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Gwar [14]
3 years ago
5

At the beginning of a year, a company predicts total direct materials costs of $900,000 and total overhead costs of $1,170,000.

If the company uses direct materials costs as its activity base to allocate overhead, what is the predetermined overhead rate it should use during the year?
Business
1 answer:
ASHA 777 [7]3 years ago
6 0

Answer:

1.30

Explanation:

The cost of production is usually split into direct and indirect cost or overheads. the overheads is usually stated as a function of the direct cost( labour, machine hours, materials etc.)

The predetermined overhead rate

= $1,170,000/$900,000

= 1.3

This means that the company will incur an overhead cost of $1.30 for every $1 spent on direct materials.

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notsponge [240]

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14.277 hours.

Explanation:

Please see attachment.

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Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bond
almond37 [142]

Answer:

bonds payable       1,000,000 debit

loss on redemption    20,000 debit

        discount on bonds               10,000 credit

        cash                                  1,010,000 credit

--to record tyhe call of the bonds on September 30th--

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par value of the bonds:    1,000,000

call premium:                   <u>       10,000</u>

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carrying value                      990,000

loss on redemption               20,000

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discount/premium:

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discount             10,000

We write off the bonds account: bond payable and bon discount

we debit the loss and credit hthe cash disbursments

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