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ICE Princess25 [194]
3 years ago
15

At the beginning of the year, Ilberg Company estimated the following costs: Overhead $416,000 Direct labor cost 520,000 Ilberg u

ses normal costing and applies overhead on the basis of direct labor cost. (Direct labor cost is equal to total direct labor hours worked multiplied by the wage rate.) For the month of December, direct labor cost was $43,700.
Calculate the predetermined overhead rate for the year. Enter the percentage as a whole number.______%of direct labor cost

Calculate the overhead applied to production in December.
Business
1 answer:
katrin [286]3 years ago
4 0

Answer:

Predetermined overhead rate = $0.8 per hour

Overhead applied in December = $34,960

Explanation:

Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hours

Predetermined overhead rate = $416,000 / 520,000 hours

Predetermined overhead rate = $0.8 per hour

(as Direct labor cost is equal to total direct labor hours worked multiplied by the wage rate.)

Actual Labor hour = 43,700

Overhead applied in December = 43,700 hours x $0.8 = $34,960

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An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017 I
SSSSS [86.1K]

Answer:

<u>cost of goods manufactured schedule</u>

Raw Materials ($9,180 + $55,020 - $17,480)          $46,720

Direct Labor                                                               $51,740

Manufacturing overheads :

indirect labor                                                               $6,510

factory insurance                                                       $4,700

machinery depreciation                                            $4,380

machinery repairs                                                       $1,990

factory utilities                                                            $3,740

miscellaneous factory costs                                       $1,980

Add Opening Work In Process                                 $5,670

Less Closing Work In Process                                  ($7,610)

Cost of goods manufactured                                 $119,800

Explanation:

Cost of goods manufactured schedule shows a summary of results (cost) obtained  from manufacturing activity during the production period.

7 0
3 years ago
Recently, Pfizer and Allergan – the makers of Viagra and Botox, respectively – initiated a $160 billion merger. Pharmaceutical c
Lilit [14]

Answer:

Lerner index for Botox = 0.9

Explanation:

The Lerner index measures market power in an industry. The formula for calculating the Lerner index is: L = (P - MC) / P

Lerner index for Botox = ($15 - $1.50) / $15 = 0.9

0.9 in the Lerner index means that a company has a very large market power. Under this situation, this is quite logical since Allergen has a monopoly on Botox, at least until the patent expires.

The Lerner index varies between 0 and 1, with 0 being a situation of perfect competition and 1 a monopolistic situation.

3 0
3 years ago
Consumption spending is $4.5 billion, gross private domestic investment is $3 billion, and government expenditures are $2 billio
masha68 [24]

Answer:

exports are $15 billion, and imports are $10.5 billion

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP = Consumption + Investment spending + Government Spending + Net Export

14 billion = 4.5 billion + $3 billion + $2 billion + Net Export

Net Export = $4.5 billion

Net Export = export - import

Net Export is positive so it indicates that exports is greater than imports.

Going through the options, it is only option d that is equal to 4.5 and the export is greater than the import.

I hope my answer helps you

7 0
3 years ago
Which of the following phrases effectively describes a business’s income statement
irina [24]

Answer:

Financial picture

Explanation:

The phrases is suitable because An income statement will give a general picture for stakeholders regarding the company's financial condition in the past year.

it consist of several important financial information that might influence investors to either  put their money into the businesses or simply abandoned it. Such as how much income that the company able to generate, the amount of expenses that the company have to pay for the operation, how much of the income is liquid, etc.

3 0
3 years ago
Someone help me. i have no clue oml
Zielflug [23.3K]

Answer:

Get a dice and roll it.

Explanation:

8 0
3 years ago
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