Solve for the Unknown Item for Each of the Following

question 71

Short Answer

Solve for the unknown item for each of the following independent situations.
$\begin{array}{llll}&\text { CASE A } & \text { CASE B } & \text { CASE C }\\\text { Total assets } & \text { A } & 400 & 600 \\\text { Contributed capital } & 100 & 150 & \text { C } \\\text { Total revenues } & 400 & 300 & 400 \\\text { Total liabilities } & 600 & \text { B } & 250 \\\text { Beginning retained earnings } & (50) & 100 & 100 \\\text { Total expenses } & 250 & 350 & 200 \\\text { Dividends } & 0 & 50 & 0\end{array}$

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Definitions:

Annual Overhead Costs

The total expenses not directly tied to a product or service's production, incurred over a year, such as rent, utilities, and insurance.

Activity Base

A measure used in cost accounting to assign costs to various activities, often driving the allocation of overhead.

Overhead Application

The process of allocating indirect costs to specific cost objects, such as products or departments.