Which of these forms should you use to file your tax return?

Spencer Inc. applies overhead to production at a predetermined rate of 80% based on direct labor cost. Job No. 130, the only job

Romashka [77]

Answer:

Direct material= $5,600

Explanation:

First, we need to calculate the direct labor added to Work in Process:

Direct labor= allocated overhead / predetermined overhead rate

Direct labor= 6,400 / 0.8

Direct labor= $8,000

Now, by difference, the direct materials:

Direct material= Ending balance - allocated overhead - direct labor

Direct material= 20,000 - 6,400 - 8,000

Direct material= $5,600

3 0

3 years ago

Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of rec

Gre4nikov [31]

Answer:

a. 5% of $ 650,000= $ 32,500

b. Required Adjustment = $ 19,100

c. Required Adjustment = $ 34,900

Explanation:

Days Past Due

Total 0 1 to 30 31 to 60 61 to 90 Over 90

Accounts- $650,000 $412,000 $106,000 $52,000 $34,000 $46,000

receivable

Percent- 2% 3% 6% 8% 11%

uncollectible 22,320 8,240 3180 3120 2720 5060

a. 5% of $ 650,000= $ 32,500

B . Unadjusted Balance = $ 13,400 Credit

Estimated Balance= $ 32,500

Required Adjustment = $ 19,100

C. Unadjusted Balance = $ 2,400 Debit

Estimated Balance= $ 32,500

Required Adjustment = $ 34,900

4 0

3 years ago

Georgia, the outside sales rep for a major building supply company, reads a report stating that building permits are down dramat

Rus_ich [418]

Answer:

(B) Advice the production and purchasing department to produce or order smaller quantities of products.

Explanation:

According to my research on basic economics and business owning I can say that the best thing for Georgia to do in this situation in order to help her company become more value driven is to Advice the production and purchasing department to produce or order smaller quantities of products. This is because since product is not selling fast enough they should sell what they already have before producing more, otherwise they will be wasting money on products which will eventually cause them to be overflowing stock. Thus losing money.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0

3 years ago

Trumbull Corporation budgeted sales on account of $120,000 for July, $211,000 for August, and $198,000 for September. Experience

GrogVix [38]

Answer:

a. $169,800

Explanation:

As for the provided information we have,

Sales data, for each month

July $120,000

August $211,000

September $198,000

Cash receipt budgeted for September shall be:

36% of sale of the month of July = $120,000 $\times$ 36% = $43,200

60% of sale of the month of August = $211,000 $\times$ 60% = $126,600

Thus, total expected amount = $169,800

Therefore, correct option is

a. $169,800

4 0

3 years ago

What should be the current price of a share of stock if a $5 dividend was just paid, the stock has a required return of 20%, and

Gala2k [10]

Answer:

Current Price of the Share Stock is $ 37.86 (D)

Explanation:

Using dividend valuation method with a constant growth rate assumption, share price is calculated as : Po =D1/(Ke-g).

Where; Po ⇒Market Value excluding any dividend currently payable

D1= Do(1+g)⇒Expected dividend in one year's time

Ke =Required rate of return by shareholders

g= Dividend growth rate

Calculation

D1 = 5(1+0.06)= $5.3

Hence, Po= 5.3/(0.20-0.06)

Po=$37.86

The share price is expected to reflect the future expected stream of income i.e dividends and capital gains ,discounted at an appropriate cost of capital.

Some of the assumptions of dividend valuation method include but not limited to the following:

- it assumed that investors act rationality and in the same way ;

-the dividend either show growth or no growth;

-the discount rate used exceeds the dividend growth rate.

5 0

3 years ago