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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

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Carlisle Transport had $4,716 cash at the beginning of the period. During the period, the firm collected $1,517 in receivables,
Gnesinka [82]

Answer:

the  cash balance at the end of the period is $3,551

Explanation:

The computation of the cash balance at the end of the period is shown below:

= Cash Balance at beginning of the period + received from receivables - paid to suppliers- cash expenses

= $4,716 +  $1,517 - $2,182 - $500

= $3,551

Hence, the  cash balance at the end of the period is $3,551

The above formula should be used for the same

4 0
3 years ago
Ash, Inc., has declared a dividend of $6.30 per share. Suppose capital gains are not taxed, but dividends are taxed at 20 percen
alexira [117]

Answer:

$89.41

Explanation:

Data provided in the question:

Dividend declared = $6.30 per share

Tax rate = 20%

Selling price of the stock = $94.45

Now,

Aftertax dividend = Dividend × ( 1 - Tax rate )

= $6.30 × ( 1 - 0.20 )

= $5.04

Thus,

Ex-dividend price = Selling price - Aftertax dividend

or

Ex-dividend price = $94.45 - $5.04

or

Ex-dividend price = $89.41

8 0
3 years ago
Which of the following can help a business monitor quantitative business factors?
Georgia [21]

This system can help a business monitor quantitative business factors

Inventory and transaction systems

Explanation:

The Inventory and transaction systems are usually there to report on the tangible benefits of the transaction that are being made and the commerce that is happening for the business over all.

These inventories are thus to be deigned and computed in the manner that would best align with the interest of the company and the firm that is needed for the quantitative business.

Quantitatively, one would need substantial data and this can provide it well.

3 0
3 years ago
Mensa is a society for "geniuses." one way to qualify for membership is having an iq at least 2.5 standard deviations above aver
7nadin3 [17]
According to the scale, an average person would posses the mean of 100 IQ <span>and standard deviation of  15. If to be a member of mensa one should have </span><span>an iq at least 2.5 standard deviations above average, the minimum iq should be: 
</span>
2.5 = (x-100)/15

x = 137.5 >>>>> Less than 1% population belong to this IQ group or higher.


7 0
3 years ago
Read 2 more answers
Drag the tiles to the correct boxes to complete the pairs. Match the components of an income statement with their description.
Korolek [52]

Answer:

see below

Explanation:

<u>1. COGS</u>

Expenses incurred for manufacturing or obtaining the products and materials sold during a given period.

COGS are the direct expenses in the production process. They include labor, materials, and direct overheads.

<u>2. Gross profit </u>

Balance arrived at after deducting the expenses incurred on the goods sold from the revenue earned by selling the goods.​

The revenues must exceed the expenses for a business to realize a gross profit. Otherwise, it will be a loss.

3<u>. Operating expenses</u>

Expenses that a business incurs to carry out its daily operations. They are the indirect cost of production. Examples include insurance, administrative, and security costs.

4. <u>Selling expenses </u>

Money spent on advertising, traveling, and promotions. These are the costs incurred in the selling process.

5 0
2 years ago
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