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
Ede4ka [16]
3 years ago
11

The actual manufacturing overhead incurred at Hogans Corporation during April was $59,000, while the manufacturing overhead appl

ied to Work in Process was $74,000. The company's Cost of Goods Sold was $289,000 prior to closing out its Manufacturing Overhead account. The company closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true?
Manufacturing overhead was overapplied by $15,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $274,000

Manufacturing overhead was underapplied by $15,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $274,000

Manufacturing overhead was overapplied by $15,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $304,000

Manufacturing overhead was underapplied by $15,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $304,000
Business
1 answer:
balandron [24]3 years ago
5 0

Answer:

Manufacturing overhead was over-applied by $15,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $274,000

Explanation:

Under / over applied manufacturing overhead = Applied Manufacturing overhead - Actual Manufacturing overhead

Over-applied manufacturing overhead =  $74,000 - $59,000

Over-applied manufacturing overhead =  $15,000

Cost of Goods Sold = $289,000 - $15,000 = $274,000

Manufacturing overhead are over-applied by $15,000 and cost of goods sold is $274,000.

You might be interested in
Currently, Bruner Inc.'s bonds sell for $1,250. They pay a $120 annual coupon, have a 15-year maturity, and a $1,000 par value,
elena-14-01-66 [18.8K]

Answer:

2.11%

YTM 0.089142162

YTC 0.068070103

Difference: 0.021072059 = 0.0211 = 2.11%

Explanation:

To calculate each rate we must solve for a rate at which the future coupon payment and maturity (or call value) equals the market price:

This is solve for excel and goal seek tool

It could also be solve with a financial calculator

YTC:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

Coupon payment: $ 120

time 5 yeaars

rate 0.068070103 (solved with excel)

120 \times \frac{1-(1+0.0680701028057608)^{-5} }{0.0680701028057608} = PV\\

PV $494.5766

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity: $ 1,050 (call price)

time   5.00

rate  0.068070103

\frac{1050}{(1 + 0.0680701028057608)^{5} } = PV  

PV   755.42

PV c $494.5766

PV m  $755.4235

Total $1,250.0002

YTM:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

Cuopon payment: $ 120

time 15 years

rate 0.089142162 (solved with excel)

120 \times \frac{1-(1+0.0891421622982136)^{-15} }{0.0891421622982136} = PV\\

PV $972.2006

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity $ 1,000.00

time   15 years

rate  0.089142162 (solved with excel)

\frac{1000}{(1 + 0.0891421622982136)^{15} } = PV  

PV   277.80

PV c $972.2006

PV m  $277.7995

Total $1,250.0001

6 0
3 years ago
What are THREE purposes of monetary policy? A to eliminate competition B. to promote price stability c. to eliminate unemploymen
Oksanka [162]

Answer:

c. to eliminate unemployment,B. to promote price stability and F. to control federal spending

Explanation:

8 0
3 years ago
Silway travels organizes tours to a number of cities in illinois. the manager of the company examines a spreadsheet which is an
Andrei [34K]

The answer to the blank space is data.

The contents of the spreadsheet are the annual record of airfares to different cities from Chicago. This is what we call data – which are facts or statistics collected together for reference or analysis. Since Silway Travels plans to use the annual record information to contrast airfares during peak and off-season, it is clear that the data in this case would be used for analysis.

6 0
3 years ago
Rolling Coast Inc. issued BBB bonds two years ago. These bonds provided a yield to maturity (YTM) of 11.5 percent. Long-term ris
vaieri [72.5K]

Answer: 9.2%

Explanation:

The interest rate that Rolling Coast should expect to issue new bonds will be calculated thus:

Firstly, we will calculate the previous risk premium on BBB bonds which will be:

= 11.5% - 8.7% = 2.8%

Then, the new risk premium on BBB bonds will be:

= Previous risk premium / 2

= 2.8% / 2

= 1.4%

Then, the interest rate that Rolling Coast should expect to issue new bonds will be:

= 7.8% + 1.4%

= 9.2%

8 0
2 years ago
Jan pays $70 each month for her auto insurance policy. This regular payment is called<br> a.
ella [17]
Jan pays $70 each month for her auto insurance policy. This regular payment is called PREMIUM.

Premium is the payment made by the insured party to the insurer. It primary pays the insurer for bearing the risk of payout in the event that the insurance agreement coverage is needed. Premium payment may be monthly, quarterly, semi-annually, or annually.
8 0
3 years ago
Other questions:
  • What is the correct answer Even when competitive firms are unable to calculate marginal revenue product directly,
    8·1 answer
  • Which of the following statements is true? Free trade causes contraction of the export-oriented sector. Free trade causes contra
    11·1 answer
  • Describe a real or made up but realistic example of earned income that you or someone you know has received. What type of work w
    15·1 answer
  • Lots of Stuff Company reports the following data for its first year of operation. Cost of goods manufactured $455,000 Work in pr
    10·2 answers
  • Using your knowledge of SMART goals, select the best goal. I will start saving money toward a new house next week. I will save $
    10·1 answer
  • PLEASE HELP WILL GIVE BRAINLIEST TO CORRECT ANSWER
    7·1 answer
  • An installment note payment includes a.interest. b.principal plus interest. c.principal. d.None of these choices are correct.
    12·1 answer
  • A manufacturer of tiling grout has supplied the following data:
    10·1 answer
  • 7. DuPont Identity. X Corp. has net income of $20 million, Sales of $100 million, asset turnover of .6, and debt-equity ratio of
    9·1 answer
  • What is a commodity?
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!