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Firdavs [7]
3 years ago
10

During the month of September, direct labor cost totaled $11,000 and direct labor cost was 40% of prime cost. If total manufactu

ring costs during September were $73,000, the manufacturing overhead was:
(A) $16,500
(B) $27,500
(C) $62,000
(D) $45,500
Business
1 answer:
LiRa [457]3 years ago
7 0

Answer:

The correct answer is D: Manufacturing overhead= $45500

Explanation:

Giving the following information, we need to calculate the amount of manufacturing head.

Direct labor= $11000

Direct labor is 40% of prime costs

Total manufactured cost is= $73000

First, we need to calculate the direct material:

Prime cost= direct material + direct labor

If direct labor is 40% of prime costs, then:

Direct material=(11000*60/40=16500

Now, the manufactured cost formula is:

Manufactured cost= direct material + direct labor  + manufacturing overhead

By rearranging the formula:

<u>Manufacturing overhead= Manufactured costs - direct material - direct labor= 73000- 16500-11000=$45500</u>

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Potential GDP refers to the level of ___________ Select one: a. Nominal GDP in the long run. b. Nominal GDP in the short run. c.
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c. Real GDP in long run

Explanation:

Potential GDP refers to the level of real GDP in long run.

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On January 1, 2004, Kay Inc. issued its 10% bonds in the face amount of $400,000, which mature on January 1, 2014. The bonds wer
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Answer:

Unamortized discount is $43,700

Explanation:

Unamortized bond discount=original bond discount-amortization to date

original bond discount is $46,000

Amortization =interest  payable-interest expense

interest payable=$400,000*10%*6/12

                            =$20,000

Interest expense=$354,000*10%*6/12

                             =$17,700

amortization of discount=$20,000-$17,700

                                        =$2300

unamorized bond discount=$46000-$2300

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The unamorized bond discount at the end of the first six months is $43,700

                     

3 0
3 years ago
The direct write off is used when:
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Answer:

The correct answer is letter "A": Uncollectible accounts are not anticipated or immaterial.

Explanation:

Direct write-off is a method used to record debts from credit sales. An allowance account is not used with this method but an account receivable directly written-off for the outstanding amount once it is determined to be uncollectible. This method is used for tax-reporting purposes.

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3 years ago
Sheridan Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. T
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Answer:

Note: <em>The options attached belongs to another question, so the answer is not included</em>

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Premium liability at December 31, 2020 = 7,333.33

Premium liability at December 31, 2021 = 7333.33 + ((600000*60%) - 150000) / 8*3

Premium liability at December 31, 2021 = 7333.33 + 360,000 - 150,000

Premium liability at December 31, 2021 = 217,333.33

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3 years ago
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