Answer: See explanation
Explanation:
a. Calculate the predetermined overhead rate Overhead Rate per hour
Predetermined Overhead rate will be the estimated total manufacturing overhead divided by the estimated total direct labor hours. This will be:
= $ 921,600/51,200
= $ 18
(b) Calculate how much manufacturing overhead will be applied to production
Manufacturing overhead that'll be applied to production will be the predetermined overhead rate multiplied by the actual total direct labor hours. This will be:
= $ 18 × 48,900 direct labor hours
= $ 880,200
(c) Is overhead over- or underapplied? By how much?
The Actual Overhead Incurred = $902,900 while the manufacturing overhead applied = $880,200. This shows that overhead is underapplied due to the fact that manufacturing overhead applied is less than the actual overhead that is incurred.
Therefore, the amount of overhead that was underapplied will be:
= $ 902,900 - $ 880,200
= $ 22,700
(d) What account should be adjusted for over-or underapplied overhead? Should the balance be increased or decreased?
Based on the scenario in the question and the answers calculated, the cost of goods sold should be increased.
Answer:
Under the UPA ( uniform partnership act ) the partners share the profits of the business according to their contributions towards the business ( mostly financial contribution)
The UPA is used to address the issues of profit and loss sharing in a business partnership based on financial contribution towards the business and not based on service rendered to the business hence it won't work in this situation
Explanation:
Under the UPA ( uniform partnership act ) the partners share the profits of the business according to their contributions towards the business ( mostly financial contribution), the primary purpose of the uniform partnership act to to address certain in-formal or formal issue that was not addressed under the business agreement reached between the partners,
The reason why the UPA might not govern the sharing of the profits is because of the involvement of a partner who did not contribute towards the capital but contributes in terms of service. The UPA is used to address the issues of profit and loss sharing in a business partnership based on financial contribution towards the business and not based on service rendered to the business hence it won't work in this situation
Answer:
Contracts required in writing
Explanation:
Contracts that required to be in writing to be enforceable. These contracts are never orally agreed and there is no value of such oral contracts. The contact and promise made by executor to pay debt, promises in consideration of marriage, Sale of goods priced $500 or more should be in writing.
Answer:
$7.20
Explanation:
Units % Mat. EUP- Mat. % Conv. EUP- Conv.
Units completed & 6000 100% 6000 100% 6000
transferred out
Units in ending inventory 2000 100% 2000 30% 600
Equivalent units of production 8000 6600
Cost per Equivalent Unit of Production
Materials Conversion Total
Beginning costs - - -
During the month costs <u>$20,800 </u> <u>$30,360</u>
Total cost $20,800 $30,360
÷ Equivalent units of production <u> 8.000</u> <u> 6,600</u>
Cost per equivalent unit $2.60 $4.60 $7.20
of production
Answer:
The correct option is B: Gap 2
Explanation:
The gaps model of service quality, which is also referred to as the 5 gaps model is a vital framework used by organization to ensure customer satisfaction. The Gap 2 model is normally between the perception of the management and what the actual experience of the customer is. In the Gap 2, managers always ensure that organization are delivering and defining the level of quality service they need. From the question Fedex is dealing with actual customer-defined performance standards and this indicates that they are a closing provider of the gap 2 of the gaps model of service quality.
