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
Dominik [7]
3 years ago
8

Marine, Inc., manufactures a product that is available in both a flexible and a rigid model. The company has made the rigid mode

l for years; the flexible model was introduced several years ago to tap a new segment of the market. Since introduction of the flexible model, the company’s profits have steadily declined, and management has become concerned about the accuracy of its costing system. Sales of the flexible model have been increasing rapidly.Overhead is applied to products on the basis of direct labor-hours. At the beginning of the current year, management estimated that $672,000 in overhead costs would be incurred and the company would produce and sell 2,000 units of the flexible model and 10,000 units of the rigid model. The flexible model requires 3.0 hour(s) of direct labor time per unit, and the rigid model requires 1.50 hour(s). Direct materials and labor costs per unit are given below: Flexible Rigid Direct materials cost per unit $135 $80 Direct labor cost per unit $30 $15 Required: Compute the predetermined overhead rate using direct labor-hours as the basis for allocating overhead costs to products.
Business
1 answer:
Viefleur [7K]3 years ago
8 0

Answer:

Estimated manufacturing overhead rate= $32 per direct labor hour

Explanation:

Giving the following information:

At the beginning of the current year, management estimated that $672,000 in overhead costs would be incurred and the company would produce and sell 2,000 units of the flexible model and 10,000 units of the rigid model.

The flexible model requires 3.0 hour(s) of direct labor time per unit, and the rigid model requires 1.50 hour(s).

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base=

Estimated manufacturing overhead rate= 672,000/(2000*3 + 10000*1.5)= $32 per direct labor hour

You might be interested in
As of December 31, Plush has not recorded any insurance expense for the year. The only insurance policy it owns is the one purch
konstantin123 [22]

Answer:

Debit Insurance expense    $10,000

Credit Prepaid Insurance    $10,000

Being entries to recognize insurance expense for the period (August to December).

Explanation:

Given;

Insurance policy was purchased on July 10 to run for 3 years.

Cost of policy = $72,000

Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)

Monthly depreciation = $72,000/(3 × 12)

                                    = $2,000

Total amortization between August and December = 5 × $2,000

                                                                                      = $10,000

Journal entries

Debit Insurance expense    $10,000

Credit Prepaid Insurance    $10,000

Being entries to recognize insurance expense for the period (August to December).

7 0
3 years ago
To reconcile the number of physical units using the weighted average method of process costing, one must determine whether the u
Shkiper50 [21]

For one to be able to reconcile the number of physical units using the weighted average method of process costing, one must determine if the units were completed or still in process at the end of the period.

<h3>What is weighted average method?</h3>

The weighted average cost method is known to be a kind of process that tends to divides the cost of goods that is available using the sale by the number of units that is present for sale.

Conclusively, To find a weighted average, one has to multiply all the number by its weight, then add all the results together.

learn more about weighted average method from

brainly.com/question/26595359

8 0
1 year ago
Lyndon, a citizen of Maryland, obtains a federal license to operate a commercial fishing boat in a certain area off the Maryland
Margarita [4]

Answer:

d) ​the supremacy clause

Explanation:

Lyndon a man from Maryland, receives a federal license to perform a commercial fishing boat in a particular region off the Maryland shore. Maryland's state legislature passes a law that bans all commercial fishing in that region. The state law most likely breaks <u>the supremacy clause</u>. In the supremacy clause, it authenticates that the federal laws made will be agreeable to it. Also, the agreements should be made under its authorization

7 0
3 years ago
Martin Jackson receives an hourly wage rate of $20, with time-and-a-half pay for all hours worked in excess of 40 hours during a
labwork [276]

Answer:Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; social security tax rate, 6.0%; and Medicare tax rate, 1.5%.

Explanation:

8 0
3 years ago
The marginal propensity to consume is the: a overall portion of disposable income that is consumed (and not saved) b amount by w
Neporo4naja [7]

Answer:

.d amount by which consumption increases when disposable income increases by $1.

Explanation:

The marginal propensity to consume is measured by measuring what proportion of a $1 increase in income is spend on consumption, so if the marginal propensity to consume is 0.85 it means that when income increases by $1 consumption will increase by $0.85 as (0.85*1)= 0.85

8 0
3 years ago
Other questions:
  • During the _______ stage of the product life cycle, sales rise, profits rise rapidly, and there are a few but increasing number
    15·1 answer
  • Driving at slower speeds than traffic flow _____________ .
    6·1 answer
  • Checking accounts at a local bank carry an average balance of $3,000. The bank turns over its balance 6 times a year.
    14·1 answer
  • In order to craft effective business messages, beginning writers should follow the writing process closely. The first step in th
    14·1 answer
  • The acquisition cost of a certain raw material changes frequently. The book value of the inventory of this material at year end
    12·1 answer
  • Which of the following is not true about the law of diminishing returns? It is a short run phenomenon. It refers to diminishing
    9·1 answer
  • Sheridan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, ex
    15·1 answer
  • Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with can
    14·1 answer
  • To the extent that Italian Americans have intermarried with Anglo Americans and are proportionately represented in various socie
    10·1 answer
  • The cases filed at The Cross Company related to gender discrimination include one in which a 33-year-old sales representative wa
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!