The predetermined overhead rate calculation shown in the example above is known as the single predetermined overhead rate or plant-wide overhead rate. This example helps to illustrate the predetermined overhead rate calculation. Departmental overhead rates are needed because different processes ...

Depreciable property can include vehicles, real estate (except land), computers, office equipment, machinery, and heavy equipment. So, if you use an accelerated depreciation method, then sell the property at a profit, the IRS makes an adjustment. They take the amount ...

Staying on top of your bookkeeping is important so that you don’t have unexpected realizations about account balances and expenses. We’ve put together this guide to help you understand the basics of small business bookkeeping. Many state boards of accountancy ...