Answer:
$18,640 over - applied
Explanation:
For calculating the over-allocated or under-allocated amount, first, we have to compute the predetermined overhead rate which is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $377,000 ÷ 180,000 hours
= $2.09
Now we have to find the actual overhead i.e.
= Actual direct labor-hours × predetermined overhead rate
= 196,000 hours × $2.09
= $409,640
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $391,000 - $409,640
= $18,640 over - applied
Answer:
CHEESE FACTORY INCORPORATED
Income Statement
For the Year Ended August 31, 2015
Revenues:
Sales revenue $1,738,000
Total revenue $1,738,000
Expenses
Salaries and wages expense $975,000
Office expenses $115,000
Utilities expense $550,000
Total expenses <u>$1,640,000</u>
Net income <u>$98,000</u>
CHEESE FACTORY INCORPORATED
Statement of Retained Earnings
For the Year Ended August 31, 2015
Retained earnings, beginning $414,000
Add: Net income $98,000
Less: Dividends <u>$14,000 </u>
Retained earnings, ending <u>$498,000</u>
Answer:
Explanation:
The journal entries are shown below:
1. Purchase A/c Dr $8,500
To Accounts payable A/c $8,500
(Being purchase of inventory is made on credit)
2. Freight-in A/c Dr $45
To Cash A/c $45
(Being freight charges is paid for cash)
3. Purchase A/c Dr $11,985
To Accounts payable A/c $11,985
(Being purchase of inventory is made on credit)
4. Account payable A/c Dr $20,485 ($8,500 + $11985)
To Cash A/c $20,280.15
To Purchase discount A/c 204.85 ($20,485 × 1 %)
(Being the payment is recorded)
If an economy's population grows at 3 percent and real gdp grows at 2 percent, then per capita real GDP is declining
<h3>What is
GDP?</h3>
Gross domestic product (GDP) is a monetary measure of the market value of all final products and services produced by countries in a given time period. Because of its complicated and subjective nature, this metric is frequently changed before it can be deemed a valid indicator.
Consumption, investment, government spending, exports, and imports are the components of GDP calculated using the expenditures approach.
Following a 6.9 percent gain in the fourth quarter of 2021, real GDP fell at an annual rate of 1.6 percent in the first quarter of 2022.
GDP is the sum of consumer expenditure (of households, NPISHs, and general government), gross fixed capital formation, inventory changes, and exports of goods and services, less the value of government debt.
To know more about GDP follow the link:
brainly.com/question/1383956
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<span>The internal growth rate is retained earning( $0.17n) divided by Total Assets($.067n). Note that their will be a 20% cut from the equation $.17n so make sure to take out 20% from that value before dividing by Total Assets. The final equations are
.017n x .017n(.2) = Earnings to Stakeholders or E
.017n - E = Retained Earnings or R
R/.067n = Internal Growth Rate</span>
