Chapter 3, Problem 2BCRQ

The bank statement shows a balance of $12,000. There are $1,000 in outstanding checks and a $500 deposit in transit.What is the adjusted cash balance?

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What was the amount of collection from customer?

What is company k's net income?

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Regent Manufacturing estimates that annual manufacturing overhead costs will be $765,500. Estimated annual operating activity bases are direct labor costs of $450,000, direct labor hours of 45,000, and machine hours of 85,000. Compute the predetermined overhead rate for each activity base: a. Overhead rate per direct labor cost b. Overhead rate per direct labor hour c. Overhead rate per machine hour