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Alex_Xolod [135]
3 years ago
8

For​ 2018, Rest-Well Bedding uses​ machine-hours as the only overhead​ cost-allocation base. The direct cost rate is​ $6.00 per

unit. The selling price of the product is​ $21.00. The estimated manufacturing overhead costs are​ $275,000 and estimated​ 40,000 machine hours. The actual manufacturing overhead costs are​ $350,000 and actual machine hours are​ 50,000. Using job​ costing, the 2018 actual​ indirect-cost rate is​ ________.
Business
1 answer:
maria [59]3 years ago
3 0

Answer:

Predetermined manufacturing overhead rate= $6.875 per machine-hour

Explanation:

Giving the following information:

The estimated manufacturing overhead costs are​ $275,000 and an estimated​ 40,000 machine hours.

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= 275,000/40,000

Predetermined manufacturing overhead rate= $6.875 per machine-hour

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In the actual economy, goods and services are purchased byA. households, but not firms or the government. B. households and the
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Answer:

C. households, firms, and the government.

Explanation:

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Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that
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Answer:

Explanation:

Beginning WIP inventory                    74000  

Add: Units started during May           390000  

Less: Ending inventory                        34000  

Units completed and transferred       430000  

1                        Equivalent Units

                                                            Whole units Materials    Conversion

Beginning WIP inventory                    74000           74000        74000

Started & completed                          356000     356000        356000

Ending inventory                                34000           23800         10200

Units accounted for                           464000         453800        440200

                                                                Materials Conversion  

Equivalent units of production         453800    440200  

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Cost Data:                                                 Total Material Conversion

Beginning WIP inventory                  142800     98800       44000

Current costs                                      755960    513830      242130

Total cost to account for                    898760    612630      286130

Divided by Equivalent units                                    453800 440200

Cost per Equivalent unit                           2.00      1.35 0.65

Materials Conversion  

Cost per Equivalent unit                           1.35 0.65  

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Cost Assignment:    

Ending Work in process:    

Material                                                 32130  

Conversion                                            6630  

Total Ending Work in process             38760  

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Cost of units completed and transferred    

Material                                                 580500  

Conversion                                            279500  

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Cost to be accounted for:    

Beginning WIP inventory                       142800  

Current costs                                          755960  

Total costs to be accounted for            898760  

Cost accounted for as follws:    

Cost of units completed and transferred 860000  

Cost of ending work in process            38760  

Total costs accounted for                      898760  

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Answer:

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PB9-2 Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5] During the current year, Rayon Corporation disposed
sasho [114]

Answer:

Machine A entries

Debit Other income/disposal account (p/l)  $60,000

Credit Asset account $60,000

Being entries to derecognize the cost of the Machine A

Debit Accumulated depreciation account  $28,000

Credit Other income/disposal account (p/l)  $28,000

Being entries to derecognize the accumulated depreciation on Machine A

Debit Cash account  $33,500

Credit Other income/disposal account (p/l)  $33,500

Being entries to record the amount received from the disposal of machine A

<u>Machine B entries</u>

Debit Other income/disposal account (p/l)  $14,200

Credit Asset account $14,200

Being entries to derecognize the cost of the Machine B

Debit Accumulated depreciation account  $7,365

Credit Other income/disposal account (p/l)  $7,365

Being entries to derecognize the accumulated depreciation on Machine B

Explanation:

When the amount received from the disposal of an asset is higher than the carrying value of the asset, the company makes a gain on disposal. The proceed from the disposal of an asset may be recorded in the disposal or other income account.

On disposal, the carrying amount of the asset is derecognized by  

Debit Other income/disposal account (p/l)

Credit Asset account

with the cost of the asset, then,

Debit Accumulated depreciation account

Credit Other income/disposal account (p/l)

With the accumulated depreciation of the asset at the date of disposal,

Furthermore,

Debit Cash account

Credit Other income/disposal account (p/l)

with the amount received from the disposal or sale of the asset

7 0
3 years ago
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