Answer: $160,000
Explanation: Retained earnings can be defined as the amount pf earnings left with the company after taking into consideration all tyoes of dividends and taxes.
formula :-
Retained earnings = previous retained earnings + net income - dividends to equity holders - dividends to preference holders
thus,
Retained earnings = $140,000 + $65,000 - $10,000 - $35,000
= $160,000
Answer:
$103,680
Explanation:
estimated warrant liablity 3% of unid sold at $144
24,000 x 3% x 144 = $103,680
This will be the expected warranty laiblity for the sales of the period, and also the warranty expense.
warranty expense 103,680
warranty liability 103,680
warranty liability 47,000
inventory 47,000
to record warranty services
(we use inventory because the company use replacement part, those par are represented in inventory account)
<u>Warrant liablity account</u>
beginning balance 26,000
warranty expense 103,680
warrant serviced (47,000)
ending balance 82,680
Answer:
Estimated manufacturing overhead rate= $24 per direct machine hour.
Explanation:
Giving the following information:
Carlson estimated its overhead costs at $240,000 and machine hours at 10,000. The predetermined overhead rate is based on machine hours.
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 240,000/10,000= $24 per direct machine hour.
