Answer: 4 containers
Explanation:
The formula used to get the number of containers that are needed will be:
N = DT(1+X)/C
where,
N = total containers
D = planned usage rate used by the work center = 111 parts per hour
T = average waiting time = 100 minutes = 100/60 hours = 1.67 hours
X = inefficiency factor = 0.21
C = capacity of standard container = 5 dozens = 5 × 12 = 60 parts
N = DT(1+X)/C
N = (111 × 1.67)(1 + 0.21)/60
N = (185.37 × 1.21)/60
N = 224.2977/60
N = 3.738
N = 4 approximately
4 containers will be needed
Answer:
Deferred tax asset balance on December 31, 20X3 = $115,500
Explanation:
The computation of the amount of deferred income taxes should Mill report is shown below:
<u>Year Tax purpose Book purpose Difference Deferred tax book
</u>
20X1 $400,000 $0 $400,000 $84,000
20X2 $625,000 $375,000 $250,000 $52,500
20X3 $750,000 $850,000 ($100,000) ($21,000)
Deferred tax asset balance on December 31, 20X3 = $115,500
Answer:
(a) S-Type
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
The different types of tax include the following;
1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.
2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.
3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.
A company with single taxation is called S-Type i.e sole proprietorship.
Basically, a sole proprietorship business is a type of business that is owned by a single person and as such their profits are taxed once as personal income tax.
Answer: the correct answer is $169,000
Explanation: the warranty expenditures during the year is $195,000 minus the increment in the liability account $26,000 equals $169,000.
Answer:
29.71 per machine-hour
Explanation:
Buker corporation has an estimated machine hours of 74,000
The estimated variable manufacturing overhead is 7.67 per-machine hour
The estimated total fixed manufacturing overhead is $1,630,960
The first step is to calculate the estimated overhead cost
= (74,000×7.67) + $1,630,960
= 567,580 + $1,630,960
= $2,198,540
Therefore, the predetermined overhead rate can be calculated as follows
Predetermined Overhead rate= Estimated manufacturing overhead cost/Estimated machine hours allocated
= $2,198,540/74,000
= 29.71 per machine-hour
Hence predetermined overhead rate for the recently completed year was closest to 29.71 per machine-hour
