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dmitriy555 [2]
3 years ago
13

Use the below information to answer the following question.

Business
1 answer:
lianna [129]3 years ago
7 0

Answer:

$2,253.35

Explanation:

external financing needed = EFN = [(total assets/total sales) x ($ Δ sales)] - [(total current liabilities/total sales) x ($ Δ sales)] - [profit margin x forecasted sales in $ x (1 - dividend payout ratio)]

total assets = $48,900

total sales = $42,700

$ Δ sales = $5,978

current liabilities = $3,650

profit margin = net income / sales = 0.129

forecasted sales = $48,678

dividends payout ratio = dividends / net income = 0.35

EFN = [($48,900/$42,700) x ($5,978)] - [($3,650/$42,700) x ($5,978)] - [0.129 x $48,678 x (1 - 0.35)]

EFN = $6,846 - $511 - $4,081.65 = $2,253.35

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Under/over allocation= $6,850 overallocated

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The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 153,000 and estimated factory overhead is $1,208,700.

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