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Fynjy0 [20]
3 years ago
8

laston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of un

its expected to be produced are 189,000 in October, 197,500 in November, and 194,000 in December. Glaston assigns variable overhead at a rate of $0.70 per unit of production. Fixed overhead equals $146,000 per month. Compute the total budgeted overhead for October?
Business
1 answer:
g100num [7]3 years ago
4 0

Answer:

Total= $278,300

Explanation:

Giving the following information:

The production budget indicates that the number of units expected to be produced is 189,000 in October, 197,500 in November, and 194,000 in December. Glaston assigns variable overhead at a rate of $0.70 per unit of production. Fixed overhead equals $146,000 per month.

Budgeted overhead for October:

Variable= 0.70*189,000= $132,300

Fixed= $146,000

Total= $278,300

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An entrenpeneur knits sweaters for sale. The entrenpeneur has fixed costs of $100. When he makes 10 sweaters in one month, he mu
Likurg_2 [28]

Answer:

marginal cost = $2

Explanation:

given data:

cost on wool when 10 sweater made in one month = $15

cost on wool when 11 sweater made in one month = $17

fixed cost = $100

In case of no other cost present, marginal cost is given by

Marginal cost = cost of eleven sweaters - cost of ten sweaters

                       = $17 -$15

                       = $2

8 0
3 years ago
A firm selling televisions knows from marketing research that when consumers in developing countries reach on average a yearly i
yulyashka [42]

Answer:

That low income can be enough because of either one of these two reasons (or the two at the sime time):

  • A high proportion of subsidized good for low-income earners in developing countries: a consumer making $1,000 per year on average could benefit from subsidized food, housing, healthcare, and even transportation, allowing this person to devote most of his income to other expenses.
  • Cheap credit available: this same person could not have enough money to pay for the television in cash, but could easily obtain a credit with low interest rates, and long-term payments.

5 0
3 years ago
Mccrone Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 59 Manu
Karolina [17]

Answer:

$172,000

Explanation:

The solution of net operating income (loss) under variable costing in Year 1 is provided below:-

To find out the net operating income (loss) first we need to follow some steps which are as follows:-

Step 1

Total unit product cost = Direct material + Direct Labor + Variable manufacturing overhead

= $11 + $6 + $4

= $21

Step 2

Gross contribution margin = Sales - (Beginning inventory + variable cost of goods manufactured + Variable cost of goods available for sale - Ending inventory)

= ($59 × 10,000) - ( 0 + ($21 × 11,000) - ($21 × 1000)

= $590,000 - (0 + $231,000 - $21,000)

= $590,000 - $210,000

= $380,000

and finally

Net Operating income = Gross contribution margin - Variable selling and administrative expenses - Manufacturing - Selling and administrative expenses

= $380,000 - (10,000 × $4) - $88,000 - $80,000

= $380,000 - $40,000 - $88,000 - $80,000

= $172,000

To reach  we simply put the values into formula.

5 0
3 years ago
Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2,840 to wire electricity to the
arsen [322]

Answer:

2nd January

Dr Machinery              $178,000

  Cr Cash                    $178,000

( to record the purchase of used machine)

3rd January

Dr Machinery              $4,000

  Cr Cash                    $4,000

(to capitalized the cost of wire electricity and installation to put the purchased machine in a ready-to-use stage).  

Explanation:

- According to the information, all the expenses relating to the purchase of used machine are in cash. Thus, Cash is credited at the total amount of $182,000, in which $178,000 is credited in 2nd January to record the purchased price and the other $4,000 (2,840 + 1,160) is credited in 3rd January.

- Under GAAP, the recorded costs of a purchased fixed asset should included all the costs incurred which are necessary to bring the fixed asset to a ready-to-use stage. As wire electricity cost & cost for securing the machine in its position are all necessary for the machine's operation, these costs should be capitalized.  

6 0
3 years ago
Three weeks after Abed died, his brother Tony properly received Abed’s last paycheck from his employer. The gross amount of the
KIM [24]

Answer:

The best answer is "A"

It is deductible both on Tony's income tax return and on Abe's estate tax return

8 0
3 years ago
Read 2 more answers
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