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worty [1.4K]
3 years ago
10

The Laresen Company uses the machine hour method of applying factory overhead to production. The budgeted factory overhead last

year was $200,000, and there were 40,000 machine hours budgeted. Job 84 was started and completed during the period. Direct materials costing $900 were incurred. Twenty-five direct labor hours were worked at a cost of $350, and 40 machine hours were incurred. What was the cost of Job 84?
Business
1 answer:
Pani-rosa [81]3 years ago
6 0

Answer:

Total cost= $1,375

Explanation:

Giving the following information:

The budgeted factory overhead last year was $200,000, and there were 40,000 machine hours budgeted.

Job 84:

Direct materials= $900

direct labor hours= 25

Direct labor cost= $350.

First, we need to calculate the manufacturing overhead rate based on direct labor hours:

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

Estimated manufacturing overhead rate= 200,000/40,000= $5 per direct labor hour

Now, we can calculate the total cost:

Total cost= direct material + direct labor + allocated overhead

Total cost= 900 + 350 + 5*25= $1,375

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3 years ago
Which statement is true of entrepreneurs?
strojnjashka [21]

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3 0
3 years ago
Read 2 more answers
f-1. Assume that no intra-entity inventory or land sales occurred between Placid Lake and Scenic. Instead, on January 1, 2020, S
Margarita [4]

Answer:

Journal 1

Debit : Other Income  $34,000

Credit : Equipment $34,000

Journal 2

Debit : Accumulated depreciation  $6,800

Credit : depreciation $6,800

Explanation:

Step 1 : Eliminate the Income resulting from sale and the additional value of equipment sitting in the buyer books

Income = Selling Price - Carrying Amount

where,

Carrying Amount = Cost - Accumulated depreciation

                             = $84,000

therefore,

Income = $118,000 - $84,000 = $34,000

Journal;

Debit : Other Income  $34,000

Credit : Equipment $34,000

Step 2 : Eliminate the unrealized profit as a result of additional asset value

unrealized profit = income ÷ remaining useful life

                            = $34,000 ÷ 5

                            = $6,800

Journal;

Debit : Accumulated depreciation  $6,800

Credit : depreciation $6,800

7 0
3 years ago
During the 1990s positive technological change in the production of chicken caused the price of chicken to fall. Holding everyth
Marta_Voda [28]

Answer:

The demand for pork would decrease and the equilibrium price of pork would decrease.

Explanation:

Substitute goods are goods that can be consumed in place of each other.

If the price of chicken falls, consumers would increase the quantity demanded of chicken and reduce their demand for pork. The fall in the demand for pork would lead to a leftward shift in the demand curve for pork. A leftward shift in the demand curve while the supply curve remains unchanged would lead to a fall in equilibrium price of pork.

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5 0
3 years ago
Benito's family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of
padilas [110]

Answer:

Total monthly saving = $1,315

Explanation:

Given:

                         Oakland     Los Angeles  

Cost Housing       $565        $1200

Food                     $545        $655

Health Care          $245        $495

Taxes                    $450         $625

Other Necessities $350        $495

Find:

Total monthly saving

Computation:

Saving in house = $1200 - $565 = $635

Saving in food = $655 - $545 = $110

Saving in health care = $495 - $245 = $250

Saving in taxes = $625 - $450 = $175

Saving in necessities = $495 - $350 = $145

Total monthly saving = $635+$110+$250+$175+$145

Total monthly saving = $1,315

7 0
2 years ago
Read 2 more answers
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