I chose (9,900 underapplied) which was wrong and the way I came up with that answer is below... "direct labor cost = 159,000 - 20,000 = 139,000, applied overhead = 139,000 x 150% = 208,500, 198,600 - 208,500 = 9,900 underapplied'' <--This is how I got my answer, but when I chose that one...

1) Which of the following errors would most likely lead to an overstatement of income? A. Recording revenue next period when the cash is collected although it is earned in the current year. B. Recording an expense incurred this year when the cash is paid next year. C. Failure to adjust...

I purchases 2 properties on 7 may 2002. The properties were either side of a semi detached townhouse development. Property 1 is my holiday house and property 2 is a rental property. I incurred the following expenses in relation to each property: - Purchase price 150,000 - Stamp duty 2,250 -...

On July 1 ,2010 Spahn Co, pays $18,000 to Randle Insurance co. For 3year insurance contract. Both companies have fiscal years ending December 31. Prepare the journal entry on July 1 on and the adjusting entry on December 31 for Randle insurance Co

I have a problem I can't seem to solve. Beginning inventory =28000 ending inv=47000, net purchases =110000. gross profit =60 percent what is the net sales revenue. Do you have a formula to figure this out?