Answer:
Predetermined manufacturing overhead rate= $2.15 per direct labor hour
Explanation:
Giving the following information:
It takes 80,900 direct labor hours to manufacture the X-1 and 93,500 direct labor hours to manufacture the X-2 Line.
Total overhead= 225,000 + 149,960= $374,960
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 374,960 / (80,900 + 93,500)
Predetermined manufacturing overhead rate= $2.15 per direct labor hour
Answer: c. trading securities.
Explanation:
Trading securities are short term debt securities that a company buys in order to make a profit in that short term period. They actively manage and trade these securities and then trade them for profit.
It is an excellent way to gain return for any excess cash that the business has and they only invest in such things when they believe that there is a good chance of profit being made.
Answer:
In the question, we are not given information with respect to sales costs, so we can only find total gross sales:
Sales Budget fist 2 quarters of the year
Product Sales Price Sales Q1 Sales Q2 Total gross sales
XQ-103 $14 22,590 27,710 $704,200
XQ-104 $27 14,880 16,200 $839,160
$1,53,360
Answer:
A) Debit cash, credit accounts receivable
Explanation:
As the statement said, Zoono electronics made a payment which means they are debiting cash amount of $3,500 to imperial distributor who is a supplier. So the best statement that best describes the recording of this financial transaction by imperial distributor is their account receivable has been credited and cash is debited. All the other options are wrong except this.
Answer:
The correct answer for option (a) is $1.15 and for option (b) is $1.33.
Explanation:
According to the scenario, the given data are as follows:
Present value (PV) = $1
Rate of interest (R) = 1.18% per month
Time period (for option a) (t1)= 12 months
Time period ( for option b) (t2)= 24 months
So, we can calculate the future value by using following formula:
FV = PV × ( 1 + R )^t
(a). By putting value in the formula:
FV = $1 ( 1 + 0.0118)^12
= $1 × 1.1511610877
= $1.15
FV = PV × ( 1 + R )^t
(b). By putting value in the formula:
FV = $1 ( 1 + 0.0118)^24
= $1 × 1.32517184983
= $1.33
