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3 years ago

Midwest Corporation has provided the following data concerning manufacturing overhead for 2020:

Business

1 answer:

SSSSS [86.1K]3 years ago

4 0

Answer:

Estimated manufacturing overhead rate= $18 per direct labor hour

Explanation:

Giving the following information:

Estimated manufacturing overhead for the year $ 37,080

Estimated direct labor hours for the year 2,060

To calculate the estimated manufacturing overhead rate we need to use the following formula:

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

Estimated manufacturing overhead rate= 37,080/2,060

Estimated manufacturing overhead rate= $18 per direct labor hour

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Globe Travel Agency sells Spring Break trips to University of Houston undergraduate students. The fixed cost of Globe is $100,00

Usimov [2.4K]

Answer:

the breakeven quantity at current price is 500 units

Explanation:

The computation of the breakeven quantity at current price is shown below:

Breakeven point = Fixed cost ÷ (Price per unit - variable cost per unit)

= $100,000 ÷ ($600 - $400)

= 500 units

Hence, the breakeven quantity at current price is 500 units

We simply used the above formula so that the correct units could arrive

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3 years ago

On January 2, 2020, Pronghorn Company sells production equipment to Fargo Inc. for $52,000. Pronghorn includes a 2-year assuranc

Yanka [14]

Answer:

January 2, 2020

Dr Cash $52,000

Cr Sales Revenue $52,000

December 31, 2020

Dr Warranty expense $890

Cr Cash $890

December 31, 2020

Dr Warranty expense$640

Cr Warranty Liabiltiy $640

Explanation:

Preparation of the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.

January 2, 2020

Dr Cash $52,000

Cr Sales Revenue $52,000

December 31, 2020

Dr Warranty expense $890

Cr Cash $890

December 31, 2020

Dr Warranty expense$640

Cr Warranty Liabiltiy $640

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3 years ago

Scholarships, grants and work-study money all reduce the _____ of higher education.

Allushta [10]

I think the answer is A but i could be wrong

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3 years ago

XYZ Company makes one product and has calculated the following amounts for direct labor: AH x AR = $84,000; AH x SR = $83,000; S

Molodets [167]

Based on the various cost rates and hours for XYZ Company, the labor efficiency variance is $2,000 unfavorable

<h3>What is the labor efficiency variance?</h3>

This can be found as:

= (Actual hours x Standard rate) - (Standard hours x Standard rate)

Solving gives:

= 83,000 - 85,000

= $2,000 unfavorable

Find out more on the labor efficiency variance at brainly.com/question/27404735

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2 years ago

Cash outflows for McKinney Publishing in 2020 included:________. $347,000 in salaries to authors. $180,000 in fees to contracted

Marat540 [252]

Answer: $527,000

Explanation:

Salaries to authors = $347,000

Fees to contracted editors = $180,000

Copyrights obtained = $83,000

Purchase of a new printing warehouse = 1.3 million

Upgrade of current printing equipment = $560,000

McKinney Enterprises expense will be:

= Salaries to authors + Fees to contracted editors

= $347,000 + $180,000

= $527,000

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3 years ago