The trial balance for Novak Corp. appears as follows: Novak Corp. Trial Balance December 31, 2017 Cash $230 Accounts Receivable 397 Prepaid Insurance 62 Supplies 137 Equipment 3040 Accumulated Depreciation, Equipment $460 Accounts Payable 292 Common Stock 910 Retained Earnings 1060 Service Revenue 2284 Salaries and Wages Expense 760 Rent Expense 380 0 $5006 $5006 If, on December 31, 2017, the insurance still unexpired amounted to $15, the adjusting entry would contain a: debit to Insurance Expense for $47. credit to Prepaid Insurance for $15. debit to Prepaid Insurance for $15. debit to Prepaid Insurance for $47.

Weber company purchases $44,270 of raw materials on account, and it incurs $52,730 of factory labor costs. supporting records show that (a) the assembly department used $27,580 of raw materials and $33,320 of the factory labor, and (b) the finishing department used the remainder. manufacturing overhead is assigned to departments on the basis of 150% of labor costs.journalize the assignment of overhead to the assembly and finishing departments.account titles and explanation debit credit

Big trail running company has started to produce running apparel in addition to the trail running shoes that they have manufactured for years. they feel that a departmental overhead rate would best reflect their overall manufacturing overhead usage. based on research the following information was gathered for the upcoming year: machining department finishing department estimated manufacturing overhead by department $ 600 comma 000 $ 400 comma 000 trail running shoes 440 comma 000 machine hours 11 comma 000 direct labor hours running apparel 60 comma 000 machine hours 39 comma 000 direct labor hours manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department. at the end of the year, the following information was gathered related to the production of the trail running shoes and running apparel: machining department finishing department trail running shoes 442 comma 000 hours 10 comma 500 hours running apparel 57 comma 000 hours 40 comma 000 hours how much manufacturing overhead will be allocated to the trail running shoes

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.