Answer:
$4,200 over applied
Explanation:
For computing the over applied overhead, first we have to find out the predetermined overhead rate which is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $327,080 ÷ 14,800 hours
= $22.1
Now we have to find the actual overhead which equal to
= Actual direct labor-hours × predetermined overhead rate
= 13,900 hours × $22.1
= $307,190
So, the overhead over applied would be
= Actual manufacturing overhead - applied overhead
= $302,990 - $307,190
= $4,200 over applied
B. Command economy
This is because this is exactly what. Command economy does
Answer: $17800
Explanation:
The opening balance of Retained earnings = $24,100
Net Income for the year = $19,900
Closing balance of Retained earnings = $ 26,200
The, the amount of dividends declared during the year = (opening balance) +(Net Income) -(
Closing balance)
= $ (24100+19900-26200)
= $17800
Hence, the amount of dividends declared during the year is $17800.
The given statement is TRUE
Explanation:
The global overhead rate is a standard overhead rate used by a company to transfer all of its overhead cost for production to goods or objects of cost. It is most widely used with simple cost models in smaller businesses.
In fact, the typical company prevents the use of a single overhead rate throughout the whole plane, instead using a small number of separately allocated cost pools with different overhead rates. In this way, the overall assignment is improved, but the time necessary to close the books is increased. There is a balance between a larger transparency effort to track and distribute multiple expense pools and the improved consistency of this additional effort in the financial statement.