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Semenov [28]
3 years ago
15

The Work-in-Process inventory account of a manufacturing firm shows a balance of $4,090 at the end of an accounting period. The

job cost sheets of two uncompleted jobs show charges of $570 and $370 for materials, and charges of $600 and $800 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of: Multiple Choice 43%.
Business
1 answer:
Assoli18 [71]3 years ago
6 0

Answer:

125%

Explanation:

The computation of predetermined overhead rate is shown below:-

Manufacturing overhead = $4,090 - ($570 + $370 + $600 + $800)

= $4,090 - $2,340

= $1,750

Total direct labor = $600 + $800

= $1,400

Manufacturing overhead = Predetermined overhead rate × Direct labor

Predetermined overhead rate = Manufacturing overhead ÷ Direct labor

= $1,750 ÷ $1,400

= 125%

Therefore for computing the predetermined overhead rate we simply divide the manufacturing overhead by direct labor.

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During 2016, Sarasota Corporation spent $164,160 in research and development costs. As a result, a new product called the New Ag
Arturiano [62]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
Dyckman Dealers has an investment in Thomas Corporation bonds that Dyckman accounts for as a trading security. Thomas Corporatio
gtnhenbr [62]

Answer:

$20,000

Explanation:

The small investment in equities and bonds must be valued at market value and must not be accounted for in-accordance with the speculation of the company. So the market value here is $20,000 and must be valued at this price irrespective of the management valuation.

5 0
3 years ago
You have just won ​$20,000 in the state​ lottery, which promises to pay you ​$1,000​ (tax free) every year for the next twenty y
Marta_Voda [28]
The current value of the payment which is $1000 will be:
A=P(1+r/100)^-n
P=1000
r=5 %
n=1
A=1000(1+5/100)^-1
A=1000/1.05
A=$952.38
The first payments of $1000 is worth $952.38 today. The value of the second $1000 is worth:
A=1000(1+0.05)^-2=907.02 
today

7 0
2 years ago
Pharoah Company had checks outstanding totaling $42200 on its May bank reconciliation. In June, Pharoah Company issued checks to
notka56 [123]

Answer:

$109,700

Explanation:

Pharoah Company Outstanding checks on bank reconciliation:

Formula for Outstanding checks on bank reconciliation will be:

Outstanding checks on bank reconciliation = Total checks outstanding+Checks issued during month -checks cleared during the month

Hence,

= $42,200+$263,900-$196,400

= $109,700

Therefore the amount of outstanding checks on Pharoah Company's bank reconciliation should be $109,700

5 0
3 years ago
The portrayal of jobs on TV and in the movies is usually accurate.<br> true or false?
kakasveta [241]
False they tend to make way more easy to get a job on tv an in movies 
3 0
3 years ago
Read 2 more answers
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