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3 years ago

The following data pertain to the Oneida Restaurant Supply Company for the year just ended.

Business

1 answer:

dimulka [17.4K]3 years ago

8 0

Answer:

Predetermined overhead rate = Budgeted manufacturing rate/Allocation base

a. <u>Machine hours</u>

= 364,000 / 8,000

= $45.5

Predetermined overhead rate = $45.5

<u />

<u>Direct-labor hours</u>

= 364,000 / 20,000

= $18.2

Predetermined overhead rate = $18.2

<u>Direct-labor dollars</u>

Budgeted labor hours = 20,000 * $14 = $280,000

Predetermined overhead rate = 364,000 / $280,000 = $1.3

b. <u>Machine hours</u>

Manufacturing overhead applied = Actual machine hours * Predetermined overhead rate = $45.5 * 11,000 = $500,500

Over/Under applied overhead = 336,000 - 500,500

Over-applied overhead = $164,500

<u>Direct-labor hours</u>

Manufacturing overhead applied = Actual direct-labor hours * Predetermined overhead rate = $18.2 * 18,000 = $327,600

Over/Under applied overhead = 336,000 - 327,600

Under-applied overhead = $8400

<u>Direct-labor dollars</u>

Manufacturing overhead applied = Actual direct-labor hours * Actual direct-labor rate * Predetermined overhead rate

Manufacturing overhead applied = 18,000 * $15 * $1.3 = 351,000

Over/Under applied overhead = 336,000 - 351,000

Over-applied overhead = $15,000

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Grouper Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first ye

Fynjy0 [20]

Answer:

Feb-01

Dr Cash $4,368,000

Cr Prefered stock $2,080,000

Cr Paid-in capital in excess of par value-Preferred $2,288,000

Jul-01

Dr Cash $7,134,000

Cr Prefered stock $6,150,000

Cr Paid-in capital in excess of par value-Prefered $984,000

Explanation:

Preparation of the journal entries

Feb-01

Dr Cash(41,600 shares*$105) $4,368,000

Cr Prefered stock(41,600 shares*$50) $2,080,000

Cr Paid-in capital in excess of par value-Preferred $2,288,000

($4,368,000-$2,080,000)

Jul-01

Dr Cash(123,000 shares*$58) $7,134,000

Cr Prefered stock(123,000 sahres*$50) $6,150,000

Cr Paid-in capital in excess of par value-Prefered $984,000

($7,134,000-$6,150,000)

3 0

3 years ago

Bank of the Atlantic has liabilities of $4 million with an average maturity of two years paying interest rates of 4.0 percent an

Setler [38]

Answer:

the bank net interest income for the current year is $140,000

Explanation:

The computation of the bank net interest income for the current year is shown below:

= (Interest earning assets × Interest rate earned)-(Interest bearing liabilities × Interest rate rate)

= $5,000,000 × 6% - $4,000,000 × 4%

=$300,000 - $160,000

= $140,000

Hence, the bank net interest income for the current year is $140,000

8 0

3 years ago

Julia gives importance to both relationships and tasks. She clarifies task objectives and setting policies and budgets. She also

Fantom [35]

Answer:

a. supporting leader style

Explanation:

in a supporting leadership style, the head of the team is aim at developing his or her team member (sub ordinate), training them to be independent and guide them on how to achieve a given task.

in this scenario, Julia shows a supporting leadership style by:

providing aid and guidance to her subordinates and

acknowledging their accomplishments and allows them to provide suggestions.

She is trying to help her subordinate to achieve the challenge tasks given to them.

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3 years ago

Another company plans to issue 20-year bonds with a face value of $1,000 and an annual coupon rate of 10%. The market price of s

Lorico [155]

The after-tax cost of debt is 6.28%. Subtract a company's effective tax rate from one and multiply the difference by its cost of debt to calculate its after-tax cost of debt.

<h3>What is After-tax cost?</h3>

After-tax cost denotes the actual costs less an amount equal to the combined federal and state income tax savings relating to the deductibility of said costs for federal and state tax purposes in the year in which such costs are incurred.

WACC represents a company's average after-tax cost of capital from all sources, including common stock, preferred stock, bonds, and other forms of debt.

WACC is the average interest rate that a company anticipates paying to finance its assets. The pre-tax cost of debt must be tax-affected because interest is tax-deductible, effectively creating a "tax shield" that is, interest expense reduces a company's taxable income (earnings before taxes, or EBT).

Therefore,

The after-tax cost of debt is 6.28%.

FV = -$1,000

PMT = -$100

N = 20 years

PV = $1,098 before including flotation costs; $1,098×(1-.05) = $1,043.10 after including flotation costs.

Compute I/Y = 9.511%

After-tax cost of debt = 9.511%×(1-.34) = 6.28%

To learn more about After-tax cost, refer to:

brainly.com/question/25790997

#SPJ4

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1 year ago

How have ATMs evolved since then? Have you used one? Explain.

olga2289 [7]

<h2>The following points describe how have ATMs evolved since their first setup: </h2>

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The new ATMs used plastic cards similar to the cards that we use today.
Both the types of cards and the interface of the ATMs changed with time.

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3 years ago

Read 2 more answers