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ivolga24 [154]
3 years ago
7

O.K. Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. O.K. expects

to incur $2,000,000 of overhead during the next period and expects to use 50,000 labor hours at a cost of $10.00 per hour. What is O.K. Company's overhead application rate
Business
1 answer:
Vlada [557]3 years ago
7 0

Answer:

Predetermined manufacturing overhead rate= $0.4 per direct labor dollar

Explanation:

Giving the following information:

O.K. expects to incur $2,000,000 of overhead during the next period and expects to use 50,000 labor hours for $10.00 per hour.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

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

Predetermined manufacturing overhead rate= 2,000,000/ (50,000*10)

Predetermined manufacturing overhead rate= $0.4 per direct labor dollar

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3 years ago
Which statement explains a proportional tax system?
-Dominant- [34]

Answer:

The tax rate is the same for all income levels.

Explanation:

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7 0
4 years ago
Logan, an employee of Argon Industries, earned a salary of $60,000 in year 2. In addition, the following two transactions betwee
Mariana [72]

Answer:

$88,000

Explanation:

Calculation to determine What amount of compensation should Argon report in Logan's Form W-2 for year 2

First step is to determine the bargain element

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Bargain Element=$15 per share

Now let determine the amount of compensation

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3 years ago
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