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Lyrx [107]
3 years ago
10

12. Fun Corp makes playgrounds for schools and day care centers. At the end of May, the total ending balance of work in process

inventory account was $14,670 comprising of three unfinished jobs, Job# 56 with $4,200 in materials and 15 hours worked; job # 58 with $6,470 in materials and 18 hours worked; and last it had job #61 with $1,540 in materials and 8 hours worked. The total of cost of goods sold for the month was $15,330. The company had no inventory left in the finished goods account. Fun pays its workers $20 an hour and overhead is 200% of total labor cost paid. Manufacturing overhead for May was overallocated by $1,200. What is the adjusted ending balance for Job #58 if the overallocated amount is disposed of by prorating using ending balances?
Business
1 answer:
MissTica3 years ago
6 0

Answer:

$  7,248

Explanation:

Prorating:

                       Before      Rate                          

WIP                    14,670   14,670/30,000 = 0.489

FInished Goods        0

COGS                15,330  15,330 / 30,000 = .511

Total                   30,000

Allocation of overapplied overhead to WIP

1,200 x 0.489 = $ 586.8

Allocation to Job #58

<u />

Overhead Job #58: Total cost:

Materials 6,470

18 hours x $20 = 360 labor cost

360 labor cost x 200% overhead rate = 720 applied overhead

Total cost (before prorating): 7,550

586.8/14,670 x 7,550 = 302

<u>Adjusted balance:</u>

Materials 6,470

Labor cost: 360

Overhead: 720 - 302 = 418

Total 7,248

We subtract as the overhead was overapplied, we capitalzie more cost than we should.

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Working women experienced new freedoms in the Progressive era because: a. young immigrant factory workers gained independence fr
Triss [41]

Answer:

The correct answers are: a. young immigrant factory workers gained independence from the traditional control of their fathers. and b. employment opened up to married white women.

Explanation:

The progressive era was a period of widespread social activism and political reform throughout the United States, spanning from the 1890s to the 1920s. The main objectives of the progressive movement were to eliminate the problems caused by industrialization, urbanization processes, immigration and political corruption.

Across the nation, middle-class women organized themselves in the name of social reform during the progressive era. Women were able to promote reforms such as the prohibition of alcohol, female suffrage, childcare and public health.

They formed local clubs, which after 1890 were coordinated by the General Federation of Women's Clubs (GFWC).

Women during the progressive era were often unhappy and did not enjoy their sexual intercourse, middle-class women known to bring about changes, specifically in cities like New York City, questioned the approach to marriage and sexuality. After the Victorian era, women craved more sexual freedom after the repression of the previous stage. Dating became a new form of relationship during the progressive era and introducing into the United States a more romantic way of seeing marriage and personal relationships. Within many commitments and marriages, both parties would exchange love notes as a Way to express your sexual feelings. The division between passionate and aggressive love generally associated with men and the most spiritual romantic love of women became evident in the middle class as women were judged on how they should be respected according to how they expressed these feelings. Therefore, women frequently expressed emotions without passion towards love, as a way of establishing their status among men in the middle class.

7 0
3 years ago
Knowing that $45,500 is a very good price for an LS-400, Mike is the first customer to appear at the Larson lot on Saturday, Oct
Grace [21]

Answer:

Yes

Explanation:

Based on the information provided within the question we can say that Yes, the dealership is contractually bound to sell Mike the car at that price. This is assuming that the ad handed to the dealership by Mike is an actual ad that was designed and published by the dealership. If this is the case the dealership must uphold their price or it will be considered false advertisement and Mike would have a basis on which to sue the business.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
A bond has a par value of $1,000, a current yield of 6.84 percent, and semiannual coupon payments. The bond is quoted at 100.39.
Usimov [2.4K]

Answer: $34.33

Explanation:

From the question, we are informed that bond has a par value of $1,000, a current yield of 6.84 percent, and semiannual coupon payments and that the bond is quoted at 100.39.

Thee amount of each coupon payment goes thus:

We have to calculate the bond price which will be:

= $1000 × 100.39%

= $1000 × 1.39

= $1003.9

It should be noted that the current yield is calculated as the annual coupon amount divided by the bond price. This will be:

6.84% = annual coupon amount ÷ $1003.9

Annual coupon amount = $1003.9 × 6.84%

= $1003.9 × 0.0684

= $68.67

Each coupon amount will now be:

= $68.67/2

= $34.33

6 0
3 years ago
A three-year annuity-immediate will be issued a year from now with annual payments of 5,000. Using the forward rates, calculate
vladimir1956 [14]

Answer:

13,152.5

Explanation:

Given the the above parameters as mentioned in the question

To calculate the PV (Present Value)

We have PV = 5000 * 1.05 * [ 1/(1.0575)² + 1/(0.625)³ + 1/(1.065)⁴]

PV = 5000 * 1.05 * (0.8942094350 + 0.8337064929 + 0.7773230908) =

=> PV = 5000 * 1.05 * 2.5052390187

= 13,152.50

Therefore, in this case, using the forward rates, the present value of this annuity a year from now is 13,152.50

6 0
3 years ago
A perfectly competitive firm will minimize its losses by shutting down when:
Archy [21]

Answer:

A perfectly competitive firm will minimize its losses by shutting down when: P < TFC at the profit-maximizing level of output. P < MC at the profit-maximizing level of output.

Explanation:

A firm will choose to implement a production shutdown when the revenue received from the sale of the goods or services produced cannot cover the variable costs of production. In this situation, a firm will lose more money when it produces goods than if it does not produce goods at all. Producing a lower output would only add to the financial losses, so a complete shutdown is required. If a firm decreased production it would still acquire variable costs not covered by revenue as well as fixed costs (costs inevitably incurred). By stopping production the firm only loses the fixed costs.

3 0
3 years ago
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