Answer appropriately;

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The accompanying expense information identify with the assembling exercises of Chang Company during the just finished year:

Assembling overhead expenses brought about:

Circuitous materials $ 16,300

Circuitous labor 143,000

Local charges, factory 9,300

Utilities, factory 83,000

Devaluation, factory 149,100

Protection, factory 11,300

Absolute genuine assembling overhead expenses incurred $ 412,000

Different expenses brought about:

Acquisition of crude materials (both direct and indirect) $ 413,000

Direct work cost $ 73,000

Inventories:

Crude materials, beginning $ 21,300

Crude materials, ending $ 31,300

Work in measure, beginning $ 41,300

Work in measure, ending $ 71,300

The organization utilizes a foreordained overhead pace of $20 each machine-hour to apply overhead expense to occupations. An aggregate of 21,000 machine-hours were utilized during the year.

Required:

1. Figure the measure of underapplied or overapplied overhead expense for the year.

2. Set up a timetable of cost of products fabricated for the year.

Wang Company aggregates the accompanying change information at December 31.

For every thing, demonstrate the (1) sort of change (prepaid cost, unmerited income, gathered income, or accumulated cost) and (2) the situation with the records before change (exaggerated or downplayed). (Enter your answers in sequential request.)

(1)

Sort of Adjustment (2)

Records Before Adjustment

(a)

Administrations performed however unbilled aggregates $600.

pick the sort of change

Gathered ExpensesAccrued RevenuesUnearned RevenuesPrepaid Expenses

Pick the situation with the record

Incomes OverstatedRevenues UnderstatedLiabilities OverstatedExpenses UnderstatedAssets OverstatedLiabilities UnderstatedExpenses OverstatedAssets Understated

Pick the situation with the record

Incomes OverstatedExpenses UnderstatedAssets UnderstatedLiabilities UnderstatedRevenues UnderstatedAssets OverstatedLiabilities OverstatedExpenses Overstated

(b)

Store supplies of $160 are available. The provisions account shows a $1,900 surplus.

pick the sort of change

Unmerited RevenuesAccrued RevenuesPrepaid ExpensesAccrued Expenses

Pick the situation with the record

Incomes OverstatedExpenses UnderstatedExpenses OverstatedLiabilities UnderstatedLiabilities OverstatedAssets UnderstatedRevenues UnderstatedAssets Overstated

Pick the situation with the record

Resources UnderstatedExpenses UnderstatedRevenues UnderstatedLiabilities OverstatedAssets OverstatedRevenues OverstatedExpenses Overstated

(c)

Utility costs of $275 are neglected.

pick the sort of change

Paid ahead of time ExpensesAccrued ExpensesUnearned RevenuesAccrued Revenues

Pick the situation with the record

Costs OverstatedLiabilities OverstatedAssets UnderstatedLiabilities UnderstatedRevenues UnderstatedAssets OverstatedExpenses UnderstatedRevenues Overstated

Pick the situation with the record

Liabilities UnderstatedLiabilities OverstatedRevenues OverstatedExpenses OverstatedRevenues UnderstatedAssets OverstatedExpenses Understated

(d)

Administration performed of $490 gathered ahead of time.

pick the kind of change

Paid ahead of time ExpensesAccrued RevenuesAccrued ExpensesUnearned Revenues

_4_

Pick the situation with the record

Incomes OverstatedExpenses OverstatedAssets UnderstatedExpenses UnderstatedRevenues UnderstatedAssets OverstatedLiabilities UnderstatedLiabilities Overstated

Pick the situation with the record

Resources OverstatedRevenues UnderstatedLiabilities OverstatedExpenses UnderstatedRevenues OverstatedExpenses OverstatedAssets Understated

(e)

Pay rates of $620 are neglected.

pick the sort of change

Accumulated RevenuesUnearned RevenuesPrepaid ExpensesAccrued Expenses

Pick the situation with the record

Resources UnderstatedLiabilities OverstatedAssets OverstatedRevenues UnderstatedExpenses OverstatedExpenses UnderstatedLiabilities Understated

Pick the situation with the record

Incomes UnderstatedAssets OverstatedExpenses UnderstatedAssets UnderstatedLiabilities OverstatedLiabilities UnderstatedRevenues OverstatedExpenses Overstated

id=1447466&page=5 Question 6 Not yet answered Marked out of 1,00 p Flag question Which of the following changes to UK tax policy would increase vertical equity: Select one: a. An increase in capital gains annual exemption financed by an increase in the top rate of capital gains tax. O O b. A reduction in the basic rate tax band to finance a reduction of the top rate of income tax. c. Simplification of the VAT rules so that there is only one rate of VAT of 15% (no exempt or zero-rated supplie OO d. Reduction in the income tax rate on interest financed by an increase in the tax rate on dividends.Optimal Capital Structure is achieved where MB = MC of bond financing VFirm VL (MM '63) VU L B B + S (Leverage) if moderate level of if excessive level of bond financing bond financing Benefit > Cost Cost > BenefitQUESTION 3 2 poi Which of the following best describes the difference between debt and equity financing? a. Equity financing can ultimately affect corporate ownership while debt financing must be repaid Ob. Debt financing does not require collateral while equity financing does OC Equity financing includes bonds while debt financing includes loans d. Interest on debt financing is not tax deductible while dividends are tax deductibleons/526141 structures shown below would yield a higher return. Capital Structure A Capital Financing Structure Cost Debt 30% 5% Interest rate Equity 70% 12% Interest rate of debt plus risk premium Capital Structure B Capital Financing Structure Cost Debt 20% 6% Interest rate Equity 80% 12% Interest rate of debt plus risk premium According to tradeoff theory, which capital structure will yield a higher return assuming all other things remain constant? O Capital Structure A because Its corporate cost of capital Is greater than the corporate cost of capital of Capital Structure B. O Capital Structure A because its corporate cost of capital is less than the corporate cost of capital of Capital Structure B. Capital Structure B because its corporate cost of capital is greater than the corporate cost of capital of Capital Structure A. Capital Structure B because its corporate cost of capital is less than the corporate cost of capital of Capital Structure A. L e Prise F12 F F10 F11 7