Which of the following is a characteristic of a corporation?

Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of

kolezko [41]

Answer:

Predetermined Overhead rate is $28.7 per unit

Explanation:

Estimated Manufacturing overhead = Estimated variable manufacturing overhead + estimated total fixed manufacturing overhead

Estimated Manufacturing overhead = ( 80,000 x $10.70 ) + $1,440,000

Estimated Manufacturing overhead = $856,000 + $1,440,000

Estimated Manufacturing overhead = $2,296,000

Estimated Labor hours = 80,000 hours

Predetermined Overhead rate = Estimated Manufacturing overhead / Estimated Labor hours

Predetermined Overhead rate = 2,296,000 / 80,000

Predetermined Overhead rate = $28.7 per unit

5 0

2 years ago

Colin listed his assets and liabilities on a personal balance sheet.

sergij07 [2.7K]

Explain why the president has to be

4 0

2 years ago

Read 2 more answers

While auditing the financial statements of a nonissuer, a CPA was requested to change the engagement to a review in accordance w

oee [108]

Answer: Neither A not B

Explanation:

When an accountant compiles the financial statements of a nonissuer in accordance with Statements on Standards for Accounting and Review Services (SSARS), the accountant's report should include a statement: that the accountant does not express an opinion on the financial statements.

When an independent CPA assists in preparing the financial statements of a publicly held entity but has not audited or reviewed them, the CPA should issue a disclaimer of opinion. In such situations, the CPA has no responsibility to apply any procedures beyond Documenting that internal control is not being relied on.

8 0

2 years ago

Privo Co. purchases a machine that cost $15,000. Privo estimates a 5-year life with no salvage value. The first three years of d

Ierofanga [76]

Answer:

Double-declining balance method

Explanation:

First we have to find the depreciation rate which is shown below:

= One ÷ useful life

= 1 ÷ 4

= 20%

Now the rate is double So, 40%

In year 1, the original cost is $15,000, so the depreciation is $6,000 after applying the 50% depreciation rate

And, in year 2, the depreciation is ($15,000 - $6,000) × 40% = $3,600

And, in year 3, the depreciation is ($15,000 - $6,000 - $3,600) × 40% = $2,160

6 0

2 years ago

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vovikov84 [41]

Answer:

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6 0

2 years ago