After examining the records of Theta Company for the month of October, the following information is obtained: Beginning cash balance $2,700 Cash receipts 56,000 Cash payments 36,000 Minimum cash balance 1,000 Loan repayments 10,000 Based on the given information, calculate Theta's cash surplus (deficiency) for the month of October.

the surplus of the cash is $21,000

Explanation:

The computation of the cash surplus (deficiency) for the month of October is given below:

Cash surplus is

= opening balance + cash receipt - cash payment - minimum cash balance

= $2,700 + $56,000 - $36,000 - $1,000

= $21,000

hence, the surplus of the cash is $21,000

Manufacturing overhead allocated= $1,260,000

Explanation:

Giving the following information:

Scaled Manufacturing estimates annual overhead costs to be $1,200,000 and that 300,000 machine hours will be operated. Using machine hours as a base.

The actual machine hours for the year were 315,000 hours.

We need to find the overhead applied. First, we need to determine the overhead rate.

Overhead rate= total estimated overhead for the period/ total amount of allocation base

Overhead rate= 1200000/300000= $4 per hour

Manufacturing overhead allocated= 315000 hours* 4= $1,260,000