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Daniel [21]
3 years ago
11

The fact that one department may be labor intensive while another department is machine intensive explains in part why multiple

predetermined overhead rates are often used in larger companies True or False 47:06 True False
Business
1 answer:
cricket20 [7]3 years ago
4 0

Answer:

True

Explanation:

Overhead is the total of indirect cost that is involved in the production of a good. An overhead could be made up of a budgeted cost or actual cost. Overhead is appropriate when it does not exceed 35% of the total revenue.

Because a large company could produce different goods, those goods undergo different process and as result of that, require different costs of production.

For this reason, departmental overhead rates are calculated to ensure that every part of the company has its own production cost and expenses set aside rather than having a general or single company overhead rate which could favor some departments and not favor some other departments.

Cheers.

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Knowledge Check 01 Tune Store reports inventory using the lower of cost and net realizable value (NRV). Information related to i
Alex17521 [72]

Answer:

Ending Inventory = $10,000

Explanation:

Calculating the ending inventory using the lower of cost and net realizable value (NRV):

It means we have to take the inventory cost, which is lower between the original cost and net realizable value. Therefore, for Model A -

Inventory Quantity × Unit Cost (Cost or NRV which is lower) = Total ending inventory cost

100 × $ 100 = $10,000

(We have used the original cost as it is lower than NRV cost)

6 0
3 years ago
Ivan's, Inc., paid $482 in dividends and $586 in interest this past year. Common stock increased by $196 and retained earnings d
Svet_ta [14]

Answer:

$360

Explanation:

We can compute net income to be

The ending balance of retained earnings = Beginning balance of retained earnings + net income - dividend paid.

Where,

Dividend = $482

Change in retained earnings = $122

Hence,

Net income = Dividend - Change in retained earnings

= $482 - $122

Net income = $360

6 0
4 years ago
The following information is from Morris company: Direct materials : $30,000 Wages for production workers: $50,000 Lease, utilit
bixtya [17]

Answer:

Number of units produced during the period: 38,000 units

Explanation:

Cost to produce the product exclude General Selling and administrative Expenses - selling and management expense.

Total Cost to produce the product = Direct materials + Wages for production workers + Lease, utility costs and depreciation for factory workers = $30,000 + $50,000 + $15,000 = $95,000

The average cost to produce one unit: $2,50. Number of units produced during the period = $95,000/$2,50 = 38,000 units

3 0
4 years ago
What app gives you free answers??
White raven [17]

Answer:

Google :)

Explanation:

5 0
4 years ago
Read 2 more answers
Serena is a 40-year-old single taxpayer. She operates a small business on the side as a sole proprietorship. Her 2018 Schedule C
Oliga [24]

Answer:

$5,624

Explanation:

Data provided in the question:

Reported schedule C net profits = $5,624

Health insurance premiums paid = $7,545

Long-term care insurance premiums paid = $600

Now,

The total health care premium

= Health insurance premiums paid + Long-term care insurance premiums paid

= $7,545 + $600

= $8,145

But Serena's health care deduction is limited Reported schedule C net profits

Therefore,

Serena’s self-employed health care deduction will be $5,624

8 0
3 years ago
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