1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pshichka [43]
4 years ago
9

Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams est

imated total overhead of $364,800; materials of 418,000 and direct labor of $228,000. During the year Adams incurred $426,000 in materials costs, $414,000 in overhead costs and $232,000 in direct labor costs. Compute the amount of overhead applied to jobs during the year.
Business
1 answer:
Ray Of Light [21]4 years ago
5 0

Answer:

Allocated MOH= $371,200

Explanation:

Giving the following information:

Estimated total overhead= $364,800

Estimated direct labor= $228,000.

Actual direct labor costs= $232,000

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 364,800/228,000

Estimated manufacturing overhead rate= $1.6 per direct labor dollar

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 1.6*232,000= $371,200

You might be interested in
A furniture company in the United States works with a plant in India to make wooden desks. The U.S. company designs the desks, a
Rudiy27

Answer: Globalization

Explanation: Globalization can be defined as the process under which the the company starts operating its business internationally, that is, in companies other than which it is incorporated.

In the given case, the company in the business is incorporated in USA but is using Indian labor for its manufacturing process and a Taiwan company for its shipping purposes.

Hence, we can conclude that the given case is an example of Globalization.

8 0
4 years ago
Read 2 more answers
The ​, ​, and partnership balance sheet reports capital of for ​, for ​, and for . is withdrawing from the firm. The partners ha
mash [69]

Complete Question:

The O'Hara, Parness​​, and Lincoln partnership balance sheet reports capital of $50,000 for O'Hara​, $125,000, for Parness​, and $25,000 for Lincoln.  O'Hara is withdrawing from the firm. The partners have shared profits and losses in the ratio of 1/2 to O'Hara​, 1/4 to ​Parness, and 1/4 to Lincoln. The partnership agreement states that a withdrawing partner will receive cash equal to the book value of his​ partners' equity. Journalize the withdrawal of O'Hara.

Answer:

The O'Hara, Parness​​, and Lincoln Partnership

Journal Entry:

Date      Description                   Debit              Credit

            O'Hara Capital A/c     $50,000

            Cash Account                                       $50,000

To record the withdrawal of O'Hara and his capital interest.

Explanation:

The Partnership of O'Hara, Parness, and Lincoln can use the journal entry as above to record the withdrawal of a partner.  The O'Hara's Capital account previously had a credit balance and cash will be involved in settling O'Hara, the journal entries to complete the withdrawal of O'Hara are a debit to the O'Hara's Capital account and a credit to the Cash account.  This arrangement is in accordance with the partnership agreement.  This is the most important governing law for the partnership and everything or transaction affecting the partnership must be done accordingly.  It is only in the absence of an agreement that the laws or general practise concerning partnership can be applied.

7 0
4 years ago
How much must be deposited at the beginning of each year to accumulate to $10,000 in four years if interest is at 9%
aliina [53]

Answer:

Annual deposit= $2,186.69

Explanation:

Giving the following information:

Future value= $10,000

Number of peridos= 4 years

Interest rate= 9% compounded annually

<u>To calculate the annual deposit required, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (10,000*0.09) / [(1.09^4) - 1]

A= $2,186.69

8 0
4 years ago
Exercise 5-6 Equivalent Units of Production-Weighted-Average Method [LO5-2] Highlands Company uses the weighted-average method i
BaLLatris [955]

Answer:

1. Tons of pulp completed and transferred out in June:

= Beginning Work in Process + Started into production in June - Ending WIP

= 80,600 + 301,100 - 51,900

= ‭329,800‬ tons

2. Equivalent units for Materials:

= Units completed and transferred out + Ending Equivalent units

= ‭329,800‬ + (51,900 * 42%)

= ‭351,598‬ tons

Equivalent units for Labor:

= 329,800 + (51,900 * 17%)

= ‭338,623‬ tons

7 0
3 years ago
Which type of account typically has very high liquidity, low or no interest, and low minimum balance?
Neko [114]
The current or checking account typically has very high liquidity, low or no interest, and low minimum balance. The current or checking account usually used for the daily transaction and they have a similar trait like the e-cash<span>. The current or checking account is one of three types of the bank deposit account.</span>
8 0
3 years ago
Other questions:
  • Label the statements as increasing GDP in either Canada or the United States.
    5·1 answer
  • Daryl is the founder of a successful smartphone application. He is detail-oriented and has high expectations of his employees. H
    11·2 answers
  • has gathered the following data on a proposed investment project (Ignore income taxes.): Investment required in equipment $ 36,5
    5·1 answer
  • Dr. Tanaka was served with a malpractice lawsuit based on allegedly removing the wrong organ. Following discovery, it becomes cl
    15·2 answers
  • The following table contains statements that provide some analysis of policies that address smoking, lung cancer, and cigarette
    6·1 answer
  • Nate Pride spent five years in an accounting educational program and successfully completed a rigorous accounting examination fi
    7·1 answer
  • Noreen is deciding whether to purchase Sport-Ease sneakers or a store brand. She has purchased other Sport-Ease shoes in the pas
    8·1 answer
  • Two options are available for painting your house: (1) oil-based painting, which costs $4,800 and (2) water-based painting, whic
    5·1 answer
  • Activity 2
    7·1 answer
  • If I invest $1000 in company A, there's a 40% chance I'll double my money, and a 60% chance I'll lose half my money. Those are t
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!