Hibshman corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. at the beginning of the most recently completed year, the company estimated the machine-hours for the upcoming year at 10,000 machine-hours. the estimated variable manufacturing overhead was $6.82 per machine-hour and the estimated total fixed manufacturing overhead was $230,200. the predetermined overhead rate for the recently completed year was closest to: a) $23.15 per machine-hour b) $6.82 per machine-hour c) $29.84 per machine-hour d) $23.02 per machine-hour

At april 1, 2019, the food and drug administration is in the process of investigating allegations of false marketing claims by hulkly muscle supplements. the fda has not yet proposed a penalty assessment. hulkly’s fiscal year ends on december 31, 2018. the company’s financial statements are issued in april 2019. required: for each of the following scenarios, determine the appropriate way to report the situation. 1. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 2. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is probable. 3. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 4. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is probable.