1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Phantasy [73]
3 years ago
11

Peterson Company estimates that overhead costs for the next year will be $3,400,000 for indirect labor and $850,000 for factory

utilities. The company uses machine hours as its overhead allocation base. If 85,000 machine hours are planned for this next year, what is the company's plantwide overhead rate? (Round your answer to two decimal places.)
Business
1 answer:
GREYUIT [131]3 years ago
3 0

Answer:

Predetermined manufacturing overhead rate= $50 per machine-hour

Explanation:

Giving the following information:

Estimated overhead costs= $3,400,000 for indirect labor

Estimated overhead costs= $850,000 for factory utilities.

85,000 machine hours are planned for this next year

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (3,400,000 + 850,000) / 85,000

Predetermined manufacturing overhead rate= $50 per machine-hour

You might be interested in
Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no b
Sveta_85 [38]

Answer:

$136

Explanation:

Date      Transaction       Units         Cost           Total          

3             Purchase             5            $20             $100

10            Sale                     3

17            Purchase            10            $24            $240

20           Sale                     6

23           Sale                     3

30           Purchase           10             $30            $300

using the first in, first out method, the COGS is calculated based on the oldest price of the units in merchandise inventory:

6 units were sold on May 20th, 2 of them costed $20 (May 3rd purchase) per unit = $40, while 4 of them costed $24 (May 17th purchase) = $96. Total COGS = $40 + $96 = $136.

7 0
3 years ago
Which student best fills the role of group notetaker? Yuna, who is positive and considers other viewpoints Hiroto, who is focuse
Juliette [100K]
Sora is the best group note taker; she meets are the criteria.
3 0
3 years ago
In a process costing system, the number of units started and completed for a period is equal to: Multiple Choice Units transferr
riadik2000 [5.3K]

Answer:

Units transferred out less units in beginning work in process.

Explanation:

A process costing system is generally used when similar or identical products are mass produced.

To determine the total number of units transferred out = beginning work in process + units started and transferred out - ending work in process

To determine the amount of units started and completed = total units transferred out - beginning work in process

6 0
3 years ago
Washburn Company produces earbuds. During the year, manufacturing overhead costs are estimated to be $216,000. Estimated machine
Snezhnost [94]

Answer:

1. Predetermined Overhead Rate = Manufacturing overhead costs  / Machine Hours

Predetermined Overhead Rate = $216,000/2,700 hours

Predetermined Overhead Rate = $80 per machine hour

2. Allocated overheads =Predetermined Overhead Rate * Machine hours used by Job 551

Allocated overheads = $80 * 90 machine hour

Allocated overheads = $7,200

3. Date     Description                             Debit     Credit

 15/01     Work In Progress Inventory    $7,200      

                   Manufacturing overhead                   $7,200

               (To record allocation of overheads towards Job 551)

5 0
3 years ago
Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. however, this
Lisa [10]
The answer is <span>c. what proportion of the bank's visa cardholders pay less than $15 in interest? as that is the best question.</span>
7 0
3 years ago
Other questions:
  • Which behaviors might lead someone to have a low credit score?
    8·2 answers
  • In 2002, Australia's highest court ruled on a defamation case in which an Australian citizen claimed to have been defamed by a D
    14·1 answer
  • Companies benefit today from interfirm cooperation. One of the ways they cooperate is through networking. Another way is by seek
    8·2 answers
  • In order for "limit pricing" to be effective, the firm practicing such a strategy must be able to charge a price that is:_______
    6·1 answer
  • Included in the statement of stockholders' equity are a.assets, income, and expenses. b.assets, liabilities, and stockholders' e
    9·1 answer
  • Flint Corporation traded a used truck (cost $21,600, accumulated depreciation $19,440) for a small computer with a fair value of
    5·1 answer
  • Insight Guides,a line of travel books,provides travelers with background information about people's beliefs,values,and customs i
    11·1 answer
  • Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $580,000, vari
    7·1 answer
  • Imagine that you and a friend have developed a new sneaker and would like to manufacture the sneaker and sell it to Foot Locker.
    13·1 answer
  • Which of the following do you NOT need to open a checking account?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!