Computing and recording over- or underapplied overhead LO P4 A company applies overhead at a rate of 180% of direct labor cost. Actual overhead cost for the current period is $1,151,000, and direct labor cost is $630,000.
1. Compute the under- or overapplied overhead.
2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold.
Required 1
Required 2
Compute the under- or overapplied overhead.
W
Factory Overhead
Required 1 Required 2 Compute the under- or overapplied overhead. W Factory Overhead Journal entry worksheet < A > Record the entry to close over- or underapplied overhead. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal

Pursuant to the video, if the news reporter had challenged the reasonableness of her detention by the coach store, coach could have claimed the which is also known as merchant protection statutes according to the book.

During january 2018, the following transactions occur: january 1 purchase equipment for $20,600. the company estimates a residual value of $2,600 and a five-year service life. january 4 pay cash on accounts payable, $10,600. january 8 purchase additional inventory on account, $93,900. january 15 receive cash on accounts receivable, $23,100 january 19 pay cash for salaries, $30,900. january 28 pay cash for january utilities, $17,600. january 30 firework sales for january total $231,000. all of these sales are on account. the cost of the units sold is $120,500. the following information is available on january 31, 2018. depreciation on the equipment for the month of january is calculated using the straight-line method. the company estimates future uncollectible accounts. at the end of january, considering the total ending balance of the accounts receivable account as shown on the general ledger tab, $4,100 is now past due (older than 90 days), while the remainder of the balance is current (less than 90 days old). the company estimates that 50% of the past due balance will be uncollectible and only 3% of the current balance will become uncollectible. record the estimated bad debt expense. accrued interest revenue on notes receivable for january. unpaid salaries at the end of january are $33,700. accrued income taxes at the end of january are $10,100

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?