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stich3 [128]
3 years ago
13

A manufacturing company has the following budgeted overhead costs: Indirect materials: $0.50 per unit; Utilities: $0.25 per unit

; Supervisory salaries: $60,000; Building rent: $80,000. If the company expects to produce 200,000 units using 100,000 hours of direct labor, the standard overhead rate will be $ per direct labor hour.
Business
1 answer:
Darina [25.2K]3 years ago
8 0

Answer:

Total overhead                       $

Indirect material ($0.5 x 200,000 units) = 100,000

Utilities ($0.25 x 200,000 units)             = 50,000

Supervisory salaries                                 = 60,000

Building rent                                              = 80,000

Total overhead                                             290,000

Overhead rate                = <u>Budgeted overhead</u>

                                           Budgeted direct labour hours

                                         = <u>$290,000</u>

                                              100,000 hours

                                         = $2.90 per direct labour hour

Explanation:

In this case, we need to obtain the total overhead, which is the total of indirect material, utilities, supervisory salaries and building rent.

Then, we will divide the total overhead by direct labour hours so as to determine the overhead rate.

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ddd [48]

Answer:

PV = $9,245.56

Explanation:

Giving the following information:

Future value (FV)= $10,000

Number of periods (n)= 2 years

Discount rate (i)= 4% = 0.04

<u>To calculate the present value (PV), we need to use the following formula:</u>

<u></u>

PV = FV / (1 + i)^n

PV = 10,000 / (1.04^2)

PV = $9,245.56

7 0
3 years ago
Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 an
Andrej [43]

Answer:

<u>Foster Manufacturing </u>

<u>Journal Entries</u>

<u>Sr. No                       Particulars                       Debit           Credit</u>

1                    Work in Process Job No. 221        1200

                    Work in Process Job No. 222      1700

                   Work in Process Job No. 223       2400

                    Work in Process Job No. 224      2600

         Factory Overhead  Indirect Materials      600

                              Materials Inventory                                  8500

Materials Requisitioned to specific jobs work in process inventory.

2. Direct Labor    Work in Process Job No. 221        1600

     Direct Labor  Work in Process Job No. 222      2200

  Direct Labor    Work in Process Job No. 223       2900

    Direct Labor Work in Process Job No. 224      2800

                                                   Indirect Labor      400

                                      Payroll                                               9500

                                         Factory OverheadControl               400

Direct Labor used for specific jobs.

3.          Work in Process Job No. 221              1120

                    Work in Process Job No. 222      1540

                   Work in Process Job No. 223       2030

                    Work in Process Job No. 224      1960  

                         Manufacturing Overheads                            6930

Manufacturing Overheads applied to specific jobs at the rate of 70%.

4.     Finished Goods Inventory          $ 7940

      Opening   Work in Process Job No. 221                       3600

         Work in Process Job No. 221 Materials                     1200

         Work in Process Job No. 221 Direct Labor               1600

         Work in Process Job No. 221 MOH                          1540

Job 221 completed and transferred to finished goods.

                   

3 0
3 years ago
Klumpro, a supplier of organic milk products, sells its products to Sweedinth, a dessert store and Klumpro's long-term customer,
Alexxandr [17]

Answer:

Business relations

Explanation:

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8 0
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The Yale Company has one bond outstanding. The bond has a $20,000 face value and matures in 20 years. The bond makes no interest
natima [27]

Answer:

$16,695.11

Explanation:

the price of the bond is equal to the present value of its cash flows:

value of cash flows in year 6 = $1,100 x 12.75523 (PV annuity factor, 16 periods, 2.8%) = $14,030.75

value of cash flows in year 14 = $1,400 x 10.07390 (PV annuity factor, 12 periods, 2.8%) = $14,103.46

present value in year 0 = [$14,030.75 / 1.056⁶] + [$14,103.46 / 1.056¹⁴] = $10,118.06 + $6,577.05 = $16,695.11

8 0
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The Blooming Flower Co. has earnings of $1.48 per share. a. If the benchmark PE for the company is 15, how much will you pay for
marshall27 [118]

Answer:

$22.20

Explanation:

Using the equation to calculate the price of a share of stock with the PE ratio:

P = Benchmark PE ratio * EPS  

So, with a PE ratio of 15  

P = 15*($1.48)

P = $22.20

4 0
3 years ago
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