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babymother [125]
3 years ago
14

Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs $62,300 Direct materials used

$25,600 Salary of factory supervisor $37,900 Sales commissions $8900 Heating and lighting costs for factory $22,500 Depreciation on factory equipment $5100 Advertising expense $33,100The company estimates that 2000 direct labor hours will be worked in the upcoming year, while 2200 machine hours will be used during the year. The predetermined manufacturing overhead rate per machine hour is closest to (Round your answer to the nearest whole dollar.)
Business
1 answer:
Olin [163]3 years ago
8 0

Answer:

Estimated manufacturing overhead rate= $30 per machine hour

Explanation:

Giving the following information:

Salary of factory supervisor $37,900

Heating and lighting costs for factory $22,500

Depreciation on factory equipment $5100

Total estimated manufacturing overhead= $65,500

Total amount of allocation base= 2200 machine hours.

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base= 65500/2200= 29.77

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Uncle Fred recently died and left $280,000 to his 45-year-old favorite niece. She immediately spent $80,000 on a town home but d
Marrrta [24]

Answer:

6.06%

Explanation:

The computation of the rate of return is shown below:

Given that

NPER = 20 years

PV = ($280,000 - $80,000) = $200,000

PMT = $0

FV = $75,000 × PVIFA factor at 10% for 21 years

= $75,000 × 8.6487

= $648,652.50

The following formula should be applied

= RATE(NPER;PMT;-PV;FV;TYPE)

The present value comes in negative

After applying the above formula, the rate of return is 6.06%

7 0
3 years ago
According to the diversification-for-stability argument, why should some nations impose protective tariffs and import quotas
Artyom0805 [142]

Their economies are highly specialized and depend on international trade for their income.

<h3>What is  income?</h3>

Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.

Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.

Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.

To know more about  income follow the link:

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5 0
1 year ago
A company pays its employees $3,850 each Friday, which amounts to $770 per day for the five-day workweek that begins on Monday.
liq [111]

Answer:

$3080

Explanation:

Calculation to determine what the amount of salaries earned but unpaid at the end of the accounting period is:

Salaries earned but unpaid at the end of the accounting period =3850-$770

Salaries earned but unpaid at the end of the accounting period =$3080

3 0
3 years ago
Earl and Mary form Crow Corporation. Earl transfers property, basis of $200,000 and value of $1,600,000, for 50 shares in Crow C
barxatty [35]

Answer: The correct answer is "c.Crow will have a business deduction of $120,000 for the value of the services Mary will render.".

Explanation: With respect to the transfers: Crow will have a business deduction of $120,000 for the value of the services Mary will render.

This is calculated by the difference between the value of the property contributed by Earl $1 600 000 and the value of the property contributed by Mary $1 480 000.

1 600 000 - 1 480 000 = $ 120 000.

4 0
3 years ago
Blossom Chemicals Company acquires a delivery truck at a cost of $32,800 on January 1, 2022. The truck is expected to have a sal
kakasveta [241]

Answer:

$16400

$8200

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)  

Depreciation factor = 2/4 = 0.5

Depreciation expense in year 1 = 0.5 x $32,800 = $16,400

Book value at the beginning of year 2 =  $32,800 - $16,400 = $16400

Depreciation expense in year 2 = 0.5 x $16,400= $8200

4 0
2 years ago
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