Answer and Explanation:
1. The computation of the predetermined overhead rate is shown below:
= Overhead applied ÷ direct material cost
= $846,000 ÷ $1,800,000
= 47%
2. The direct labor and overhead cost assigned to the job is shown below:
Total cost $89,000
Less: direct material cost $32,000
Less: overhead cost $15,040 ($32,000 × 0.47)
Direct labor cost $41,960
Statistical Quality Control<span> is the process managers use to continually monitor all phases of the production process to ensure that quality is being built into the product from the beginning and that quality is not being inspected into the product at the end of the production process.
All products go through a quality control procedure to make sure their products meet industry and company standards. Organizations do this to ensure they are putting out the smallest amount of defects as possible when creating items to sell to wholesalers or consumers. </span>
Answer:
a) $393.65
b) $458.11
c) $217.63
Explanation:
Given data:
16-year ( n )
$1000 par value ( FV )
6% ( R )
A) determine the initial price of the bond
= FV / ( 1 + R ) ^ n
= 1000 / ( 1.06 ) ^ 16
= 1000 / 2.5403 = $393.65
B ) when interest rate drops to 5% determine the value of the zero-coupon rate of bond
= FV / ( 1 + R ) ^n
= 1000 / ( 1.05 ) ^ 16
= 1000 / 2.1829 = $458.11
C ) when interest rate increases to 10% determine the value of the zero-coupon rate of bond
= Fv / ( 1 + R ) ^ n
= 1000 / ( 1.1 ) ^ 16
= 1000 / 4.5950 = $217.63
Financial statements include Income statement, Statement of Owner’s Equity, Balance sheet and Cash flow statement. Statement of Owner’s Equity and Balance sheet are prepared at a particular date at the end of the financial year or period.
Hence, A calendar year reporting company preparing its annual financial statements should use the phrase "at December 31, 2016" in the heading of Statement of Owner’s Equity and Balance sheet.
