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balandron [24]
3 years ago
6

Pineapple International uses a job order costing system. Pineapple's accounting manager estimated that direct labor would be $2,

990,000 (230,000 hours at $13/hour) and that factory overhead would be $1,530,000 for the current period. At the end of the period, 210,000 hours of direct labor and $1,230,000 of actual overhead costs were recorded. Determine the predetermined overhead rate using direct labor hours as a base. (Round your answer to two decimal places.) g
Business
1 answer:
Naddika [18.5K]3 years ago
7 0

Answer:

$6.65 per hour

Explanation:

We can determine the predetermined overhead rate by

Estimated factory overhead cost / Estimated number of direct labor hours.

Estimated factory overhead cost = $1,530,000

Estimated number of direct labor hours = 230,000 hours

= $1,530,000 / 230,000

= $6.65 per hour

Predetermined overhead rate is $6.65 per hour

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A bond discount must be amortized using the effective-interest method if it yields annual amounts that are materially different
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A bond discount must:

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Read 2 more answers
Aging Class (Number Receivables Estimated Percent of
marissa [1.9K]

Answer and Explanation:

The journal entries are shown below:

a Bad debt expense $102,500  

         To Accounts Receivable-Kim Abel  $21,550  

         To Accounts Receivable-Lee Drake  $33,925  

         To Accounts Receivable-Jenny Green $27,565  

         To Accounts Receivable-Mike Lamb  $19,460

(Being the bad debt expense is recorded)  

b Allowance for Doubtful accounts  $102,500

    ,    To Accounts Receivable-Kim Abel  $21,550  

         To Accounts Receivable-Lee Drake  $33,925  

         To Accounts Receivable-Jenny Green $27,565  

         To Accounts Receivable-Mike Lamb  $19,460

(Being the written- off amount is recorded)    

Bad debt expense $117,150  

      Allowance for Doubtful accounts  $117,150

(Being the bad debt expense is recorded)

Working notes:

                   (in $)                                                                     (in $)

Days          Receivables Balance       % Uncollectible      Allowance

0-30 days    715000                                 1%                        7150

31-60 days   310000                                 2%                      6200

61-90 days   102000                                 15%                    15300

91-120 days   76000                                 30%                    22800

More

than 120 days  97000                               60%                   58200

Total               1300000                                               109650

Now the adjustment balance is

= $109,650 - ($95,000 - $102,500)

= $109,650

7 0
3 years ago
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