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
vovangra [49]
3 years ago
5

During the current year, Elk Company incurred the following direct labor costs: January $40,000 and February $60,000. Elk uses a

predetermined overhead rate of 120% of direct labor cost. Estimated overhead for the 2 months, respectively, totaled $39,000 and $71,400. Actual overhead for the 2 months, respectively, totaled $50,000 and $67,000. Was overhead under- or overapplied during January and by how much?
Business
1 answer:
Rom4ik [11]3 years ago
5 0

Answer:

January Overheads are <u>under-applied</u> by $2,000.

Explanation:

When,

Actual overheads > Applied overheads we say overheads are under-applied.

Actual overheads < Applied overheads we say overheads are over-applied.

Where,

Applied overheads = Predetermined overhead rate × Actual Activity

Therefore,

Applied overheads (January) = 120% × $40,000

                                                = $48,000

Actual overheads (January) = $50,000.

Conclusion

It can be seen that from the above : Actual overheads : $50,000 > Applied overhead : $48,000, therefore overheads were under-applied.

Amount of under-applied overheads = $50,000 - $48,000

                                                             = $2,000

You might be interested in
Online, immediate status updates from Airlines about their flights is an example of e-commerce's effect of:
olga2289 [7]

Answer:

D) Homogenization of time and routinization

Explanation:

E-commerce software has changed a highly customized activity (determining where and how an individual could fly to) and reduced it to a simple routine. Customers can check their flight status whenever they want. They do not have to wait to contact a travel agent or even wait for a travel agency to open. Therefore time has been homogenized and transactions routinized.

7 0
2 years ago
Which situation best illustrates the role of businesses in the circular flow of<br> goods?
OLEGan [10]

Answer:

A

Explanation:

now am not sure but i think the answer is A

4 0
3 years ago
Read 2 more answers
Major federal eeo laws have been enacted to prevent discrimination against groups of workers most often affected by unfair emplo
mr Goodwill [35]

Major federal EEO laws have been enacted to prevent discrimination against groups of workers most often affected by unfair employment practices. these groups are referred to as  protected classes.

<h3>What is federal EEO laws ?</h3>

The U.S. Equal Employment Opportunity Commission (EEOC)  can be described as the law that help to  guide against the illegal things with regards to the  discriminatation in  job applicant or an employee.

It should be noted that Major federal EEO laws have been enacted to prevent discrimination against groups of workers most often affected by unfair employment practices. these groups are referred to as  protected classes.

Learn more about federal laws at:

brainly.com/question/12486518

#SPJ1

5 0
1 year ago
Describe the difference between cost of goods and operating expenses.
MrRissso [65]

Both operating expenses and cost of goods sold (COGS) are expenditures that companies incur with running their business. However, the expenses are segregated on the income statement. Operating expenses and COGS measure different ways in which resources are spent in the process of running a company.

8 0
2 years ago
Often, it is difficult to name a home country for a(n) ________ business
velikii [3]
Small business is difficult in the economy because its self made

8 0
3 years ago
Other questions:
  • The overall design of organization structure indicates all of the following except: Group of answer choices
    9·1 answer
  • Do you think that modern society has contributed to the number of youth suicides? Why or why not?
    12·2 answers
  • An operations costing system is:
    11·1 answer
  • Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2016:
    13·1 answer
  • on average, someone with a bachelor's degree is estimated to earn _ times mire than someone with a high school diploma
    14·1 answer
  • Maximal oxygen uptake ________ throughout adulthood, a trend that is related to the __________ in maximum heart rate and in musc
    10·1 answer
  • Why drill should be performed in single beat?​
    10·1 answer
  • You manage inventory as per the Economic Order Quantity (EOQ) model. However, you realize that you incorrectly specified the fix
    11·1 answer
  • What is gross pay?
    9·1 answer
  • following the rational rule for sellers, how does output for a seller who has market power compare to output for a seller who do
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!