All categories

4 years ago

Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold

Business

1 answer:

Bogdan [553]4 years ago

4 0

Answer:

This question has two requirements answer of each requiremnt is given below.

Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS $____

Applied Overhead = 532,000 * 80% =$ 425,600

This show that overhead are over apllied, so

Adjusted COGS = $1,890,000 - (425,600 -423,600)

= $ 1,888,000

Calculate the overhead variance for the year. $____

Overhead variance = Applied Overhead - Actual Overhead

= 425,600 -423,600

= $ 2000 (Favorable variance)

You might be interested in

Suppose that the government of Ping's hears of the working conditions and the country seizes the Quality Dragon plant in which P

KATRIN_1 [288]

Answer:

The answer is: A) expropriation

Explanation:

Expropriation is the seizure of private property by a government entity or government agency for the purpose of public interest. Usually owners that lose property due to expropriations, receive some type of compensation for their loss. It also can refer to private property being taken away by another private entity with the authorization of a government entity or agency. A common example of expropriation is land being taken away for building roads or dams.

In this case the Quality Dragon plant was expropriated by a private entity who was authorized by the government and the owner was received a monetary compensation for his loss.

5 0

3 years ago

Product V72 sells for $20 per unit as is, but if enhanced it can be sold for $25 per unit. The enhancement process will cost $52

Furkat [3]

Answer:

It will incur an Opportunity cost of $8,000.

Explanation:

It will incur the opportunity cost of $8000 because the additional unit produces by the company then the additional revenue that is generated will be equal to the amount (25 - 20) x 12,000 = 60,000. Since the additional cost, that incurs for the production of 12000 units is 52000. Therefore the profit earned is $8000.

So if the company does not produce it then it will lose the profit of $8000.

3 0

3 years ago

Personal selling can take place in all situations except when

olasank [31]

Answer:

Through the newspaper ads.

Explanation:

Personal selling is one of the ways of selling of products by various businesses where the seller and the customers come in direct contact or face to face in order to discuss the features, benefits, and worthiness of any product that the seller is interested in selling This can be done through direct face to face interaction, on telephones, through video conferencing, and also on the internet but not through newspaper ads.

8 0

3 years ago

“For deposit only” is what type of endorsement check?

MrRissso [65]

If you write "for deposit only" on the back of a check made out to u and then sign your name , the check the check can only be desposted to your account , this is called restrictive indorsement and it should prevent you or any other person from cashing the check

8 0

3 years ago

Read 2 more answers

Stephanie works 40 hours a week at a wage rate of $25. This, her total weekly income is $1000. On this income, she pays tot

telo118 [61]

Stephanie's marginal tax rate is 15%.

<u>Explanation:</u>

The Average tax rate is 8%

she pays $3.75 as the tax on $25 which makes tax rate at this point =3.75/25

= 15%

The Marginal tax rate is the percentage of income that has to be paid as tax as a result of a change in the income bracket.

For instance, if tax rate until $1-$1000 is 10%

and for $1000 and above is 20%.

So for every $ earned over and above $1000.The marginal tax rate for that sum is 20%.

3 0

3 years ago