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Phantasy [73]
3 years ago
11

Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121

,000 and 10,000 direct labor-hours for the period. The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period. The predetermined overhead rate is closest to: Multiple Choice $10.37 $12.10 $11.10 $11.30
Business
2 answers:
mixer [17]3 years ago
8 0

Answer:

The predetermined overhead rate is $12.10

Explanation:

Predetermined overhead rate can be calculated using the formula below :

Estimated total fixed manufacturing overhead / Estimated direct labor hours

= $(121000/10,000)

= $12.10.

Predetermined overhead rate = $12.10.

Thus option B is the best answer choice

kherson [118]3 years ago
6 0

Answer:

$12.10

Explanation:

Predetermined overhead rate rate is the rte which is used to apply the overhead to different departments and products using a given basis like Labor hour, machine hours etc.

Estimated Manufacturing overhead = $121,000

Estimated direct labor hours = 10,000 hours

Predetermined overhead is calculated by using following formula

Predetermined overhead = Estimated Manufacturing overhead / Estimated direct labor hours

Predetermined overhead = $121,000 / 10,000

Predetermined overhead = $12.10

Predetermined rate of $12.10 will be used to apply overhead to different department or product or project by using direct labor hour consumed by each.

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Assume the following data concerning a purchase of merchandise by Icon Co. on April 2:
Eduardwww [97]

The purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.

<h3>What is the purchase amount to be recorded?</h3>

The purchase amount that should be recorded on the date of purchase is the amount of the transaction.  This does not take into account the return and discount which happened later.

This implies that Icon Co. will reduce the purchase amount on April 4 when half of the goods were returned with a contra entry.  And discount will be based on the balance of $2,000 instead of $4,000.

<h3>Data and Calculations:</h3>

Purchase on April 2 = $4,000

Purchases Return on April 4 = $2,000

Thus, the purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.

Learn more about recording credit purchases at brainly.com/question/5651500

6 0
2 years ago
Which of the following most accurately describes a podcast?​ a. ​A multiplayer, competitive activity b. ​An interactive version
hichkok12 [17]
C. A podcast is a prerecorded usually audio about someone discussing a subject.
8 0
3 years ago
______ argued that the major activities of management and leadership are played out differently; but both are essential to an or
Zepler [3.9K]

Answer:

Kotter

Explanation:

According to Kotter, leadership and management are two different aspects but however they are complementary systems of action in organization.

3 0
3 years ago
Assume that the reserve ratio is 20% and banks in the system are loaning out all their excess reserve. If people collectively ca
Alex17521 [72]

Answer:

C. decreased by $40 billion

Explanation:

For computing the lending ability, first we have to determine the money multiplier which is shown below:

We know that

Money multiplier = 1 ÷ reserve ratio

                            = 1 ÷ 20%

                            = 5

So, the total cash would be

= $10 billion × $5

= $50 million

Now the lending ability would be

=$50 billion × (1 - 20%)

= $50 billion × 0.80

= $40 billion

6 0
3 years ago
Calculate the present value of the after tax net returns to land in the 7th year if thereal pre-tax net returns to land today ar
Tatiana [17]

Answer:

PV(after-tax net return in 7th year) = 70.55 (Approx)

Explanation:

Given:

Number of year = 7

Pre-tax net returns (Fn) = $100

Growth rate = 4% = 0.04

Inflation = 3% = 0.03

Marginal tax rate = 30% = 0.3

Discount rate = 10% = 0.1

Computation:

Fn = Fo(1+g)ⁿ = 100(1.04)⁷

Fn = 131.6

Nominal net returns = 131.6(1.03)⁷

Nominal net returns = 161.85

After tax return = 161.85  (1 - 0.3)

After tax return = 113.30

After-tax, risk adjusted discount rate = 0.1(1-0.3) = 7%

PV(after-tax net return in 7th year) = 113.30 (1+0.07)⁻⁷

PV(after-tax net return in 7th year) = 70.55 (Approx)

8 0
2 years ago
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