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4 years ago

A summary of the time tickets for the current month follows:

Business

1 answer:

11111nata11111 [884]4 years ago

6 0

Answer:

Journal Entries:

General Journal

Description Debit Credit

Direct labor:

Job 100 $1,640

Job 101 1,360

Job 104 2,490

Job 108 2,870

Job 111 1,750

Job 115 1,150

Job 117 7,780

Factory overhead:

Indirect labor 8,740

Factory labor costs $27,780

To record the labor costs to jobs and indirect labor

Explanation:

Factory labor costs consist of direct labor costs which are attributed to the specific jobs and the indirect labor costs which cannot be traced to any particular job. These are treated as factory overhead costs.

The journal entries recording the labor costs for each job, debit the indicated job title while crediting the factory labor costs.

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Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (

Fofino [41]

Answer and Explanation:

The direct labor overhead rate using the direct labor hours is shown below:-

Direct labor overhead rate = Total overheads ÷ Direct labor hours

= $220,800 ÷ 1,725

= $128

b. The machine hour overhead rate using the machine hours is

= Total overhead ÷ Machine hours

= $220,800 ÷ 4,600

= $48

The factory overhead costs using direct labor hour is

Particulars Automobile Valve Wheels Total

bumpers covers

Direct labor

hours 730 480 515

Overhead rate $128 $128 $128

Total $ 93,440 $61,440 $65,920 $220,800

For determining the total overhead we simply multiply the direct labor hours with overhead rate.

The factory overhead costs using machine hour is

Particulars Automobile Valve Wheels Total

bumpers covers

Machine hours 1,970 1,270 1,360

Overhead rate $48 $48 $48

Total overhead $94,560 $60,960 $65,280 $220,800

For determining the total overhead we simply multiply the machine hours with overhead rate.

7 0

3 years ago

What is the total return for a stock that currently sells for $100, pays a dividend in one year of $2, and has a constant growth

Kobotan [32]

What is the total return for a stock that currently sells for $100, pays a dividend in one year of $2, and has a constant growth rate of 8 percent?

Total return will be 10%.

What is total return?

The overall return is shown as a proportion of the initial investment. For instance, a total return of 20% signifies that the asset's value increased by 20% overall as a result of price growth, dividend payments (if the security is a stock), coupon payments (if the security is a bond), or capital gains (if a fund).

R = 10%

10% is the total return for a stock that currently sells for $100, pays a dividend in one year of $2, and has a constant growth rate of 8 percent.

Learn more about total return here:

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7 0

2 years ago

You own a portfolio equally invested in a risk-free asset and two stocks. If one of the stocks has a beta of 1.27 and the total

andriy [413]

Answer:

the beta be for the other stock in your portfolio is 1.73

Explanation:

The computation of the beta be for the other stock in your portfolio is shown below:

Given that

risk free asset contains the beta of 0

And,

market beta = 1

Now

1 = 1 ÷ 3 × 0 + 1 ÷ 3 × 1.27 + 1 ÷ 3 × beta

The beta of other stock = 1.73

hence, the beta be for the other stock in your portfolio is 1.73

Here we assume that one-third should be invested in all 3 things each

3 0

3 years ago

Accounting question, please help

dangina [55]

Answer:

Accrual basis.

Explanation:

The accrual basis of accounting refers to the accounting method where by revenues are recognized on the profit and loss statement when they are realized and not when the money is received.

8 0

3 years ago

The following information pertains to Crane Video Company.

AlekseyPX

Answer:

A. Cash balance per bank $ 9,066

Cash balance per books $9,066

B.Jul'31

Dr Cash $1,216

Dr Expenses for collection $ 26

Cr Note receivables $ 1,200

Cr Interest revenue $ 42

Jul'31

Dr Miscellaneous Expenses $ 34

Cr Cash $ 34

Explanation:

A. Preparation of Bank Reconciliation at July 31

BANK RECONCILIATION

Cash balance per bank, July 31, $7,863

Add Deposit in transit $ 1,800

Less Outstanding checks ($597)

Adjusted cash balance $ 9,066

Cash balance per books, July 31 $7,884

Collection of note receivable $1,216

($1200+$42-$26)

Less Bank service charge ($34)

Adjusted cash balance $ 9,066

B. Preparation of the adjusting journal entries at July 31 on the books of Crane Video Company

JOURNAL ENTRIES

Jul'31

Dr Cash $1,216

Dr Expenses for collection $ 26

Cr Note receivables $ 1,200

Cr Interest revenue $ 42

(To record note collection by bank)

Jul'31

Dr Miscellaneous Expenses $ 34

Cr Cash $ 34

(To record bank service charges)

8 0

3 years ago