This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On January 1, DogMart Company purchased a two-year liability insurance policy for 22,800 cash. The ... (Read 119 times)

azncindy619

  • Hero Member
  • *****
  • Posts: 562
on: Jul 5, 2018
On January 1, DogMart Company purchased a two-year liability insurance policy for 22,800 cash. The purchase was recorded to Prepaid Insurance. Prepare the January 31 adjusting entry.

Question 2

Assume a traditional costing system applies the 40,000 of overhead costs based on direct labor hours. What is the total amount of overhead cost assigned to the standard model?
 
  Trintal Corporation manufactures two models of motorized go-carts, a standard and a deluxe model. The following activity and cost information has been compiled:
 
   Number of Number of Number of
  Product Setups Components Direct Labor Hours
  Standard 15 10 750
  Deluxe 35 15 500
 
  Overhead costs 16,500 23,500
 
  A) 16,000
  B) 24,000
  C) 25,000
  D) 15,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ladyjames123

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jul 5, 2018
Answer to Question 1

22,800/24 = 950

1/31 Insurance Expense

950
Prepaid Insurance 950

Answer to Question 2

Answer: B


azncindy619

  • Member
  • Posts: 562
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

xoxo123

  • Member
  • Posts: 335
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar
In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
Honey should never be given to children younger than one year of age Honey should never be given to children younger than one year of age
The fiscal policy to counter an inflationary gap is a(n) The fiscal policy to counter an inflationary gap is a(n)
Key foreign policy agencies Key foreign policy agencies
Video: The Vestibular System

For a complete list of videos, visit our video library