Business, 23.06.2020 19:01 violet9139
Oak Outdoor Furniture manufactures wood patio furniture. If the company reports the following costs for June 2018​,
Wood $ 270,000
Nails, glue, stain 18,000
Depreciation on saws 5,300
Indirect manufacturing labor 45,000
Depreciation on delivery truck 1,700
AssemblyÂline workers' wages 51,000
what is the balance in the Manufacturing Overhead account before overhead is allocated to​ jobs? Assume that the labor has been​incurred, but not yet paid. Prepare journal entries for overhead costs incurred in June. What is the balance in the Manufacturing Overhead account before overhead is allocated to​ jobs?
1. First, prepare an entry for the overhead costs for materials used.
2. ​Next, prepare an entry for the overhead costs for labor incurred.
3. Finally, prepare an entry for all other overhead costs.
Answers: 1
Business, 22.06.2019 03:00
Which of the following is an effective strategy when interest rates are falling? a. use long-term loans to take advantage of current low rates. b. use short-term loans to take advantage of lower rates when you refinance a loan. c. deposit to a short-term savings instrumentals to take advantage of higher interest rates when they mature. d.select short-term savings instruments to lock in earnings at a current high rates.
Answers: 1
Business, 22.06.2019 19:10
Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.
Answers: 3
Business, 22.06.2019 19:50
Which of the following would create the most money? the initial deposit is $6,500 and the required reserve ratio is 20 percent. the initial deposit is $3,000 and the required reserve ratio is 10 percent. the initial deposit is $7,500 and the required reserve ratio is 25 percent. the initial deposit is $4,500 and the required reserve ratio is 15 percent.
Answers: 1
Business, 22.06.2019 21:10
Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.
Answers: 3
Oak Outdoor Furniture manufactures wood patio furniture. If the company reports the following costs...
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