Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The chief cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $3,000,000 and total direct labor costs would be $2,400,000. During May, the actual direct labor cost totaled $198,400 and factory overhead cost incurred totaled $253,200. Required:
a. What is the predetermined factory overhead rate based on direct labor cost?
b. Journalize the entry to apply factory overhead to production for May 31.
c. What is the May 31 balance of the account Factory Overhead-Blending Department?
d. Does the balance in part (c) represent over- or underapplied factory overhead?

Neveready flashlights inc. needs $317,000 to take a cash discount of 3/15, net 70. a banker will loan the money for 55 days at an interest cost of $13,200. a. what is the effective rate on the bank loan? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) b. how much would it cost (in percentage terms) if the firm did not take the cash discount but paid the bill in 70 days instead of 15 days? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) c. should the firm borrow the money to take the discount? no yes d. if the banker requires a 20 percent compensating balance, how much must the firm borrow to end up with the $317,000? e-1. what would be the effective interest rate in part d if the interest charge for 55 days were $7,200?

Match each item to check for while reconciling a bank account with the document to which it relates.(there's not just one answer)1. balancing account statement2. balancing check registera. nsf feesb. deposits in transitc. interest earnedd. bank errors

True or false: a fitted model with more predictors will necessarily have a lower training set error than a model with fewer predictors.