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Taya2010 [7]
3 years ago
8

Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direc

t labor costs. The company incurred the following costs during 2017: direct materials costs, $760,000; direct labor costs, $4,100,000; and factory overhead costs applied, $2,460,000. 1. Determine the company’s predetermined overhead rate for 2017. 2. Assuming that the company’s $82,000 ending Work in Process Inventory account for 2017 had $31,000 of direct labor costs, determine the inventory’s direct materials costs. 3. Assuming that the company’s $600,000 ending Finished Goods Inventory account for 2017 had $338,000 of direct materials costs, determine the inventory’s direct labor costs and its overhead costs.
Business
1 answer:
Nostrana [21]3 years ago
3 0

Answer:

Requirement 1 - Predetermined Overhead Rate is $0.60 per direct labor cost

Explanation:

Requirement 1 - Predetermined Overhead Rate

Predetermined Overhead Rate = Budgeted Overheads / Budgeted Activity

In our senario we use the formular:

Factory overheads Applied = Predetermined Overhead Rate × Actual Activity

therefore, Predetermined Overhead Rate = Factory overheads Applied / Actual Activity

<em>Note : Moonrise Bakery applies factory overhead based on direct labor costs</em>

Predetermined Overhead Rate  = $2,460,000/$4,100,000

                                                      = $0.60 per direct labor cost

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Answer: $480

Explanation:

The net cash inflow from operating activities on Packard's statement of cash flows for Year 2 will be calculated thus:

Revenue earned = $1000

Less : Expenses paid = ($520)

Operating cashflow = $480 inflow

The net cash inflow from operating activities on Packard's statement of cash flows for Year 2 will be $480.

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A client with a skin infection reports an itching sensation associated with pain at the site of infection. The assessment findin
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This patient could possible have <em>Tinea Pedis</em>

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3 years ago
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Ortega Industries manufactures 19,900 components per year. The manufacturing cost of the components was determined to be as foll
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Answer: Increased profit as opposed to making them internally.

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Make decision

$

Direct materials 178,000

Direct Labor. 380,000

Variable overhead. 104,000

Relevant fixed overhead 260,000

Total $922,000

Unit price for make=922000/19900

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Since buying outside is more cheaper than producing internally, it will be more profitable to outsource(buy).

6 0
3 years ago
Why might you choose an investment with high risk instead of one with low risk?
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8 0
2 years ago
Orioles Company bought Special Products Division in 2017 and appropriately recorded $741,000 of goodwill related to the purchase
goldfiish [28.3K]

Answer:

No goodwill impairment should be recognized by Orioles in 2018

Explanation:

Data provided in the question:

Goodwill related to the purchase = $741,000

Fair value of Special Products Division = $5,600,000

Goodwill existing on December 31, 2018 = $595,000

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3 years ago
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