Answer:
Option (b) is correct.
Explanation:
Given that,
Estimated total fixed manufacturing overhead = $121,000
Estimated direct labor-hours for the period = 10,000
Actual total fixed manufacturing overhead = $113,000
Actual total direct labor-hours during the period = 10,900
Predetermined overhead rate:
= Estimated total fixed manufacturing overhead ÷ Estimated direct labor hours
= $121,000 ÷ 10,000
= $12.10
Therefore, the predetermined overhead rate is closest to $12.10.
Answer:
Third step in control function is to take corrective action
Explanation:
Control function is one the important managerial functions where the manager compares actual performance with that of estimated by the management. In case of any deviation, the manager prepares the corrective course of action and communicates the same to the upper management.
The upper management keeps this feedback in mind while formulating goals and objectives in future. Here, Oliver compares actual performance based on number of defective parts set and takes corrective action if actual number of defective parts is more than estimated.
Answer:
d) All current customers who up to a certain point in time have NOT bought in the jewelry category but did buy jewelry in the next time frame
Explanation:
Cross-sell opportunities are employed by online and in-person marketers with the aim of convincing buyers to chose another product from a product category that they are interested in. For example, if the customer bought a necklace, the site might suggest that users who bought a necklace also bought a pendant. The aim of this suggestion is to convince the consumer to purchase an item that might be useful to him judging from the products he just indicated interest in.
Therefore, a good cross-sell model will identify customers who bought jewelry but not from a particular jewelry category.
Answer:
Total overhead = = $7,500
so here correct option is E. $7,500
Explanation:
given data
production = 1,000 units
direct labor = ¼ hour @ $24 per hour
variable overhead = 75 % of direct labor
fixed overhead = $3,000
to find out
total amount of overhead
solution
we first find Direct labor that is
Direct labor = ¼ × 24
Direct labor = $6
so
Total overhead will be here
Total overhead = Variable overhead + Fixed overhead .................1
now put here value we get
Total overhead = ($6 × 75% ) × 1,000 + $3,000
so
Total overhead = = $7,500
so here correct option is E. $7,500
Answer: See attachment and explanation.
Explanation:
a. Determine the components of pension expense that the company would recognize in 2017.
Service cost = $52,000
Add: Interest on projected benefit obligation = $380,000 × 10% = $38,000
Less: Actual return on plan asset = ($11000)
Less: Unexpected loss = 200,000 × 10% - 11,000 = ($9000)
Ammortization of prior service cost = $15000
Pension expense = $85,000
b. The journal entry to record the pension expense and the company’s funding of the pension plan in 2017 has been attached.
c. The amount of the 2017 increase/decrease in gains or losses and the amount to be amortized in 2017 and 2018 has been attached.
d. The pension amounts reported in the financial statement as of December 31, 2017 will be $85,000.
