B false because when it inflows it shows you that is false but when it does not inflow is will be true
Answer:
$27.2
Explanation:
First we have to calculate the total estimated manufacturing overheads which shall be determined as follows:
Estimated total manufacturing overheads=Variable manufacturing overhead+ Fixed manufacturing overheads
Variable manufacturing overhead=Estimated labour hours*manufacturing overhead per labour hour
=75,000*$10.70=$802,500
Fixed manufacturing overheads=$1,237,500
Estimated total manufacturing overheads=$802,50+$1,237,500
=$2,040,000
Now we will compute the predetermined overhead rate which shall be determined using the following formula:
Predetermined overhead rate=Estimated total manufacturing overheads/Estimated labour hours
Predetermined overhead rate=$2,040,000/75,000=$27.2
CPI is the Consumer Price Index.
CPI is one of the most used statistics.
In 1960 : CPI 29.3 --------------100 %
In 2017 : CPI 255 --------------- x %
-----------------------------------------------------
29.3 : 255 = 100 : x
29.3 x = 25,500
x = 25,500 : 29.3
x = 870.3 %
For $1 million in 1960 there is $8.703 million in 2017.
Answer: The movie star earned $8.703 million in 2017.
Answer:
The journal entries are as follows:
(i) On December 31,
Service revenue A/c Dr. $25,000
To income summary A/c $25,000
(To record the service revenue)
(ii) On December 31,
Income summary A/c Dr. $18,400
To wages expense $14,400
To rent expense $4,000
(To record the rent and wages expense)
(iii) On December 31,
Income summary A/c($25,000 - $18,400) Dr. $6,600
To Retained earnings $6,600
(To record the Retained earnings)
(iv) On December 31,
Retained earnings A/c Dr. $1,400
To dividend A/c $1,400
(To record the dividend)
