Serious violations can earn prisoners a "_________," a disciplinary report forwarded to a higher authority for action.

Gene Simmons Company uses normal costing in each of its three manufacturing departments. Factory overhead is applied to producti

kolbaska11 [484]

Answer:

Required A

Part 1

Actual overhead rate = Actual Overheads ÷ Actual hours used

Therefore,

Dep A = $35,640 ÷ 8,100 = $4.40

Dep B = $36,040 ÷ 1,440 = $25.03

Dep C = $38,220 ÷ 1,280 = $29.86

Part 2

Overheads applied = Overhead rate × hours used

Therefore,

Overheads applied = $4.40 × 650 hours = $2,860

Part 3

1. Actual costing delays product costing as the information is only available after the period.

2. Difficult to deal with for fluctuating or seasonal sales as new rates always need to be calculated.

Required B

Part 1

1. Product Costing can be done on time hence price setting can also be done at an earlier stage.

2. Rates are determined consistently for fluctuating or seasonal sales

Part 2

Predetermined overhead rate = Budgeted Overheads ÷ Budgeted hours

Therefore,

Dep A = $380,000 ÷ 95,000 = $4.00

Dep B = $420,000 ÷ 70,000 = $6.00

Dep C = $510,000 ÷ 35,000 = $14.57

Part 3

Overheads applied = Predetermined overhead rate × hours used

Therefore,

Overheads applied for January,

Department A = $4.00 × 8,100 hours = $32,400

Department B = $6.00 × 1,440 hours = $8,640

Department C = $14.57 × 1,280 hours = $18,649.60

Part 4

If Actual Overheads > Applied Overheads, we say overheads are under-applied,

and

If Applied Overheads > Actual Overheads, we say overheads are over-applied.

Therefore,

Department A :

Actual Overheads = $35,640

Applied Overheads = $32,400

Therefore, overheads are under-applied by $3,240

Department B :

Actual Overheads = $36,040

Applied Overheads = $8,640

Therefore, overheads are under-applied by $27,400

Department C :

Actual Overheads = $38,220

Applied Overheads = $18,649.60

Therefore, overheads are under-applied by $19,570.40

Part 5

Department A

Cost of Sales = $3,240

Department B

Cost of Sales = $27,400

Department C

Cost of Sales = $19,570.40

Part 6

Department A

Cost of Sales = $3,240

Department B

Cost of Sales = $27,400

Department C

Cost of Sales = $19,570.40

Explanations :

See the formulas and calculations tied together with the solution above.

Note that :

If Actual Overheads > Applied Overheads, we say overheads are under-applied,

and

If Applied Overheads > Actual Overheads, we say overheads are over-applied.

Also that ,

Balances in the Overheads Account are closed off against the Cost of Goods Sold in the Income Statement.

7 0

3 years ago

When buying on margin, brokers typically charge Blank______ interest. Multiple choice question. no low high\

jeka94

When buying on margin, brokers typically charge low interest.

<h3>What is margin?</h3>

Margin is the sum of money borrowed from a broker to pay for an investment; it is equal to the difference between the investment's entire value and the loan sum.

In the field of finance, the term "margin" has many different definitions. A company's profitability can be determined by looking at its profit margin. Margin is a deposit made by an investor to open a position in the realm of futures trading. In contrast, the margin in stock trading is cash borrowed from a broker. However, before taking out one of these loans, keep in mind that interest will be charged on money borrowed in margin accounts.

To know more about interest refer to: brainly.com/question/13324776

#SPJ4

3 0

2 years ago

Someone with dollar bills to lend will never agree to make a loan with a nominal interest rate of less than zero because:

saw5 [17]

Having a nominal interest rate less than 0 would mean that a depositor pays a bank to hold its money. If the annual nominal interest rate is negative 1 percent, a deposit of $1000 dollar would come out $10 dollar short the following year which is why someone with dollar bills will never agree to loan with a nominal interest rate that is negative percent.

7 0

3 years ago

Pearson Company bought a machine on January 1, 2014. The machine cost $144,000 and had an expected salvage value of $24,000. The

allsm [11]

Answer:

Book value= $96,000

Explanation:

Giving the following information:

Pearson Company bought a machine on January 1, 2014. The machine cost $144,000 and had an expected salvage value of $24,000. The life of the machine was estimated to be 5 years.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Straight-line depreciation= (144,000 - 24,000)/5= 24,000

Accumulated depreciation= 24,000*2= 48,000

Book value= 144,000 - 48,000= 96,000

6 0

3 years ago

The article that came to the conculsusion that the addition of information technology to a business did not provide any improvem

LuckyWell [14K]

Answer:

The Productivity Paradox of Information Technology: Review and Assessment.

6 0

2 years ago