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sdas [7]
3 years ago
5

The receiving department has three activities: unloading, counting goods, and inspecting. Unloading uses a forklift that is leas

ed for $15,000 per year. The forklift is used only for unloading. The fuel for the forklift is $3,600 per year. Other operating costs (maintenance) for the forklift total $1,500 per year. Inspection uses some special testing equipment that has depreciation of $1,200 per year and an operating cost of $750. Receiving has three employees who have an average salary of $50,000 per year. The work distribution matrix for the receiving personnel is as follows:
Activity Percentage of Time on Each Activity
Unloading 40%
Counting 25
Inspecting 35
No other resources are used for these activities.
Required:
Calculate the cost of each activity.
Unloading $
Counting $
Inspecting $
Business
1 answer:
stepladder [879]3 years ago
6 0

Answer:

Calculating the cost of each activity,

Unloading = $ 80,100

Counting = $ 37,500

Inspecting = $54,450

Explanation:

Given:

Unloading lease = $15,000 per year

Fuel for the forklift = $3,600 per year

Maintenance for the forklift = $1,500 per year

Inspection uses some special testing equipment that has depreciation of $1,200 per year

Operating cost = $750.

Receiving employees average salary = $50,000 per year

Salaries; 3 × 50,000 = 150,000

Unloading salary = 40%  × 150,000 = 60,000

Counting salary = 25%  × 150,000 = 37,500

Inspecting salary = 35% × 150,000 = 52,500

                              Unloading                 Counting                    Inspection

Equipment               15,000                                                             1,200

Fuel                           3,600

Operation cost          1,500                                                                750

Labor                       60,000                   37,500                          52,500

Total cost                 80,100                   37,500                          54,450

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On December 31, 2021, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor busin
Hunter-Best [27]

Answer and Explanation:

The preparation of the lower portion is presented below:

Income from the continuing operation

before income tax                   $7,800,000

Less: Income tax expenses ($7,800,000 × 25%) (1,950,000)

Income from continuing operation(A) 5,850,000

Discontinued operation:  

Loss from operation discontinued components

($15 - $13 - $4.8) ($2,800,000)

Income tax benefits ($2,800,000 × 25%)  $700,000

Loss on discontinued operation(B) ($21,000,000)

Net loss (A - B) -$15,150,000

7 0
3 years ago
Schneider, Inc., had the following information relating to Year 1: Budgeted factory overhead: $74,800 Actual factory overhead: $
astraxan [27]

Answer:

<u>The actual direct labor hours are 45,000.</u>

<u>The overhead rate for Year 2 is $1.74.</u>

Explanation:

Compute the actual direct labor hours:

\begin{aligned}\text{Actual direct labor hours}&=\dfrac{\text{Applied overheads}}{\text{Overhead rate}}\\&=\dfrac{\$76,500}{1.7}\\&=45,000\end{aligned}

<u>Therefore, the actual direct labor hours are 45,000.</u>

Compute the overhead rate for Year 2:

\begin{aligned}\text{Overhead rate}&=\dfrac{\text{Actual overheads}}{\text{Actual direct labor hours}}\\&=\dfrac{\$78,300}{45,000}\\&=1.74\end{aligned}

<u>Therefore, the overhead rate for Year 2 is $1.74.</u>

<u />

Working note:

Calculate the overhead rate for Year 1:

\begin{aligned}\text{Overhead rate}&=\dfrac{\text{Budgeted overheads}}{\text{Estimated direct labor hours}}\\&=\dfrac{\$74,800}{44,000}\\&=1.7\end{aligned}

7 0
3 years ago
Bonita Corporation had net sales of $2,409,200 and interest revenue of $38,100 during 2020. Expenses for 2020 were cost of goods
____ [38]

Answer:

net income: $ 451,010

EPS:             $           6.32 per share

Explanation:

net sales                   2,409,200

cost of good sold     (1,464,600)

gross profit:                  944,600

operating expenses:

selling expenses         (284,000)

operating income         660,600

non operating:

interest revenue              38,100

interest expense           (54,400)

non operating expense (16,300)

earning before taxes:     644,300

tax expense:  30%          193,260

net income                      451,010

shares outstanding          71,390

Earning per share: 451,010/71,390 = 6,31755

4 0
3 years ago
Which one of the following intermediaries typically take title to the products they​ distribute? A. Merchant wholesalers B. ​Man
kkurt [141]

Answer:

Option "A" is the correct answer to the following question.

Explanation:

Merchant wholesalers:

Merchant wholesaler is an individual or enterprise or firm of a wholesale company that holds ownership of the products it manages.

Trader suppliers are also the biggest single category of wholesalers and account for approximately 50% of all merchandise

They are an Important Part of the product supply chain.

5 0
3 years ago
Please hep me solve this thank you!Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out a
jarptica [38.1K]

Answer:

$546,750

Explanation:

Sales                  2,498,000

COGS                (1,376,000)

gross profit        1,  112,000

S&A salaries        (219,000)

other S&A           (346,000)

underapplied MO  (10,250) *

net income           536.750‬

*we need to compare the actual voerhead with the applied overhead:

<u>actual overhead:</u> 176,000 + 420,000 = 596,000

<u>applied overhead:</u>

overhead rate:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

568,000 / 32,000 = 17.75

33,000 x 17.75 = 585.750

      overhead

<u>debit              credit</u>

596,000    585,750

                    10,250 underapplied overhead

As the applied was lower it is underapplied we need to recognzie more cot thus, the net income decrease.

4 0
3 years ago
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