A conglomerate is the combination of two or more corporations operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Often, a conglomerate is a multi-industry company. Conglomerates are often large and multinational.
Answer:
B. one of only 2 factories that made the product shuts down.
<u>Calculation of the budgeted indirect cost rate:</u>
It is given that budgeted total costs of the firm total $4,000,000 of which $2,500,000 is direct-labor costs. Hence Total Indirect Cost is ($4,000,000-$2,500,000) = $1,500,000
It is also given that direct-labor cost is the allocation base. Hence the allocation rate shall be calculated as follows:
Budgeted indirect cost rate = Total Indirect Cost / Total direct-labor costs
= 1,500,000 / 2,500,000
= 0.6
=60%
Hence the budgeted indirect cost rate is<u> 60% of Direct labor cost. </u>
Answer:
December 28, 2021
Merchandise $26,000 (debit)
Trade Payable $26,000 (credit)
January 6, 2022
Trade Payable $260 (debit)
Discount Received $260 (credit)
<em>Being recognition of discount received</em>
Trade Payable $25,740 (credit)
Cash $25,740 (credit)
<em>Being settlement of an account</em>
Explanation:
December 28, 2021
Recognise Liability and an Asset
January 6, 2022
Recognise Cash and an Income and also de-recognise a Liability
Answer: 150%
Explanation:
Based on the question,
Direct materials = $400 + $200 = $600
Direct labor cost = $300 + $500 = $800
Overhead = Closing WIP - Direct material cost - Direct labor cost
= $2600 - $600 - $800
= $1200
The predetermined overhead rate based on the direct labor will be calculated as:
= Overhead / Direct labour cost
= $1200/$800
= 1.50
= 150%