Chapter 16, Problem 6DQ

Help

Shoreline Production Inc. estimated its manufacturing overhead costs for 2023 to be $675,000, based on 225,000 estimated machine hours. The actual machine hours for 2023 were 240,000. The manufacturing overhead account contains debit entries totaling $690,000. Determine whether the manufacturing overhead for 2023 was overallocated or underallocated. (Round your immediate calculations to one decimal place.)

Please explain the solution to this general accounting problem with accurate principles.

I am looking for the correct answer to this general accounting question with appropriate explanations.

Wolfhard Construction Inc. purchased a used Caterpillar D8 bulldozer for $450,000 in February 2019. The company estimates the equipment's useful life to be 10 years and the salvage value to be $50,000. Using straight-line depreciation, calculate the depreciation expense for 2019, the first year of the equipment's life, and determine the equipment's net book value at December 31, 2021, after the third year of the equipment's life. [The company allows full-year depreciation regardless of purchase month] (Round your calculation to nearest number for Accumulated depreciation part if needed)

Can you explain the process for solving this financial accounting question accurately?

The amount of cost of goods sold for the period is_.

Think of a company like Bombardier, a multinational aerospace and transportation company, requiring capital intensive (debt or equity) investments necessary for operations. Another example is Tesla, which is a leading clean energy company requiring substantial capital to find its operations and expansion efforts. Tesla has incurred rapid growth and has a capital-intensive business model requiring long-term debt and equity financing.   For your initial posting, identify a company which requires significant long-term debt or equity to run their operations. Describe the type of investments the company has used and why you believe they used this form of investment.

I need help solving this general accounting question with the proper methodology.