h3>What are self-regulation?</h3>
It is the ability to analyze the environment and the set of processes that we carry out in order to successfully manage ourselves whose components are self-observation, self-evaluation and self-reinforcement.
Self-evaluation component refers to the fact that the person determines some criteria that mark or guide the objectives that he wants to achieve, these criteria can contrast whether the change in behavior is the one he is looking for or not, according to his objectives.
Therefore, we can conclude that based on this information and the components of self-regulation, Sherry is implementing self-evaluation.
Learn more about self-evaluation here: brainly.com/question/26304121
Answer:
a. Debit to variable overhead efficiency variance
d. Credit to variable overhead spending varian
Explanation:
Based on the information given in a situation where a variable overhead efficiency variance is UNFAVORABLE it will be DEBITED and variable overhead spending variance that is FAVOURABLE will be CREDITED.
Therefore the journal entry will include a:
a. Debit to variable overhead efficiency variance
d. Credit to variable overhead spending Variance
Answer:
The loss on equipment recognized by Devin on its internal accounting records for 2017 is $9,000
Explanation:
By using the given information which is mentioned in the question, first we have to calculate the book value of equipment.
So, the book value of the equipment is equals to
= Cost price - accumulated depreciation
= $120,000 - $66,000
= $54,000
Now we can calculate the loss or gain on sale of equipment which is equals to
= Sale price - book value
= $45,000 - $54,000
= - $9,000
Since, the amount shows negative which means the company has suffered a loss of $9,000 on equipment
The other things like net income of 2017 and 2018 is irrelevant because it tells the net income of overall company not for equipment. So, it is not being considered while computation
Hence, the loss on equipment recognized by Devin on its internal accounting records for 2017 is $9,000
