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Natasha_Volkova [10]
3 years ago
5

CWN Company uses a job order costing system and last period incurred $89,000 of actual overhead and $100,000 of direct labor. CW

N estimates that its overhead next period will be $66,000. It also expects to incur $100,000 of direct labor. If CWN bases applied overhead on direct labor cost, its predetermined overhead rate for the next period should be:
Business
1 answer:
swat323 years ago
5 0

Answer:

Predetermined overhead rate for the next period is $0.66 per $1 of labor cost

Explanation:

Predetermined overhead rate is calculated by dividing the Expected overhead by the Expected level of activity on which the overhead is applied. It is a rate at which the overhead is applied to a product / project/ department.

Predetermined overhead rate = Expected overhead / Expected activity

Predetermined overhead rate = Expected overhead / Expected direct labor cost

Predetermined overhead rate = $66,000 / $100,000

Predetermined overhead rate = $0.66 per $1 of labor cost

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A company uses the weighted average method for inventory costing. At the beginning of a period the production department had 54,
harkovskaia [24]
I’m not sure but 181,500
7 0
3 years ago
At the beginning of the tax year, Barnaby's basis in the BBB Partnership was $50,000, including his $5,000 share of partnership
drek231 [11]

Answer:

$62,000

Explanation:

Calculation to Determine Barnaby's basis at the end of the tax year

Using this formula

Ending tax year Barnaby's basis in the partnership=[BBB Partnership basis+( Share of debt-Share of partnership debt)+ Share of Partnership's income +Share of partnership's nontaxable income-Cash distributions]

Let plug in the formula

Ending tax year Barnaby's basis in the partnership =$50,000 + ($8,000-$5,000) + $20,000 + $1,000 - $12,000

Ending tax year Barnaby's basis in the partnership =$50,000 + $3,000 + $20,000 + $1,000 - $12,000

Ending tax year Barnaby's basis in the partnership = =$62,000

Therefore Barnaby's basis at the end of the tax year will be $62,000

5 0
3 years ago
What will happen to the firms equilibrium wage rate when the supply of labour decrease from 25 to 15? Explain with the help of d
Tpy6a [65]

Answer:

Wage rate = $960

Explanation:

Supply of labor is the number of hours workers are willing to work at a given real wage rate. When wage rate increases, supply of labor also increases because more people are encouraged as now they can obtain a higher income. When wage rate decreases, labor supply also decreases.

<em><u>View diagram</u></em>

In this case, however, there has been a decrease in supply, causing the supply curve to shift from S to S1. This can be due to many reasons such as migration, increase in minimum working age or increase in interest in education causing more people to study. When the supply of labor falls, there are less people available for work. Thus, demand exceeds supply, causing a shortage. Hence, the pressure causes price, i.e. wage rate to increase. To determine by how much the increase is, cross-multiplication can be used:

At 25 laborers, wage rate is $600 (25 = 600)

At 15 workers, wage rate is X (15 = X)

We now substitute for X, which is the amount by which wage rate will increase.

25 / 600 = 15 / X

Thus, 25X = 9000 (600 x 15)

9000 / 25 = X

X = 360.

Hence, wage rate at 15 laborers is 600 + 360 = $960

3 0
3 years ago
How are prices determined in a free market economy​
professor190 [17]
If it’s free then I don’t think they need to determine the price bc it’s free
5 0
3 years ago
Identify which are goals of monetary policy, and which are not. Goals of monetary policy Not goals of monetary policy Answer Ban
kondor19780726 [428]

Answer:

goals of monetary policy

financial market stability

economic growth

high employment

price stability

Not goals of monetary policy

increasing the size of the financial market

high inflation

improving banks' profits

Dual mandate :  high employment

price stability

Explanation:

Monetary policy are policies taken by the central bank of a country to increase or reduce aggregate demand.

There are two types of monetary policy :

Expansionary monetary policy : these are polices taken in order to increase money supply. When money supply increases, aggregate demand increases. reducing interest rate and open market purchase are ways of carrying out expansionary monetary policy

Contractionary monetary policy : these are policies taken to reduce money supply. When money supply decreases, aggregate demand falls. Increasing interest rate and open market sales are ways of carrying out contractionary monetary policy

Goals of monetary policy include

  • financial market stability
  • economic growth
  • high employment
  • price stability

The dual mandate of the Federal Reserve was birthed as a result of the stagflation of the 1970s. Stagflation is a period of high unemployment and high inflation levels

The dual mandate are : high employment, stable prices and moderate long-term interest rates.

4 0
3 years ago
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