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Amiraneli [1.4K]
3 years ago
8

10) Before the year began, Murphy Manufacturing estimated that manufacturing overhead for the year would be $175,500 and that 13

,000 direct labor hours would be worked. Actual results for the year included the following: actual manufactring overhead cost : 184,000 actual direct labor hours : 14500 the amount of manufacturing overhead allocated for the year based on direct labor hours would have been ?
Business
1 answer:
QveST [7]3 years ago
4 0

Answer:

Explanation:

What is given:

Budgeted overhead = 175,500

Budgeted labour hours = 13,000

So Budgeted overhead per hour = 175500/13000 = 13.5

Actual labor hours = 14,500

Amount of manufacturing overhead allocated for the year based on direct labour hours = 14,500*13.5 = 195,750

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The actual cost of direct labor per hour is 16.00 and the standard cost of direct labor per hour is 15.50. The direct labor hour
blondinia [14]

Answer: $3,875 Favorable

Explanation: We can compute direct labor efficiency variance by using following formula :-

Direct labor efficiency variance = standard rate ( actual hours - standard hours)

where,

standard hours = 5,500units * 0.5 hour = 2750 hours

actual hours = 3,000 hours

standard rate = $15.5

putting the values into equation we get :-

Direct labor efficiency variance =  $15.5  ( 3,000 - 2750)

                                                    = $3,875 Favorable

5 0
3 years ago
Which information would most likely cause a company's stock price to go up?
egoroff_w [7]

Answer:

The company releases an innovative car with unique features

Explanation:

6 0
2 years ago
Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manuf
Firdavs [7]

Answer:

The machine should be leased because it is cheaper when compared to buying the machine.

Explanation:

To determine which option kiddy should choose , we are to calculate the net present value of buying the machine and the present value of payments thay kiddy would make if they lease the equipment.

Net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator:

Cash flow in year 0 = $-161,000

Cash flow each year from year 1 to 11 = $-6,000

Cash flow in year 12 = $-6,000 + $11,000 = $5,000

I = 11%

NPV = $-196,809.89

Present value of lease payment

Cash flow each year from year 1 to 11 = $-26,000

I = 11%

PV = $-161,369.40

The machine should be leased because it is cheaper when compared to buying the machine.

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

Present value can be calculated using the same steps as above

I hope my answer helps you

8 0
3 years ago
The cash basis method of accounting requires revenue to be recognized when performance obligations are satisfied. (If false, ide
xxTIMURxx [149]

Answer:

True

Explanation:

Unlike Accrual basis accounting the cash basis method of accounting requires revenue to be recognized when performance obligations are settled rather than when they are incurred.

The major difference between cash and accrual accounting is in the timing of when transactions are taken account of. Whereas Accrual accounting recognizes transactions when they occur (i.e. expenses when they are incurred and revenue when they are earned) Cash accounting recognizes revenue and expenses only when cash is paid.

6 0
2 years ago
Bell expects to produce 1 comma 800 units in January and 2 comma 155 units in February. The company budgets 3 pounds per unit of
Debora [2.8K]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Production:

January= 1,800 units

February= 2,155 units

The company budgets 3 pounds per unit of direct materials at a cost of $ 10 per pound.

Beginning inventory= 4,950 pounds.

Desired ending inventory= 20​% of the next​ month's direct materials needed for production.

Desired ending balance for February is 4,860 pounds.

To calculate purchases, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

<u>January (in pounds):</u>

Production= 1,800*3= 5,400

Desired ending inventory= (2,155*3)*0.2= 1,293

Beginning inventory= (4,950)

Total= 1,743

Total cost= 1,743*10= $17,430

<u>February (in pounds):</u>

Production= 2,155*3= 6,465

Desired ending inventory= 4,860

Beginning inventory= (1,293)

Total= 10,032

Total cost= 10,032*10= $100,320

3 0
3 years ago
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