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34kurt
3 years ago
11

​Treasurers, Inc., a manufacturer of gift​ articles, uses a single plantwide rate to allocate indirect costs with machine hours

as the allocation base. Estimated overhead costs for the year are $ 8 comma 000 comma 000. Estimated machine hours are 35 comma 000. During the​ year, the actual machine hours used were 31 comma 000. Calculate the predetermined overhead allocation rate.​ (Round your answer to the nearest​ dollar.)
A) $163
B) $109
C) $280
D) $82
Business
1 answer:
Gekata [30.6K]3 years ago
3 0

Answer:

predetermined overhead allocation rate is $228 per hour

Explanation:

given data

Estimated over head costs = $8,000,000

Estimated machine hours = 35,000

actual machine hours = 31,000

to find out

predetermined overhead allocation rate

solution

we know that predetermined overhead allocation rate is express as

predetermined overhead allocation rate = \frac{estimate overhead cost}{estimate machine hour}

put here value

predetermined overhead allocation rate = \frac{8000000}{35000}

predetermined overhead allocation rate = $228.571

so predetermined overhead allocation rate is $228 per hour

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3 years ago
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A corporate charter specifies that the company may sell up to 32 million shares of stock. The company issues 24 million shares t
vesna_86 [32]

Answer: 15 million shares

Explanation:

From the question, we are given the information that a corporate charter specifies that the company may sell up to 32 million shares of stock and the company issues 24 million shares to investors and later repurchases 9 million shares.

The number of issued shares after these transactions have been accounted for will be the difference between the shares that were issued and the shares that were bought back. This will be:

= 24 million shares - 9 million shares

= 15 million shares

7 0
3 years ago
Does accounts receivable go on the income statement.
Olin [163]

Answer:

no they are balance sheet items

Explanation:

5 0
2 years ago
Abbott Landscaping purchased a tractor at a cost of $32,000 and sold it three years later for $16,000. Abbott recorded depreciat
nadezda [96]

Answer:

Record the sale    

Dr Cash    $16,000  Debit  

Dr Accumulated Depr   $18,000  Debit  

Cr Equipment    $32,000  Credit  

Cr Gain    $2,000  Credit  

DEBIT (Cash + Acc Dep)   $34.000  Debit  

CREDIT (Equip.+Gain)   $34.000  Credit

Explanation:

Equipment    $32.000  Debit  

Equipment Value for Depreciation   $30.000  Because $2,000 is the residual value that does not compute for depreciation  

Accumulated Depr   $18.000  Credit  

The accumulated Depreciation is calculated by dividing the equipment value of $30,000 by 5 years of service life.    

As the equipment only was used 3 years, the accumulated depreciation only reflect $6,000*3 = $18,000    

Record the sale    

Dr Cash    $16.000  Debit  

Dr Accumulated Depr   $18.000  Debit  

Cr Equipment    $32.000  Credit  

Cr Gain    $2.000  Credit  

   

DEBIT (Cash + Acc Dep)   $34.000  Debit  

CREDIT (Equip.+Gain)   $34.000  Credit  

As the residual value of the equipment it's $14,000 ( $32,000 - $18,000) and the sale was by $16,000, it means a gain of $2,000    

3 0
3 years ago
Dunstreet's Department Store would like to develop an inventory ordering policy of a 90 percent probability of not stocking out.
vampirchik [111]

Answer:

344 Sheets

Explanation:

This can be estimated as follows:

D = Demand = 4,100 per year,

d = Daily demand = 4,100/365 = 11.23 sheets

T = Time between orders = four weeks = 28 days

L = Lead time, i.e. time sheets taken to be delivered = 14 days

SDd = Daily demand standard deviation = 3 per day

I = Current Inventory = 160 sheets

P = Service level = 95% (Probability of not stocking out)

From Standard normal distribution, z = 1.64 for 95% Service Level (or 5% Stock out)

SDt + l = SDd * \sqrt{T+L} = 3 * \sqrt{28 +14} = 19.44

Employing the order quantity formula, we have:

Q = Order quantity = D * (T + L) + z * (SDt + l) - I

Substituting for the values, we have:

Q = 11.23 * (28 + 14) + 1.64 * 19.44 - 160

Q = 343.54 = 344 sheets approximately

Therefore, 344 sheets should be ordered.

4 0
3 years ago
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