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kondor19780726 [428]
3 years ago
9

For Wilton Company, the predetermined overhead rate is 70% of direct labor cost. During the month, $360,000 of factory labor cos

ts are incurred of which $100,000 is indirect labor. Actual overhead incurred was $180,000. The amount of overhead debited to Work in Process Inventory should be: a. $182,000 b. $180,000 c. $252,000 d. $260,000 why did we get A as an answer?
Business
2 answers:
bezimeni [28]3 years ago
6 0

Answer:

The amount of overhead debited to Work in Process Inventory should be: a. $182,00

Explanation:

The Overheads are Applied in the Manufacturing Costs as:

Budgeted Rate × Actual Activity for the Month

At the End of the Period we would need to determined whether this amount of overhead is Over or Under Applied by comparing it to the actual overheads incurred of $180,000 (given)

In our Case,  the predetermined overhead rate is 70% of direct labor cost

<em>Thus we need to find the Direct Labor Cost first</em>:

Total Labor Costs               $360,000

<em>Less </em>Indirect Labor Costs<em>  </em>$100,000

Direct Labor Cost              $260,000

<em>Therefore Overheads applied would be determined as:</em>

= $260,000 × 70%

= $182,000

omeli [17]3 years ago
5 0

Answer: A. $182,000

Explanation:

Given the following ;

Factory labor cost = $360,000

Indirect labor cist = $100,000

Actual overhead = $180,000

Predetermined overhead = 70% of direct labor cost

The factory labor cost also refers to the total cost of labor ( both direct labor and indirect labor)

Direct labor cost = factory labor cost - indirect labor cost

Direct labor cost = $360,000 - $100,000 = $260,000

Therefore, predetermined overhead = 0.7 * 260,000 = $182,000

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Answer:

A buyer in the ordinary course of business who purchased the goods from a merchant

Explanation:

In finance, perfected security interest is an interest in a property that prevents other party from having claims on it legally.

It should be noted that With regard to a prior perfected security interest in goods for which a financing statement has been filed, the parties is most likely to have a superior interest in the same collateral is buyer in the ordinary course of business who purchased the goods from a merchant.

8 0
3 years ago
You are planning your retirement in 10 years. You currently have $169,000 in a bond account and $609,000 in a stock account. You
Over [174]

Answer:

$187,584.20

Explanation:

Firstly, we need to calculate the total future value (FV) of the bond account and stock account after 10 year from now (when you come to retirement age):

FV_bond at retirement = 169,000 x (1 + 7.25%)^10 + 7,100 x (1 + 7.25%)^9 + 7,100 x (1 + 7.25%)^8 + … 7,100 x (1 + 7.25%)^0 = 426,230.93

FV_stock at retirement = 609,000 x (1 + 10.75%)^10 = 1,690,653.63

Total FV of your investment portfolio = 2,116,884.57

Because you plan to use up all the funds in your account after 21 equal amount withdrawals after retirement, total present value <em>(at the time you retire not now)</em> of these withdrawals <em>(discounted at 6.5%)</em> have to be equal to the value of your invesment 10 years from now, or:

2,116,884.57 = C/(1+6.5%) + C/(1+6.5%)^2 + … + C/(1+6.5%)^21, with C is the amount you plan to withdraw each year.

Solve the equation we get C = 187,584.20

<em>Note: The equation can be solved easily using Excel or BAII Plus.</em><em> </em>

5 0
3 years ago
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katrin2010 [14]

Answer:

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Explanation:

8 0
2 years ago
Read 2 more answers
Assume that on July 1, 2018, Togo's Sandwiches issues a $2.97 million, one-year note. Interest is payable at maturity.
allsm [11]

Answer:

7% interest at Cec-31 for 6 months:

Dr Interest  expense(7%*$2,970,000*6/12) $ 103,950

Cr Interest payable                                                          $103,950

9% interest at Sept 30 for 3 months:

Dr Interest  expense(9%*$2,970,000*3/12) $66,825

Cr Interest payable                                                          $66,825

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Dr Interest  expense(6%*$2,970,000*4/12) $ 59,400

Cr Interest payable                                                          $59,400

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3 years ago
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levacccp [35]

Answer:

Option C is correct.

<u> When the game will be repeated infinitely.</u>

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The collaborations choose to work with boundlessly rehashed games by participating and embracing a socially ideal methodology.  

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8 0
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