The buyers of a good will want to purchase it as long as their willingness to pay for the good is

A company allocates overhead at a rate of 160% of direct labor cost. Actual overhead cost for the current period is $1,020,000,

murzikaleks [220]

Answer:

(A) $180,000 (B) A journal entry was prepared for over- or under applied overhead to cost of goods sold.

Explanation:

Solution

Now,

Let us recall from the statement from the example as follows:

A company gives an overhead at =1 60% rate

The actual overhead cost for the present period is =1020,000

Direct cost of labor = $525,000

Then,

(a) For the under applied overhead using T account we have the following:

The direct labor cost overhead = 525,000 * 160% (allocated overhead)

=$ 840,000

Thus

The Under applied overhead becomes,

Under applied overhead =The actual overhead - applied overhead

In other words we deduct the actual overhead for applied overhead

=$1020,000 - $840,000 = $180,000

(B) A Journal entry is carried out for the close over or under applied overhead.

Date Particulars Debit Credit

Cost of goods sold A/c $180,000

Manufacturing overheads $180,000

5 0

2 years ago

Suppose the incomes of buyers in a market for a particular inferior good decrease and there is also a reduction in input prices.

Natasha_Volkova [10]

Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

With a decrease in input prices, the producers will be willing to produce more items, but we are unsure if consumers will be able to buy more because they drop in income; therefore, we don't know what the price will do.

5 0

2 years ago

Read 2 more answers

What economic problem did many countries face as a result of world war 2

rodikova [14]

Answer:

trade deficits, lack of investment capital, and wide gaps between rich and poor

Explanation:

6 0

2 years ago

What is the difference between internal validity and external validity? A. A statistical analysis is said to have internal vali

UNO [17]

C. A statistical analysis is said to have internal validity if the statistical inferences about causal effects are valid for the population being studied. The analysis is said to have external validity if conclusions can be generalized to other populations and settings.

So internal validity means the results are accurate and you can use them to make sense of the group you are studying. External validity still means the results are accurate, but that you can use them to make assumptions about the population as a whole.

So if you look at a field of cows where half are white and half are brown, you have internal validity that 50% of your sample is white and 50% is brown. This result would not have external validity because in the whole world, cows can be different colors or combinations of colors.

8 0

2 years ago

_____is the risk of spending too much time on the new product or on purchasing the new product.

Mariana [72]

Functional or performance risk is the risk of spending too much time on the new product or on purchasing the new product.

<h3>What is a functional risk?</h3>

Functional - Perceived risks can include the fear and or doubt a consumer has that the product they are buying will fail to perform its intended function.

Performance risk is the risk that the buyer, who owes the money, can legitimately avoid paying because the supplier has failed to do a good job.

The consumer might be afraid that if they buy a car, the engine or other parts may malfunction.

The possibility of the product malfunctioning and not performing as it was designed and advertised and therefore mailing to deliver the desired benefits.

To learn more about Performance risk , refer

https://brainly.in/question/3133307

#SPJ4

4 0

10 months ago