Chapter 3, Problem 3.10BE

General accounting

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Patrick Lewis Manufacturing Ltd. has been using an overhead rate of Rs.8.20 per machine hour. During the year, overheads of Rs. 310,000 were incurred, and 50,000 machine hours were worked. Therefore, overheads were: A. Under-applied by Rs. 100,000 B. Over-applied by Rs. 70,400 C. Under-applied by Rs. 70,400. Over-applied by Rs. 100,000

At the beginning of a year, a manufacturing company predicts total direct materials costs of $920,000 and total overhead costs of $1,100,000. If the company uses direct materials costs as its activity base to allocate overhead, what is the predetermined overhead rate it should use during the year?

General accounting question

At October 1, 2022, Kahlo Industries reported a cash balance of $55,000. During the month, Kahlo collected $18,000 in cash and made disbursements of $28,000. What is the cash balance at October 31, 2022? A. $30,000 credit B. $45,000 credit C. $65,000 debit D. $45,000 debit

Hi experts please provide answer this financial accounting question

What is Greenway Inc.'s annual cash flow associated with the new project?

complete the below in same table - show journal entries in the table and ensure that they matches - FlagStaff Ltd has a defined benefit pension plan for its employees. The company is considering introducing a defined benefit contribution plan, which will be available to all incoming staff. Although the defined benefit plan is now closed to new staff, the fund is active for all employees who have tenure with the company. In 2020, the following actuarial report was received for the defined benefit plan:   2020/$ Present value of the defined benefit obligation 31 December 2019 18 000 000 Past Service Cost 4 000 000 Net interest        ? Current service cost  600 000 Benefits paid   2 000 000  Actuarial gain/loss on DBO ? Present value of the defined benefit obligation 31 December 2020 21 000 000 Fair value of plan assets at 31 December 2019 17 000 000 Return on plan assets        ? Contributions paid to the plan during the year    1 500 000 Benefits paid by the plan during the year 2 000…