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Ket [755]
3 years ago
7

Johansen Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The

Corporation has provided the following estimated costs for the next year: Direct materials $ 6,000 Direct labor $ 20,000 Rent on factory building $ 15,000 Sales salaries $ 25,000 Depreciation on factory equipment $ 8,000 Indirect labor $ 12,000 Production supervisor's salary $ 15,000 Jameson estimates that 20,000 direct labor-hours will be worked during the year. The predetermined overhead rate per hour will be:
Business
1 answer:
k0ka [10]3 years ago
4 0

Answer:

The overhead rate is $ 5.05

Explanation:

Direct materials $ 6000

Direct labour         $ 20,000

Rent on factory $ 15,000

Salaries                $ 25,000

Depreciation         $ 8,000

Indirect labour $ 12,000

Supervisor salary  <u>$ 15,000</u>

Total costs  <u>$101,000</u>

Direct hours  20,000

First, sum all the total costs to arrive at the total costs.

Then divide the total costs by the labour hours to arrive at overhead rate.

Overhead rate = total cost/labour hours

 =101,000/20,000

 =$ 5.05

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Balance sheet and income statement data indicate the following:
QveST [7]

Answer:

the times interest earned ratio is 5.87 times

Explanation:

The computation of the times interest earned ratio is shown below:

Interest expense is

= Bonds payable × Interest rate

= $1,106,989 × 6%

= $66,419

Now

Times interest earned ratio is

= (Income before income tax for year + Interest expense) ÷ Interest expense

= ($323,108 + $66,419) ÷ ($66,419)

= 5.87 times

Hence, the times interest earned ratio is 5.87 times

4 0
4 years ago
Peterson Company purchased machinery for $960,000 on January 1, 2014. Straight-line depreciation has been recorded based on a $6
Molodets [167]

Answer:

198,000

Explanation:

(960000 - 60,000) / 5 = 180k

Deprecation expense = 180,000 x 5 = 720,000

Deprecation expense from January to April = 4/12 x 180000

720 + 75h

4 0
3 years ago
In which part of a business plan would you find a description of the production technology, inventory procedures, quality issues
kaheart [24]

Answer:

BUSINESS OPERATIONS AND  ORGANIZATION

Explanation:

Business plan - a plan for the implementation of business operations, company actions, containing information about the company, product, its production, markets, marketing, organization of operations and their effectiveness. Business planning is the definition of goals and ways to achieve them, through any planned and developed action programs, which in the implementation process can be adjusted in accordance with the changed circumstances. According to the definition of the Modern Economic Dictionary and the Big Economic Dictionary, a business plan is a plan, a program for carrying out business operations, enterprise actions, containing information about the enterprise, product, its production, sales markets, marketing, organization of operations and their effectiveness. A business plan is drawn up to describe the stages and ways of conducting an entrepreneurial operation, its profitability and is used to convince partners (creditors) of the advisability of the upcoming transaction, operation. In the “Economic Dictionary”, a business plan is a document developed by an enterprise in which the main aspects of a planned commercial event are systematized. That is, a business plan is the result of a consolidated systematic planning of the enterprise; This is a document of a strategic plan for the creation / development of an enterprise’s business, reflecting the current state, goals and strategy of achieving the expected needs and development of the enterprise. A business plan may also be the result of one-time project planning to solve a specific strategic task; This is the main document of the investment project, which sets out the essence, main characteristics, financial results and economic efficiency of the project. Business planning is the development of a business plan, that is, a procedure for collecting, processing information, making a system of interconnected management decisions in order to obtain the expected result.

Usually, Business Plan contains in 8 parts:

1.Executive summary

2. Background

3. Products and services

4. Markets and clients

5. Business operations and organization  (the true answer to the question)

We can include there: location and premises, marketing and selling methodology, manufacturing,  distribution, order processing/inventory control, company structure/organization, project management and management information systems/reporting.

6. Human resources

7. Legal framework, and environmental and social factors

8. Financial planning

5 0
3 years ago
4. You find out that your aunt works for a defense manufacturing company that has several defense
nataly862011 [7]

Complete Question:

You find out that your aunt works for a defense manufactuing compnay that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. what kind of good is that; individual, merit, or public good?

Answer:

Public Good

Explanation:

It is public good as the contracts that the company has with the government is because that the government wants to invest in it as it is in the best interest of its people.

The central role of the government in any country is to bring prosperity and this is done by investing in infrastructure and meeting the expectations of its people by investing in different areas which includes defense, communication, transport, infrastucture development, education, health, etc. What we conculded is that the contract formed with the defense manufacturing company will be in the best interest of the people who have elected the government.

The company might be providing communication facilities associated with security to the natives which the government desires to achieve by contracting Defense Manufacturing company. So contract of the government with the defense manufacturing company is in the public good.

8 0
4 years ago
Future economic trends are not influenced by economic theories. True or false?
nikklg [1K]
That statement is false.
Economic theories will determine how companies see the market and will somehow affect the decision that they will make for the market.
This decision will influence the future economic trends because these companies usually are really forward thinkers. From this, we could draw a correlation between future economic trends and economic theories
5 0
4 years ago
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