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nordsb [41]
3 years ago
15

Worker Corporation allocates its single support department to its operating departments based on the single rate method using ma

chine hours. The following information has been gathered for the assembly department, one of the two operating departments: Actual Budgeted Fixed costs $50,000 $47,960 Machine hours – Assembly 1,900 1,976 Variable costs – Assembly $121,000 $120,000 What is the cost-allocation rate for the assembly department using the single-rate method?
Business
1 answer:
Firlakuza [10]3 years ago
7 0

Answer:

$85 per machine hour

Explanation:

                                                                Actual           Budgeted

Fixed costs                                           $50,000          $47,960

Machine hours – Assembly                   1,900               1,976

Variable costs – Assembly                 $121,000         $120,000

since the single rate method does not distinguish between fixed or variable costs, in order to determine the cost allocation rate we must add the fixed allocation rate and the variable allocation rate:

  • variable allocation rate = $120,000 / 1976 machine hours = $60.73
  • fixed allocation rate = $47,960 / 1976 = $24.27

total = $60.73 + $24.27 = $85 per machine hour

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andre [41]

Answer: 1. No.

2. Yes.

Explanation:

Price Discrimination is a pricing strategy where suppliers/producers or sellers sell a good to different people at different prices depending largely on their preference and/or capacity to pay for the commodity i.e, if you want it more, you are charged more.

1. Johnny did not like to play Hopscotch, so offering Suzie one day of Hopscotch for two days of bug hunting is fair and no price discrimination occured as he did not offer these terms to someone else who's game he did not like.

2. Sam knew that Johnny really liked playing Slaps so he leveraged on that and offered him more expensive terms so to speak than he did to Bill even though he liked playing the both games equally. This means that he charged Johnny more than Bill simply because Johnny liked and preferred his game alot which is Price discrimination.

4 0
2 years ago
etermining Gross Profit During the current year, merchandise is sold for $990,000. The cost of the merchandise sold is $693,000.
otez555 [7]

Answer:

Results are below.

Explanation:

<u>A: To calculate the gross profit, we need to use the following formula:</u>

Gross profit= sales - cost of goods sold

Gross profit= 990,000 - 693,000

Gross profit= $297,000

B: <u>Now, the gross profit percentage:</u>

Gross profit percentage= (gross profit / sales)*100

Gross profit percentage= (297,000 / 990,000)*100

Gross profit percentage= 30%

C: F<u>inally, a net income is reported in the income statement at the moment of the sale</u>. It doesn't matter if the sale was paid or not.

6 0
2 years ago
Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate f
AysviL [449]

Answer:

Total deduction                               2,443.21

Explanation:

8,288

x 6.20% Sccial Security                      513.856

x 1.45% Medicate                                120.176

x 6.20% FUTA&SUTA  (for 7,000)       434              

Income tax witheld                           1,375.17

Total deduction                               2,443.21

We will multiply his taxable wages for period by the tax rate.

We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288

3 0
3 years ago
Different budgeting periods and explain each one
RideAnS [48]
Budgeting period is an allocation of time to plan for your money and how or where it's gonna be used. There are two types of budgeting period: Short term and Long term.

Short-term Budgeting period

This budgeting period covers from 6 months to a year, depending on the nature of the business. For seasonal businesses, it should cover at least one seasonal cycle. For wholesale and retail businesses, 6 month is enough.

Long-term Budgeting Period

This covers more than a year of operating. It focuses on the futuristic performance of a business or company. Factors used are market trends, economic growth, inflation rates and industrial production. These factors help foresee profit or problems that may arise. Consequently, this will also help you in your present decisions.
5 0
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weqwewe [10]
Before going to the cost and benefits, lets take a look first at the total of what Tim makes for the two jobs. In the first job, he is paid $7 per hour for 3 hours so that is $21 total for the first job. The second job offer is $10 per hour for two hours so that is $20 for the entire second job offer. If he is going to take the first job, he will have $1 more than the second job, however, he has to work an extra hour. However, if he takes the second job, he receives $1 less but has one hour more for himself. So if he were to take the second job, it will be more beneficial to him because he can get almost the same amount but doesn't need to work as hard
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2 years ago
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