Chapter 16, Problem 16.2E

Glasswater Manufacturing, which owes Orchard Suppliers $620,000 in notes payable with accrued interest of $45,000, is experiencing financial difficulties. To settle the debt, Orchard agrees to accept from Glasswater equipment with a fair value of $580,000, an original cost of $750,000, and accumulated depreciation of $190,000. Requirements: Compute the gain or loss on the transfer of equipment.

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Compute the company's predetermined overhead rate

Company C had an estimated 185,000 direct labor hours, $594,000 manufacturing overhead, and 33,000 machine hours. The actual were 192,400 direct labor hours, 34,800 machine hours, and $612,000 manufacturing overhead. They determine overhead based upon machine hours. Calculate the predetermined overhead rate.

general accounting

general accounting

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