Exit Assignm Mc
Graw
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Multiple Select Question
Select all that apply
Explain your understanding of what an accrued expense is by selecting the statements below which are correct. (Check all that apply.)
Adjustments involve increasing both an expense and a liability account.
They are reported on an income statement.
Examples of accrued expenses are wages expense and interest expense.
They are also called accounts receivable.
They refer to earnings which have been earned, but not yet billed.
They refer to costs that are incurred in a period, but are both unpaid and unrecorded.
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Salty sensations snacks company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. the company has budgeted the following costs for the upcoming period: 1 factory depreciation $33,782.00 2 indirect labor 84,456.00 3 factory electricity 8,446.00 4 indirect materials 40,356.00 5 selling expenses 26,900.00 6 administrative expenses 17,200.00 7 total costs $211,140.00 factory overhead is allocated to the three products on the basis of processing hours. the products had the following production budget and processing hours per case: budgeted volume (cases) processing hours per case tortilla chips 3,600 0.25 potato chips 5,300 0.11 pretzels 2,300 0.49 total 11,200 required: a. determine the single plantwide factory overhead rate.* b. use the factory overhead rate in (a) to determine the amount of total and per-case factory overhead allocated to each of the three products under generally accepted accounting principles. refer to the amount descriptions list provided for the exact wording of the answer choices for text entries.* * if required, round your answers to the nearest cen