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GuDViN [60]
3 years ago
11

Rist Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporat

ion estimated that it would incur $255,000 in manufacturing overhead during the year and that it would work 100,000 machine-hours. The Corporation actually worked 105,000 machine-hours and incurred $270,000 in manufacturing overhead costs. By how much was manufacturing overhead underapplied or overapplied for the year? (Round your intermediate calculations to 2 decimal places.)
Business
1 answer:
Vladimir [108]3 years ago
4 0

Answer:

underapplied by 2,250

Explanation:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

we will distribute the expected cost of overhead  ovwer the cost driver. In this case, machine hours:

255,000 / 100,000 = 2.55

Then we multiply thew rate by the amount of actual hours:

105,000 x 2.55 = 267,760

We compare with the appleid overhead:

267,760 - 270,000 = -2,250

As the actual overehad was higher than applied overhead the overhead was underapplied

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The __________ shows how the capital is structured in the business, including the value of assets and the amount the firm owes a
PIT_PIT [208]

Answer:

balance sheet

Explanation:

The <u>balance sheet</u> shows how the capital is structured in the business, including the value of assets and the amount the firm owes at a specific point in time.

4 0
2 years ago
Here are selected data for Creek​ Corporation: Cost of materials purchases on account $ 68 comma 700 Cost of materials requisiti
Sedbober [7]

Answer:

$29,900

Explanation:

According to the scenario, computation of the given data are as follows:-

Predetermined Manufacturing Overhead = 130% of Direct Labor Cost

= $77,000 × 130÷100 = $100,100

Direct Material= $51,300 - $4,500 = $46,800

Direct Labor = $77,000

Total Added Cost to WIP = Manufacturing Overhead + Direct Material + Direct Labor

=$100,100 + $46,800 + $77,000 = $223,900

WIP Inventory at the End of The Year = Beginning WIP Inventory +Total Added Cost to WIP - Cost of Goods Manufactured

= $29,700 + $223,900 - $223,700

= $29,900

5 0
3 years ago
Duc has been employed by Longbow Corporation for 25 years. During that time, he bought an annuity at a cost of $50 per month ($1
Arte-miy333 [17]

Answer:

a. How much gross income does Duc have from the contract in the current year?

According to the IRS, Duc's life expectancy is 90 years and 8 months, or 310 more months. This means that Duc can discount from his monthly income $15,000 / 310 = $48.39 (which we must round down to $48).

Duc received 8 x $200 = $1,600

deductions = 8 x $48 = $384

taxable income = $1,216

b. Assume that Duc dies on April 2, 2025. How does Annika account for the contract in 2025?

Annika should account for the contract in the same way as Duc did, and will also be able to discount $48 per month form her gross income. Since Annika will still file her taxes as married during 2025, she will report net income from this contract = ($200 - $48) x 12 months = $1,824

c. Assume the same facts as in part b and that Annika dies on August 4, 2032. How does the executor of Annika's estate account for the contract in the year of her death?

Both Duc and Annika received [(2032 - 2019) x 12] + 4 = 160 payments in total, so her estate is entitled to a tax deduction = (310 - 160) x $48 = $7,200

Since she died on August, her estate must also report income = ($200 - $48) x 8 = $1,216

3 0
3 years ago
You plan to deposit $5,200 at the end of each of the next 15 years into an account paying 11.3 percent interest. a. How much wil
scZoUnD [109]

Answer:

Amount after 15 years = 183255.011

Explanation:

Below is the calculation to find the amount after 15 years:

Annuity amount or early deposited amount = $5200

Time period = 15 years

Interest rate = 11.3 %

Now we have to find the amount after 15 years:

Amount after 15 years = Annuity [((1 + r)^n - 1) / r ]

Amount after 15 years = 5200 [((1 + 11.3)^15 - 1) / 11.3% ]

Amount after 15 years = 183255.011

3 0
2 years ago
A marketing campaign to target business travelers includes two advertising buys. One buy cost $4,600 and yielded 220 leads. The
Korvikt [17]

Answer:

$20.90 & $14.88

Explanation:

The average cost per lead is the marketing expense incurred to acquire a new potential customer.  The average cost per or CPL is calculated using the formula total marketing spend / total number of leads. CPL helps identify the most efficient advertising channel.

For the first advertising buy, average cost per lead

=$4,600/220

=$20.90

For the second advertising buy

=$6700/450

=$14.88

3 0
3 years ago
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