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agasfer [191]
3 years ago
14

At the beginning of the year, Monroe Company estimates annual overhead costs to be $2,400,000 and that 300,000 machine hours wil

l be operated. Using machine hours as a base, the amount of overhead applied during the year if actual machine hours for the year was 315,000 hours is:_______.
a. $2,400,000.
b. $2,285,714.
c. $1,680,000.
d. $2,520,000.
Business
1 answer:
Andrei [34K]3 years ago
8 0

Answer:

The amount of overhead applied during the year is $2,400,000

Explanation:

In determining overheads amounts to be included in product costing, a company uses Budgeted overheads.

Budgeted overheads are used rather than actual overheads because of the delays that are made to obtain Actual data for Actual overhead amounts which will delay product costing.

Therefore Using machine hours as a base, the amount of overhead applied during the year is $2,400,000

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Because leaders need to devise effective solutions in short time spans with limited information, they need to have
Ghella [55]

1. Because leaders need to devise effective solutions in short time spans with limited information, they need to have cognitive abilities.

2. Trait appraisals are subject to validity problems due to evaluator bias.

Explanation:

Cognitive abilities are knowledge based on the brain, which we need to perform from easy to complex tasks. They are mostly about how they read, recall, resolve issues and pay close attention than about any true knowledge. They were about how they think.

Traits have included the personality, behavior, leadership, work ethics, leadership skills, ethical sense, loyalty, flexibility, and judgment. On either hand, if the trait is legitly related to the work, then it might be valued.A trait is a person's own characteristic.

5 0
3 years ago
Suppose that demand for a product is Q = 1200 − 4P and supply is Q = −240 + 2P. Furthermore, suppose that the marginal external
eimsori [14]

Answer: 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

Explanation:

Q=1200 - 4P and Q=-240 + 2P

In a free market quantity demand =quantity supplied

1200 -4P = -240 +2P

P =240

Sub P

Q* = 240

Socially optimal quantity is

Marginal social benefit (MSC)= marginal social cost(MSC), including external damage =MEC

MPC= marginal private cost =inverse of supply function

MPC = (1/2)*Q + 120

MEC=12

MSC =(MPC +MEC) = (1/2)Q +120 +12

MSC= MPB where MPB is marginal private benefit = inverse of demand functn

MPB = 300 -(1/4)Q

(1/2)Q + 132 =300 - (1/4)Q

Q° = 224

Difference btw Q* & Q° = 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

4 0
3 years ago
Juan buys gas at the gas station. The gas station submits funds for road maintenance. What type of tax is this? (5 points)
prisoha [69]

Answer:

Indirect taxes

Explanation:

Indirect taxes are the taxes levied on transactions as opposed to direct taxes that are imposed on incomes. An indirect tax is added to the prices of goods and services and collected by the seller or retailer. The retailer acts as the tax intermediary and submits the taxes collected to the government.

Examples of Indirect taxes include excise duty tax, value-added tax, and sales tax.  Gas attracts sales tax and road maintenance tax. These taxes increase the price of gas, making them indirect taxes.

6 0
2 years ago
Assume that the total cost of a project is $570,000 and that it is fully depreciable using a straight-line method over 6 years.
Lera25 [3.4K]

Answer:

So the depreciation in year 1 is $95,000

Explanation:

Depreciation is the accounting method that is used to allocate cost of an asset over its useful life. It is assumed that an asset losses values over a period and the salvage or terminal value is the value of the good after its useful life has ended.

Straight line method of depreciation assumes equal allocation of depreciation expense over the useful life of an asset.

In the given the asset value is $570,000 and the terminal value is $0

Using the formula

Depreciation= (Value of asset- Salvage value)/Number of useful years

Depreciation= (570,000-0)/6

Depreciation= $95,000 paid equally for 6 years

So the depreciation in year 1 is $95,000

4 0
3 years ago
Consider the market for pens. Suppose that increased medical concerns over lead pencils have led schools to steer away from penc
LiRa [457]
Answer: False

Explanation:
Being able to determine the effect on price would have to be circumstantial
4 0
3 years ago
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