Canning machines and auto assembly line machinery are examples of special-purpose equipment.

cribb corporation uses direct labor-hours in its predetermined overhead rate. at the beginning of the year, the estimated direct

drek231 [11]

Overhead applied to jobs by Cribb corporation is $12800 with estimated direct labor-hours as 42000 hours and estimated manufacturing overhead as $210000.

<h3>Give a brief account on absorption costing.</h3>

To keep track of all costs associated with creating a certain product, "absorption costing," also known as "full costing," is a managerial accounting technique. This plan includes for all costs, direct and indirect, including rent, insurance, direct materials, and direct labor.

The cost base for absorption costing includes everything that is a direct cost of producing a good. Under absorption costing, fixed overhead costs are also included in the product costs. A few expenses associated to product manufacturing include wages paid to employees who physically make a product, raw materials needed for production, and all overhead costs (such as all power bills spent during production).

To solve the question :

Given,

Estimated direct labor-hours = 42000 hours

Estimated manufacturing overhead = $210000.

Actual Hours Worked = 42800 hours

Actual Overhead = $226800

Budgeted Manufacturing Overhead rate

= total estimated manufacturing overhead / estimated direct labor-hours

= $210000 / 42000 hours

= $ 5 per hr

Actual Hours Worked = 42800 hours

Applied Overhead = Actual Hours Worked / Budgeted Manufacturing Overhead rate

= 42800 hours x $ 5 = $214000

Actual Overhead = $226800

Overhead = Actual overhead - Applied Overhead

= $226800 - $214000

= $12800

Hence, Overhead applied to jobs by Cribb corporation is $12800.

To know more about, absorption costing, visit :

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5 0

1 year ago

The following events occurred for Favata Company:_________

Kipish [7]

Answer:

a.

Cash 16500 Dr

Common Stock 16500 Cr

b.

Cash 13500 Dr

Notes Payable 13500 Cr

c.

Equipment account 1450 Dr

Accounts Payable 1450 Cr

d.

Land 25000 Dr

Cash 2300 Cr

Notes Payable 22700 Cr

e.

Equipment account 9500 Dr

Cash 2300 Cr

Accounts Payable 7200 Cr

Explanation:

a.

The issuance of common stock against cash will increase the cash and the capital. So cash will be debited and capital (common stock) will be credited.

b.

The issuance of notes payable against cash increases liability and asset. The asset increase in cash will be debited and liability increase in notes payable will be credited.

c.

The purchase of equipment on account will increase liability and asset. The asset increase in form of equipment will be debited and the liability increase in form of accounts payable will be credited.

d.

The purchase of land will increase land and result in a debit to the land account. It is purchased for cash and a liability of notes payable. So both cash and the notes payable account will be credited as cash decreases (asset decrease in credited) and liability increases (liability increase is credited).

e.

The purchase of equipment will increase equipment account and result in a debit to the equipment account. It is purchased for cash and a liability of accounts payable. So both cash and the accounts payable account will be credited as cash decreases (asset decrease in credited) and liability increases (liability increase is credited).

5 0

3 years ago

One problem in the interstate trucking industry is the number of trucks that return after making a delivery with an empty truck.

garik1379 [7]

Answer: Yield management pricing

Explanation It can be defined as the strategy in which the company studies and influence consumer behavior with the intent of maximizing profit with the limited amount of resources available.

In the given case, the truckers have limited time and they are getting extra revenue from the website. This will result in maximization of their profit.

Thus, from the above we can conclude that the right answer is option E.

5 0

4 years ago

You are the operations manager for an airline and you are considering a higher fare level for passengers in aisle seats. how man

hram777 [196]

Recall that margin of error is given by:

$M=z_{\alpha/2}\sqrt{ \frac{p(1-p)}{n}} \\ \\ \Rightarrow\frac{M^2}{\left(z_{\alpha/2}\right)^2}= \frac{p(1-p)}{n} \\ \\ \Rightarrow n= \frac{\left(z_{\alpha/2}\right)^2p(1-p)}{M^2}$

Given that <span>you want to be 95% confident that the sample percentage is within 2.5 percentage points of the true population percentage.

This means that $z_{\alpha/2}=1.96$ and M = 2.5% = 0.025.

Part A:

When nothing is known about the percentage of persengers who prefer aisle seat, we make use of p = 50% = 0.5.

Thus,

$n=\frac{1.96^2\times0.5\times0.5}{(0.025)^2}= \frac{0.9604}{0.000625} =1,537$

Therefore, 1,537 </span><span>randomly selected air passengers must be surveyed to </span><span>be 95% confident that the sample percentage is within 2.5 percentage points of the true population percentage.

Part B:

Given that recent surveys surgest that about 38% of all air passengers</span> prefer an aisle seat, thus p = 38% = 0.38

<span>Thus,

$n=\frac{1.96^2\times0.38\times0.62}{(0.025)^2}= \frac{0.9051}{0.000625} =1,449$

Therefore, 1,449 </span>randomly selected air passengers must be surveyed to <span>be 95% confident that the sample percentage is within 2.5 percentage points of the true population percentage.</span>

6 0

3 years ago

Select the correct answer. what benefit does a 401(k) plan provide over an ira? a. a higher rate of return b. fewer investment o

Artyom0805 [142]

The main benefit that a 401(K) provides for a person over an IRA is that of e. <u>Employer's contribution. </u>

<h3>What separates an IRA from a 401(K)?</h3>

An Individual Retirement Account (IRA) by definition is a pension investment vehicle that is funded by the person who uses it to save for their retirement.

401(K)s on the other hand, have the benefit of being contributed to by employers. This allows for higher amounts to be invested, and lower amounts to be used for investing by the person who owns the 401(K).

Find out more on types of Individual Retirement Accounts (IRA) at brainly.com/question/13032524.

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8 0

2 years ago