1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
den301095 [7]
3 years ago
8

Bob's Boats uses job costing. They use direct labor hours as a basis for allocating overhead costs to jobs. Given the following

information, calculate Bob's predetermined overhead rate. Input your answer without dollar signs or commas. Round your answer to two decimal places.
Actual Overhead Expense $104038
Estimated (Budgeted) Overhead Expense $110917
Actual Direct Labor Hours $10436
Estimated Direct Labor Hours $11198
Business
1 answer:
Anton [14]3 years ago
8 0

Answer:

Bob's predetermined overhead rate = 9.91

Explanation:

Calculation for predetermined overhead rate

Predetermined overhead rate = Estimated (Budgeted) Overhead Expense / Estimated Direct Labor Hours

Predetermined overhead rate = 110917 / 11198

Predetermined overhead rate = 110.917 / 11.198

Predetermined overhead rate = 9.91

You might be interested in
Santiago Incorporated has a constructing company in which he does major constructing jobs and also leases his heavy-duty equipme
Dafna11 [192]

Answer:

"Direct Method" is the right answer.

Explanation:

  • The direct approach provides a clearer overview of how a company receives currency. And therefore it is regarded as equivalent to the alternative manner.
  • Compared to the price of something like the money market account throughout the particular circumstance, the above direct method of registering cash balance somewhat from operations would be advised.
4 0
3 years ago
In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one year bank loan with a debit to
OleMash [197]

In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one-year bank loan with a debit to cash and a credit to interest revenue. The most effective method for detecting this type of error is to Send a bank confirmation as of year-end.

A business may additionally have sales in a given time period that includes invoices they have got sent out to customers, in addition to coins bills that have been made at the time of a buy. All of these incomes are included as revenue during that term.

Sales are described as the profits generated through a commercial enterprise' number one operations. Its miles are often known as the “pinnacle line” and are proven at the top of an earnings announcement. internet income is an accounting time period that refers to the entire revenue minus the entire costs for any given length.

Learn  more about revenue here brainly.com/question/16232387

#SPJ4

7 0
1 year ago
King Mechanic is a very profitable automobile repair shop. The company is well known for its great service and involvement in th
Sophie [7]

Answer:

Social

Explanation:

Social responsibility refers to an individual or organization's obligations towards society to protect and preserve environment and natural resources. Organizations are supposed to earn profits without hampering the environment.

Here, King Mechanic earns profit but fails to fulfill social responsibility of disposing used oil safely as instructed in the environmental regulations.

4 0
3 years ago
Chadwick Enterprises, Inc., operates several restaurants throughout the Midwest. Three of its restaurants located in the center
zalisa [80]

Answer:

1. $2.5 million

2. $0

Explanation:

1. Since the book value is more than the generated future cash flows so book value cannot be recovered. In this case, the generated future cash flows are ignored  

In this scenario, we compare the values between book value and the fair value of machinery, the difference would be the loss on impairment of the asset

In mathematically,  

= Book value  - fair value

= $6.5 million  - $4.0 million

= $2.5 million

2. In this case, the sum of future cash flows is exceeded than the book value. So, no impairment loss would be recognized i.e zero amount

6 0
3 years ago
Assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. T
ra1l [238]

Answer:

Debit Expenses $90,000; credit Accrued wages and salary $90,000

Explanation:

If we assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. The employees paid from the general fund had earned $90,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30).

The entry, if any, should be made in the city’s general fund on June 30 is to: Debit Expenses $90,000; credit Accrued wages and salary $90,000

The amount has been incurred in the month but has not been paid hence it has to be captured as expenses for the month of June while the double entry will be that the amount is captured as accrued wages signifying that it has not been paid within the period it was incurred

5 0
3 years ago
Read 2 more answers
Other questions:
  • Anton Co. uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 400 units of inventory
    15·1 answer
  • Ok 1 more!!!!!!!!!!!!!!!!!!!!
    9·1 answer
  • Fly-By-Night Couriers is analyzing the possible acquisition of Flash-in-the-Pan Restaurants. Neither firm has debt. The forecast
    10·1 answer
  • Which of the following selections effectively use the "you" view.
    8·1 answer
  • Bagley Corporation expects to incur $900,000 of factory overhead and $600,000 of general and administrative costs next year. Dir
    7·1 answer
  • The Grow Your Garden seed company recently conducted a situation analysis. It decided on its marketing goals too. What is its ne
    8·1 answer
  • Given the following information about each economy, either calculate the missing variable or determine that it cannot be calcula
    6·1 answer
  • Simkin Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below:
    9·1 answer
  • On-shelf in stock percentage best describes a product availability metric for a ______.
    11·1 answer
  • harley purchased a set of pens. including the 3% sales tax, harley payed $12.40. how much was the set of pens before tax?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!