An election to choose among candidates nominated by parties is called a(n) _______

At the beginning of the year, Rangle Company expected to incur $54,000 of overhead costs in producing 6,000 units of product. Th

Flauer [41]

Answer:

Total cost of the units made in January = $35,400

Explanation:

Direct material cost in January = Direct material cost per unit * Units produced in January = $20 * 600 = $12,000

Direct labor cost in January = Direct labor cost per unit * Units produced in January = $30 * 600 = $18,000

Overhead costs in January = (Units produced in January / Expected units for the year) * Expected overhead costs for the year = (600 / 6,000) * $54,000 = $5,400

Therefore, we have:

Total cost of the units made in January = Direct material cost in January + Direct labor cost in January + Overhead costs in January = $12,000 + $18,000 + $5,400 = $35,400

5 0

3 years ago

The capital projects fund of Hood River completed construction of an addition to its city hall at a cost of $4,000,000. The city

Vanyuwa [196]

The capital projects fund account for the 10 percent retainage as (B) II only.

<h3>What is retainage?</h3>

Retainage is a percentage of the agreed-upon contract price withheld until the work is substantially completed to ensure that the contractor or subcontractor will fulfill its responsibilities and complete a construction project.
Retention is money kept back by one party in a contract as security for unfinished or defective work.
Assume the contract is worth $20,000 and you're submitting a paid app after finishing 25% of the work.
So you earned $5,000 during the pay period, but retainage is 5%. The current progress payment has been reduced by $250.
As a result, the "Amount Due for this Request" will be $4,750.

So, in the given situation the capital projects fund account for the 10 percent retainage as (II) the credit for $400,000 to Contracts Payable-Retained Percentage, that is (B) II only.

Therefore, the capital projects fund account for the 10 percent retainage as (B) II only.

Know more about retainage here:

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The correct question is given below:
The capital projects fund of Hood River completed the construction of an addition to its city hall at a cost of $4,000,000. The city council approved payment of the amount due to the general contractor, less a 10 percent retainage. How should the capital projects fund account for the 10 percent retainage?

I. As a credit of $400,000 to Deferred Revenue-Retained Percentage

II. As the credit for $400,000 to Contracts Payable-Retained Percentage.

A. I only

B. II only

C. Either I or II

D. Neither I nor II

3 0

2 years ago

Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates:_____

Lapatulllka [165]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Direct labor-hours required to support estimated production 95,000

Machine-hours required to support estimated production 47,500

Fixed manufacturing overhead cost $ 266,000

Variable manufacturing overhead cost per direct labor-hour $ 2.60

Variable manufacturing overhead cost per machine-hour $ 5.20

Job 550:

Direct materials $ 273

Direct labor cost $ 237

Direct labor-hours 15

Machine-hours 5

1) a. First, we need to calculate the predetermined overhead rate based on direct labor hours:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (266,000/95,000) + 2.6

Predetermined manufacturing overhead rate= $5.4 per direct labor hour

b. Total manufacturing cost= direct material + direct labor + allocated overhead

Total manufacturing cost= 273 + 237 + 5.4*15

Total manufacturing cost= $591

c. Selling price= 591*2= $1,182

2) a.

Predetermined manufacturing overhead rate= (266,000/47,500) + 5.2

Predetermined manufacturing overhead rate= $10.8 per machine hour

b. Total manufacturing cost= direct material + direct labor + allocated overhead

Total manufacturing cost= 273 + 237 + 10.8*5

Total manufacturing cost= $564

c. Selling price= 564*2= $1,128

3 0

3 years ago

Is medical marijuana legal in new jersey?

Scilla [17]

Yes, it is one of 14 states to use medical marijuana

7 0

4 years ago

Read 2 more answers

Inventory records for Marvin Company revealed the following:

Diano4ka-milaya [45]

Answer: $14371.6

Explanation:

Given that,

According to FIFO method,

Marvin sold = 1,900 units of inventory during the month

Cost of Beginning inventory = 990 × $7.25

= $7177.5

on Mar. 10

Cost of Purchase = 570 × $7.73

= $4,406.1

Remaining purchases = Total units sold - Beginning inventory - number of units purchase on mar 10

= 1,900 - 990 - 570

= 340 units

Cost of remaining purchases = 340 units × $8.2

= $2,788

Total cost of goods sold = Cost of Beginning inventory + Cost of Purchase + Cost of remaining purchases

= $7177.5 + $4,406.1 + $2,788

= $14371.6

8 0

4 years ago

An election to choose among candidates nominated by parties is called a(n) ________.