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lora16 [44]
2 years ago
14

Home of households, inc., has an appliance manufacturing plant in the chicago area. the company specializes in producing smaller

washers and dryers for countries where consumers have less living space. home of households participates in the global market througha. dumping. b. balancing trade. c. exporting. d. importing.
Business
1 answer:
Allushta [10]2 years ago
6 0

Answer:

Exporting.

Explanation:

Exporting is the process where goods and sert are produced on one country and sold to buyers in another country. Usually contries produce goods they in which they incur low cost compared to other countries for export.

Home of households produces smaller washers and dryers for countries where consumers have less living space. So they are exporting.

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Several years ago, Grant County was sued by a former County employee for wrongful discharge. Although it was to be contested by
vovangra [49]

Answer:

d) Debit Expenses $50,000 and Claims payable $100,000; Credit Cash $150,000.

Explanation:

As for the information provided,

There was this law suit against the company from past several years. Where the lawyers already estimated that liability on the company will arise amounting $100,000.

Thus, on the provisional basis such claims of $100,000 would have been provided ideally.

Now, after final judgement the court had cleared about the claim which is $150,000.

Thus, entry to record such claim of $150,000 will be:

Expenses A/c Dr.               $50,000

Claims Payable A/c Dr.      $100,000

    To Cash A/c                                             $150,000

7 0
2 years ago
Merle Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month,
bixtya [17]

Answer: $721 Unfavorable

Explanation:

The following can be deduced from the question:

Actual hours = 3690 hours

Standard hours = 3620 hours

Standard rate per hour = ($14000 + $27200) / 4000

= $41200 / 4000

= $10.30 per hour

Therefore, the overall variable overhead efficiency variance for the month is calculated as:

= (Actual Hours - Standard Hours) × Standard rate per hour

= (3690 - 3620) × $10.30

= 70 × $10.30

= $721 Unfavorable

3 0
2 years ago
Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hou
Vlad [161]

Answer:

Total cost= $6,180

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (202,100/47,000) + 2

Predetermined manufacturing overhead rate= $6.3 per direct labor hour

<u>Now, we can allocate overhead:</u>

<u />

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 6.3*100

Allocated MOH= 630

<u>Finally, the total cost:</u>

Total cost= 850 + 4,700 + 630

Total cost= $6,180

4 0
2 years ago
"Ayres Services acquired an asset for $80 million in 2021." The asset is depreciated for financial reporting purposes over four
Greeley [361]

Answer:

a. The cumulative temporary book-tax difference for the depreciable asset are as follows:

December 31, 2021 = $60 million

December 31, 2022 = $40 million

December 31, 2023 = $20 million

December 31, 2024 = $0

b. The balance to be reported in the deferred tax liability account are as follows.

December 31, 2021 = $15 million

December 31, 2022 = $10 million

December 31, 2023 = $5 million

December 31, 2024 = $0

Explanation:

Note: See the attached excel file for the calculation of cumulative temporary book-tax difference for the depreciable asset and the balance to be reported in the deferred tax liability account for December 31 of years 2021, 2022, 2023 and 2024 in bold red color.

In the attached excel file, the following formula are used:

Cumulative Temporary differences at December 31 of the current year = Cumulative Temporary differences at December 31 of the previous year + (Depreciation on the tax return at December 31 of the current year - Depreciation on the income statement at December 31 of the current year)

Balance to be reported in deferred tax liability account at December 31 of the current year = Cumulative Temporary differences at December 31 of the current year * Tax rate

Download xlsx
3 0
2 years ago
Darby's company reported net income after taxes of $2,000,000, on sales of $225 million. her boss asked her to calculate the ear
Viefleur [7K]
Darby's correct response is $0.045 per share.
Because we can calculate earnings per share by taking net income after taxes and then dividing it by the total number of common shares that are issued.
Income after taxes = <span>$2,000,000
shares = $44,000,000
Earnings per share = $2,000,000 / $44,000,000
=$2/$44
=$0.045</span>
3 0
2 years ago
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