Answer:
7.7 per direct labor hour
Explanation:
Number of direct labor hours = 700,000 / 25
Number of direct labor hours = 28,000 labor hours
Overhead cost = Shop and repair equipment depreciation + Shop supervisor salaries + Shop property taxes + Shop supplies
Overhead cost = 46,100 + 128,300 + 23,300 + 17,900
Overhead cost = 215,600
Predetermined overhead rate = Overhead cost/Direct labor hours
= 215,600 / 28,000 labor hours
= 7.7 per direct labor hour
Answer:
Explanation:
1st strategy : Selling pound forward
The spot rate of the pound is quoted at $1.51.
The one-year forward rate exhibits a 2.65% premium.
The one-year forward rate = 1.51 ( 1+ 0.0265)
= $ 1.55
Dollars received = 100000 * 1.55 = $155000
2nd strategy : Buying put option
The strike price of put = $1.54
premium on option is $.03
Amount received per option = $ 1.54 - $ 0.03 =$1.51
Total Dollars received = 100000* 1.51 = $ 151000
the best possible hedging strategy is Selling pound forward and receiving $155000
Answer:
Software solutions was hired to install and update software.
When job was completed,
Total revenue paid by Jones company = $1,800
As of December 31,
software installation completed = 1/2
Service revenue = 0.5 × $1,800
= $900
Therefore, the adjusted journal entry for the revenue is as follows:
On 31st December,
Accounts receivable A/c Dr. $900
To Service revenue $900
(To record revenue earned)
Answer: $2650
Explanation:
Using the specific identification method, its ending inventory (after the December 24 sale) will be:
Units for sale = 5 units
Units sold = 1
It should be noted that the unit that was sold was the one that was bought on July 9th.
Ending units will now be:
= $800 + ($2 × $900) + $950 - $900
= $800 + $1800 + $950 - $900
= $3550 - $900
= $2650