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vladimir1956 [14]
2 years ago
8

Single Plantwide Factory Overhead Rate Kennedy Appliance Inc.’s Machining Department incurred $83,200 of factory overhead cost i

n producing hoses and valves. The two products consumed a total of 3,200 direct machine hours. Of that amount, hoses consumed 1,300 direct machine hours. Determine the total amount of factory overhead that should be allocated to hoses using machine hours as the allocation base. $
Business
1 answer:
elena-14-01-66 [18.8K]2 years ago
4 0

Answer:

applied overhead to hoses: 33,800

Explanation:

We calculate the rate by dividing the expected overhead over the cost driver:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

In this case, machine hours is the cost driver:

83,200 / 3,200 = 26

now applied ovehead:

machine hours x     rate

         1,300        x    26   = 33,800

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Use the following information to perform the calculations below (using the indirect method).
daser333 [38]

Answer:

a) cash flow from operating activities

net income $650,000

adjustments:

depreciation expense $96,000

accounts payable $38,000

accounts receivable -$22,800

inventory -$57,000

prepaid insurance -$8,400

net cash flow from operating activities $695,800

b) cash flow from investing activities

Sale of long term investments $57,500

Purchase of long term assets -$610,000

Long term assets exchanged for common stocks $113,000

net cash flow from investing activities -$439,500

7 0
2 years ago
Fitzgerald Supermarkets (FS) operates at capacity and decides to apply ABC analysis to three product lines: baked goods, milk an
Alex777 [14]

Answer:(1) Baked Goods profit $6,700, Milk and Fruit juice profit $200, Frozen Products profit $8,900 (2) Baked Goods profit $160, Milk and Fruit juice profit $2,870, Frozen Products Profit $12,860. (3) it provide insight to FS managers that Frozen Products is the most profitable among the three product lines.

Explanation:

(1) Baked Goods. Milk and Fruit juice. Frozen Products

$ $ $

Revenue. 60,000. 66,500. 50,500

Less : Cost of good sold 41,000. 51,000. 32,000

------------- -------------- ---------------

Gross Margin. 19,000. 15,500. 18,500

Less: Store Support. 12,300. 15,300. 9,600

----------- ------------ -------------

Profit. 6,700. 200. 8,900

------------- --------------- ----------------'

(2)

Baked Goods. Milk and Fruit juice. Frozen Products

$ $ $

Revenue. 60,000. 66,500. 50,500

Less Cost of good sold 41,000. 51,000. 32,000

------------- ---------------- -----------

Contribution. 19,000. 15,500. 18,500

Less Overhead

Ordering cost. 4,180. 2,280. 1,,330

Delivery&Receipt. 9,120. 4,560. 2,736

Shelf Stocking. 3,230. 2,850. 380

Customer Support & Assistant 2,310. 3,030. 1,194

------------ -------------- ------------

Profit. 160. 2,870. 12,860

------------------ ----------------- ---------------

(3) The new insight to FS managers is that Frozen Products is the most profitable among the three products lines

Workings

Ordering cost ($95 × 44) = 4,180 ($95 × 24) = 2,280 ($95 × 14) = 1,330

Delivery &Receipt ($76 × 120) = 9,120 ($76 × 60) = 4,560 ($76 × 36) = 2,736

Shelf Stocking ($19 × 170) = 3,230 ($19 × 150) = 2,850 ( $19 × 20) = 380

Customer Support &Assistant ($0.15 × 15,400) = 2,310 ($0.15 × 20,200) = 3,030 ($0.15 × 7,960)= 1,194

7 0
3 years ago
On November 30, 2020, a U.S. company purchased merchandise on credit from a Swiss supplier at an invoice price of CHF1,000, when
Ivanshal [37]

Answer:

The merchandise should be reported on the U.S. Company's December 31, 2020 balance sheet at:

b. $1,050

Explanation:

a) Data and Calculations:

November 30, 2020 Inventory purchase = CHF1,000

Exchange rate on this date = $1.05/CHF

Inventory worth = $1.05 * CHF1,000 = $1,050

b) The inventory should be reported on December 31, 2020 at $1,050.  It does not need to be reported at a value above or below this.  Even, the debt owed to the Swiss supplier will be reported at this price.  It is when payment for the invoice is being made on February 1, 2021 that consideration will be given to the exchange rate at which payment is made.

5 0
3 years ago
Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an in
wel

I need points so dont mind wat I'm putting

5 0
2 years ago
Use the following example to answer the questions that follow: Imagine that you deposit $25,000 in currency (which you had been
Anon25 [30]

Answer:

Money available for loans is $18,750

Explanation:

The formula for calculating the total amount of money a bank can loan is:

money available for loans = (1 - required reserve ratio) x total deposits

money available for loans = (1 - 25%) x $25,000 = 75% x $25,000 = $18,750

7 0
3 years ago
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