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Svetllana [295]
3 years ago
14

Assume that Roth’s accountants are expected to work a total of 8,000 direct labor hours in 2018. Roth’s estimated total indirect

costs are $96,000 and the allocation base used is direct labor hours. Requirements What is Roth’s predetermined overhead allocation rate? What indirect costs will be allocated to Client 507 if Jack Smith, an accountant at Roth Accounting, works 15 hours to prepare the financial statements?
Business
1 answer:
xz_007 [3.2K]3 years ago
8 0

Answer:

$12 and $180

Explanation:

The computation of the predetermined overhead rate is shown below:

As we know that

The predetermined overhead rate is

= Estimated total indirect cost  ÷ expected direct labor hours

= $96,000 ÷ 8,000

= $12

And, the indirect cost is

= Predetermined overhead rate × number of hours

= $12 × 15

= $180

We simply applied the above formula

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Answer:

transformational leader

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3 years ago
The following information is available from the records of a manufacturing company that applies factory overhead based on direct
WITCHER [35]

Answer:

The manufactured overhead was under-estimated.

Explanation:

Giving the following information:

The actual manufacturing overhead costs incurred were $515,000.

Estimated Manufacturing overhead was $500,000.

Overhead allocation is the distribution of indirect costs to produced goods. When the administration has undervalued and under-funded the amount of money needed for non-production costs, they have under-allocated overhead.

<u>Over applied manufacturing overhead:</u>

<u></u>

Applied overhead>Actual overhead

<u>Under applied manufacturing overhead:</u>

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In this exercise:

Actual manufacturing overhead - Estimated Manufacturing overhead= 515000- 500000= 15000

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3 years ago
Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $12,000). The sales tax law requires
Nitella [24]

Answer and Explanation:

The journal entries are shown below:

1. On Sep 30

Cash    $15750

   To Sales   $15,000

   To Sales taxes payable ($15000 ×5%)  $750

(Being the cash receipts is recorded)

For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it increased the revenue and liabilities

2   On Sep 30

Cost of goods sold   $12,000

              To Merchandise inventory $12,000

(Being the cost of goods sold is recorded)

For recording this we debited the cost of goods sold as it increased the expenses and credited the merchandise inventory as it reduced the assets

3  On Oct 15

Sales taxes payable $750

      To Cash $750

(Being cash paid is recorded)

For recording this we debited the sales tax payable as it reduced the liabilities and credited the cash as it decreased the assets

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3 years ago
Jill just made a purchase online. The store that she bought from gave her the option to pay with a check, money order, or credit
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Answer:

The credit card is the most effective method of payment.

Explanation:

The store will not ship the item until the payment is accredited to their account. Because of this, Jill needs to pick the payment  method that have the fastest clear time.

The Check: usually takes about two business days for a deposited check to clear.

Money Order: It depends on the bank. Some banks allow for money orders to be cleared and deposited almost immediately, and some require at least one business day for it to clear.

Credit Card: almost all the time payments can take place immediately.

The obvious choice is Credit Card payment for the instant clear of the funds in the store account.

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