Answer:
$44,268
Explanation:
Calculation for What is the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours
First step is to calculate the Plant-wide Overhead Rate using this formula
Plant-wide Overhead Rate = Total Overhead / Total Direct Labor Hours
Let plug in the formula
Plant-wide Overhead Rate = $632,400 / 4,800 hours
Plant-wide Overhead Rate = $131.75
Now let calculate the total manufacturing overhead for the current product order
Using this formula
Current product order Total Manufacturing Overhead = Plant-wide Overhead Rate * Direct Labor Hours
Let plug in the formula
Current product order Total Manufacturing overhead= $131.75 *336 hours
Current product order Total Manufacturing overhead= $44,268
Therefore the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours will be $44,268
Answer:
<u>Cash Budget</u>
Explanation:
A cash budget is a summarized presentation of a company's projected future cash receipts and payments. The finance section of such a budget also reveals the borrowing requirements and the mode of finance taking into consideration the repayment schedule and interest payment obligations.
A cash budget is prepared at the last following all other budgets. The budget is prepared with an objective of ascertaining future surplus or cash deficit.
In the given case, the finance manager is concerned of the borrowing requirements for the upcoming period and recognizes the benefit of estimating future cash payments and short term investments. In such case,a cash budget would provide relevant information.
Answer:
debit to Manufacturing Overhead of $65,000
Explanation:
Manufacturing overhead cost are those that are shared to different processes that do not contribute directly to product being manufactured.
For example raw materials is a direct contributor to goods, while labour is a overhead cost that indirectly contributed to the good.
On the given scenario it is the actual amount incurred that will be debited to the books of the company.
So there will be a debit to Manufacturing Overhead of $65,000
Answer:
you would believe that the exact inflation rate will be 4.02% for the next year.
Explanation:
exact inflation rate = (1 + nominal return)/(1 + real return) -1
= 1.138/1.094 -1
= 4.02%
Therefore, you would believe that the exact inflation rate will be 4.02% for the next year.
Answer:
Activities General Ledger accounts
Allocate indirect labor <em>Credit Factory wages payable</em>
Pay factory property tax <em>Debit Factory Overheads</em>
Purchase materials <em>Debit Raw material inventory</em>
Use direct materials <em>Credit Raw material inventory</em>
Complete job <em>Debit Raw material inventory</em>
Deliver job <em>Credit Raw material inventory</em>
<em></em>
