Answer:
See explanation below as attached.
Explanation:
1. Predetermined overhead is 139% of direct labor hour
2. Under applied overhead is $6,200
Please find attached breakdown and solution to question 1, 2, 3, 4 and 5.
Answer:
$114,338
Explanation:
The computation of the amount that should be billed when 1,400 professional labor hours used
But before that determine the actual per hour salary and budgeted indirect cost per hour
Actual per hour salary
= Total actual salary ÷ Total actual professional hours
= ($110,000 × $20 + $30,000× 10) ÷ (60,000)
= ($2,200,000 + $300,000) ÷ (60,000)
= $41.67
And, the budgeted indirect cost per hour is
= $200,000 ÷ $50,000
= $40
Now the amount that should be billed is
= 1,400 hours × ($41.67 + $40)
= $114,338
Answer:
Cash received from customers is $66,000.
Explanation:
Cash Received from Customers is determined by opening a Total Accounts Receivables T- Account as follows :
Total Accounts Receivables T- Account
<u>Debit :</u>
Opening Balance $13,000
Sales $62,000
Totals $75,000
<u>Credit:</u>
Closing Balance $9,000
Cash <em>(Balancing figure)</em> $66,000
Totals $75,000
Conclusion:
Cash received from customers is $66,000.
Answer:
b. $640,000
Explanation:
The computation of the ending inventory using the periodic inventory system is as follows:
But before that the ending inventory units is
= Beginning inventory units + purchased units - sold units
= 400 + 800 + 1,200 + 800 - 3,000
= 200 units
Now the ending inventory is
= 200 units × $3,200
= $640,000
hence, the ending inventory using the periodic inventory system is $640,000
Therefore the correct option is B