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aliina [53]
3 years ago
10

Factory Overhead Rates, Entries, and Account Balance Sundance Solar Company operates two factories. The company applies factory

overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 - Factory 2 Estimated factory overhead cost for fiscal year beginning March 1 $12,900,000 - $10,200,000 Estimated direct labor hours for year 250,000 Estimated machine hours for year 600,000 Actual factory overhead costs for March $12,990,000 - $10,090,000 Actual direct labor hours for March 245,000 Actual machine hours for March 610,000 a. Determine the factory overhead rate for Factory 1. $ per machine hour b. Determine the factory overhead rate for Factory 2. $ per direct labor hour
Business
1 answer:
Kipish [7]3 years ago
8 0

Answer:

A) $21.50 per machine hour

B) $40.80 per direct labor hour

Explanation:

A) factory 1 overhead ⇒ on the basis of direct machine hours.

overhead rate factory 1 = estimated total overhead costs factory 1 / estimated machine hours

= $12,900,000 / 600,000 machine hours = $21.50 per machine hour

B) factory 2 overhead ⇒ on the basis of direct labor hours.

overhead rate factory 2 = estimated total overhead costs factory 1 / estimated labor hours

= $10,200,000 / 250,000 labor hours = $40.80 per direct labor hour

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Mrrafil [7]

Answer:

            Ernst Consulting

             Balance Sheet

For the Month Ended October 31, 202x

Assets:

Cash $12,650

Accounts receivable $12,800

Office supplies $2,850

Office equipment $17,530

Land $45,940

Total assets $91,770

Liabilities and stockholders' equity:

Accounts payable $8,110

Common Stock $83,540

Retained earnings $120

Total liabilities and stockholders' equity $91,770

Explanation:

I ordered the accounts and included a couple that were missing:

  • Cash 12,650
  • Accounts receivable 12,800
  • Consulting revenue 12,800
  • office supplies 2,850
  • Land 45,940
  • office equipment 17,530
  • Accounts payable 8,110
  • Cash dividends 1,570  
  • Common Stock 83,540
  • Rent expense 3,110
  • Salaries expense 6,490
  • Telephone expense 850
  • Miscellaneous expenses 660

First we need to determine net profit for the month:

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Salaries expense -6,490

Rent expense -3,110

Telephone expense -850

Miscellaneous expenses -660

net profit = $1,690

retained earnings = net profit - dividends distributed = $1,690 - $1,570 = $120

7 0
3 years ago
Why does the law of increasing opportunity cost occur?
Elena L [17]

Answer:

The correct answer is A and B

Explanation:

Law of increasing the opportunity cost is the principle or the concept which is defined as the company continue to increase the production of one good, the opportunity cost of producing the next unit will increase.

It is as to reallocate the resources in order to produce that one good which was better or best suited to produce the original good.

The law of opportunity cost occur when some of the resources are best suited for some tasks or products instead of others and it will lead to increase in production with increase in the opportunity cost too.

8 0
3 years ago
In late​ 2018, malnutrition was widespread in Venezuela. Writing in an opinion column in the New York Times​, Javier Corrales​ a
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Answer: B. No. Imposing a price control below the equilibrium price in a market causes the quantity of the good available to consumers to fall because sellers will supply a smaller​ quantity, thereby causing some consumers to go without food that they would have been able to buy in the absence of the price control.

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If price controls are introduced below the equilibrium price in the market, farmers or sellers will supply less to the market because they will not be incentivized to produce more seeing as they are not making what they should be making.

This, coupled with increased demand on account of food being cheaper, will lead to shortages which would mean that those that could have been able to afford the food at the equilibrium price would not be able to access food leading to even worse food shortages.

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3 years ago
One benefit of specialization is that it​
tiny-mole [99]
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Which of the following is the most likely explanation for the imposition of a price ceiling on the market for milk? a. Policymak
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Answer: i think the third one maybe... (APEX)

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