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oksano4ka [1.4K]
3 years ago
14

Exercise 2-10 Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct lab

or cost. Job V, which was started and completed during the current period, shows charges of $6,700 for direct materials, $9,200 for direct labor, and $6,348 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,700 for direct materials and $4,700 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end
Business
1 answer:
Shkiper50 [21]3 years ago
6 0

Answer: Yes. The amount of $‭3,243‬ should be applied to Job W as overhead at year-end.

Explanation:

There should be overhead costs applied in Job W at year-end and this cost will be based on a predetermined overhead rate.

The Predetermined overhead rate can be calculated by dividing total estimated overhead cost by total estimated direct labor cost and is used to allocate manufacturing overhead for a period to products and other cost objects.

Predetermined rate using Job V = 6,348/9,200

= 69%

Overhead cost for Job W = Predetermined rate * Labor cost

= 69% * 4,700

= $‭3,243‬

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<em>If there is a major problem in a country that leads to the rapid withdrawal of foreign investment, this is known as​ International financial crisis </em>

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3 years ago
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On
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Answer:

The correct answer is C

Explanation:

The amount of cash paid on July 8 is computed as:

Amount of goods worth = Purchased amount - Returned goods worth  Amount of goods worth = $1,800 - $200

Amount of goods worth  = $1,600

As the amount is paid within the terms of 10 days, so the amount is eligible for the discount of 2%, it is as:

Amount to be paid in cash = Amounts of goods worth - ( Amounts of goods worth × Discount)

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8 0
3 years ago
If actual overhead is greater than applied manufacturing overhead, then manufacturing overhead is: Select one:
raketka [301]

Answer:

a. under applied.

Explanation:

For computing, whether it is under applied or over applied first, we have to compute the predetermined overhead rate. The formula is shown below:

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

Now we have to find the applied overhead which equal to

= Actual direct labor-hours × predetermined overhead rate

So, the ending overhead equals to

= Actual manufacturing overhead - applied overhead

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If actual overhead is more than the applied overhead

3 0
3 years ago
A fixed-income security pays Group of answer choices a variable level of income for owners on a fixed income. a fixed level of i
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Answer:

C. A fixed stream of income or a stream of income that is determined according to a specified formula for the life of the security

Explanation:

A fixed income security is a type of investment that provides returns  in  form of  regular, or fixed, interest payments and repayments of the principals when the security reaches maturity.  

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7 0
3 years ago
Clara and Melissa work together at a day care center. They differ in the way they look at things and the way they approach work.
Anika [276]

Answer:

a description of her needs or feelings, for example, Clara can tell Melissa, "We're having the meeting for new parents this Friday and our presentation is still not ready. I need you to put in more time and effort so that we have the presentation ready on time. Right now, I'm feeling pressured and burdened because I seem to be doing all the work, yet you give Simon the impression that we worked together on it. I don't think that it is fair.’’

a description of the situation that resulted in the needs or feelings, for example, Clara can tell Melissa, "Last week I spent a lot of time reading all the information we have in our files about the new children and their parents so that we could create a presentation that is specifically suited to their needs. You did not contribute to this at all, but you gave Simon the impression that we worked on this together."

the consequences of the situation you are facing, for example, Clara can tell Melissa, "I enjoy working with you Melissa; I think you are a lot of fun and have many bright ideas. However, if I have to put in all the effort and you just take the credit, I will have to speak to Simon about it.

Explanation:

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7 0
3 years ago
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