Jernigan Company estimates that total factory overhead costs will be $170,000 for the year. Direct labor hours are estimated to be 10,000. a. For Jernigan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. $fill in the blank 41362005803cfe6_1 per direct labor hour b. During August, Jernigan Company accumulated 570 hours of direct labor costs on Job 40 and 840 hours on Job 42. Determine the amount of factory overhead applied to Jobs 40 and 42 in August. $fill in the blank 41362005803cfe6_2 c. Prepare the journal entry to apply factory overhead to both jobs in August according to the predetermined overhead rate.

Which statement describes a monopoly? many firms produce identical products with no control over the market price. many firms produce differentiated products with control over market price. a single firm produces a product with no close substitutes and control over the market price. a single firm produces a product with many close substitutes and limited control over the market price.

About time delivery co. incurred the following costs related to trucks and vans used in operating its delivery service: classify each of the costs as a capital expenditure or a revenue expenditure. 1. changed the oil and greased the joints of all the trucks and vans. 2. changed the radiator fluid on a truck that had been in service for the past four years. 3. installed a hydraulic lift to a van. 4. installed security systems on four of the newer trucks. 5. overhaul the engine on one of the trucks purchased three years ago. 6. rebuilt the transmission on one of the vans that had been driven 40,000 miles. the van was no longer under warranty. 7. removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication. 8. repaired a flat tire on one of the vans. 9. replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. tinted the back and side windows of one of the vans to discourage theft of contents.

The retained earnings account has a credit balance of $24,650 before closing entries are made. if total revenues for the period are $77,700, total expenses are $56,900, and dividends are $13,050, what is the ending balance in the retained earnings account after all closing entries are made?