The amount of applied overhead is $1,000.
<h3>
What is inventory?</h3>
- The products and materials that a company keeps on hand with the intention of reselling, producing, or using them are referred to as inventory or stock.
- The main focus of inventory management is determining the location and shape of stocked commodities.
<h3>What is material cost?</h3>
- The price of direct materials is directly related to the unit of production and is immediately identifiable.
- For instance, the price of glass is a direct material expense in the production of light bulbs.
- The primary component needed for the production of commodities or products was material.
<h3>Solution -</h3>
To find the amount applied overhead:
3200 - ( 1400 + 800 ) = 3200 - 2200
= $1,000
Therefore, the amount of applied overhead is $1,000.
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Given:
nominal interest rate 7%
real interest rate 4%
end of the year CPI is 198.30
beginning of the year CPI?
nominal rate - real interest rate = 7% - 4% = 3%
end of the year CPI is the result of the beginning of the year CPI which increased by the difference in percentage of the nominal rate and real interest rate.
end of the year CPI = beginning of the year CPI * (1 + difference of nominal and real interest rate)
198.30 = beginning of the year CPI * (1+0.03)
198.30 / 1.03 = beginning of the year CPI
192.52 = beginning of the year CPI
The consumer price index (CPI) at the beginning of the year is 192.52
Answer:
Allocated MOH= $3,672
Explanation:
Giving the following information:
Job V:
DM= $6,300
DL= $8,600
Overhead= $5,848
Job W:
DM= $4,300
DL= $5,400
<u>First, we need to calculate the predetermined overhead rate based on Job V:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
5,848 = Estimated manufacturing overhead rate*8,600
Estimated manufacturing overhead rate= 5,848/8,600
Estimated manufacturing overhead rate= $0.68
<u>Now, the allocated overhead to Job W:</u>
Allocated MOH= 0.68*5,400
Allocated MOH= $3,672
Answer:
$320,000 or $0.32 million
Explanation:
In accounting, the percentage of bad debt expenses is applied to the outstanding accounts receivable at the end of a particular accounting period.
In the question, the end of the accounting period is given as December 31 and the outstanding accounts receivable as at that December 31 is a total of $6.40 million. Therefore, we will disregard other values and simply apply 5% to the the outstanding accounts receivable of $6.40 million as at that December 31 as follows:
Bad debt = Outstanding accounts receivable × 5%
= $6.40 million × 5%
= $6,400,000 × 5%
= $320,000
Therefore, the amount of bad debt expense to recognized for the year is $320,000 or $0.32 million.