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barxatty [35]
3 years ago
9

Middlesex manufacturing uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. L

ast year, the company's estimated manufacturing overhead was $1,200,000 and its estimated level of activity was 50,000 direct labor-hours. The company's direct labor wage rate is $12 per hour. Actual manufacturing overhead amounted to $1,340,000, with actual direct labor cost of $650,000. For the year, manufacturing overhead was:
Business
1 answer:
valkas [14]3 years ago
8 0

Answer:

Under applied = - 40000

Explanation:

Given the estimated manufacturing overhead = $1200000

The direct labor hour = 50000

Direct labor wage rate = $12 per hour

Actual overhead value = $1340000

Now first find the pre-determined overhead rate.

Pre-determined Overhead Rate = 1200000/50000 = 24  

Now find the applied overhead.

Now the Applied Overhead = 650000/12 × 24 = 1300000

Given Actual Overhead = 1340000

Under applied = 1300000 - 1340000 =- 40000

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Micro Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The current year's income state
Alexxx [7]

Answer:

$19,687 million

Explanation:

Income tax expense = Income before income tax expense*Effective tax rate

Income before income tax expense = Income tax expense / Effective tax rate

Income before income tax expense = $2,953 million / 15%

Income before income tax expense = $2,953 million / 0.15

Income before income tax expense = $19,687 million

So, the amount that Micro report as income before income tax expense that year is $19,687 million.

6 0
3 years ago
Helix reported the following information in its financial statements. Write-offs of accounts receivable were $200 in the current
olya-2409 [2.1K]

Answer:

the Bad debt Expense for the Year is $250

Explanation:

The computation of the bad debt expense is given below:

Bad debt Expense for the Year is

= Current year of  Allowance for Doubtful Accounts + Write off in Current Year - Prior year of Allowance for Doubtful Accounts  

= $400 + $200 - $350

= $250

Hence, the Bad debt Expense for the Year is $250

7 0
2 years ago
You are selling a product on commission, at the rate of $1,000 per sale. To date, you have spent $800 promoting a particular pro
Vesnalui [34]

Answer:

Either you quit trying and lose $800 sunk, or you spend $800 for $1,600 total in which the Net from the sale of $1,000 would results in a loss of $600. That means it will be of good to lose $600 than $800.

Explanation:

Since $800 has been spent which means Spending up to an additional $1,000 is still reasonable, but a condition in which you know that the deal will definitely go through.

Secondly since you have already sunk $800, and you know that spending an additional $800 would guarantee it, you can do one among this two options which are either you stop trying and lose the $800 sunk, or you the spend $800 for $1,600($1,000+$600) total in which the Net from the sale of $1,000 would results in a loss of $600($1,000-$800=200,$800-$200=$600). That means it will be of good to lose $600 than $800.

4 0
3 years ago
Read 2 more answers
Marketplaces - 8th - Business Tech
mr_godi [17]

Answer:

low

Explanation:

cost of borrowing money is less

4 0
2 years ago
There are three main reasons why monetary policy doesn’t always work. Match each reason with its explanation.
evablogger [386]

Answer:

3. People don’t act as the Fed hopes.

a. The Fed can create conditions meant to encourage people to, for example, borrow more money. But if people are fearful of going into debt when their employment situation is uncertain, they may not respond to the Fed’s incentives.

  • people make heir personal decisions based on what they expect to happen in heir future

1. The long run is different from the short run.

b. Although an expanded money supply can briefly stimulate economic growth, eventually the economy will return to the same level of productivity, just at higher prices for goods and wages.

  • equilibrium is the key word regarding the long run

2. People adjust their expectations.

c. Fed actions are most effective when they come as a surprise. When people have figured out in advance what the Fed is going to do, the Fed’s actions don’t have as much impact.

  • People's expectations can result in the failure of economic policies. For example, if households expect higher inflation, they might take loans or accelerate their purchases.

8 0
2 years ago
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