Answer:
XOXO
1. Predetermined Manufacturing Overhead (MOH) rate = estimated overhead divided by total direct labor = $4,600/460 = $10 per direct labor
2. Analysis of cost per set for Job 12:
Raw materials:
Electronic parts: 40 units at $20 per unit = $800
Plastic: 10 kilograms at $10 per kilogram 100
Labor hours: 60 hours at $25 per hour 1,500
Manufacturing overhead applied $10 per 600
labor hour
Total Cost $3,000
Divided by 30 sets = $100 per set
Explanation:
The manufacturing overhead rate is the rate at which overhead will be charged to the jobs completed as part of the cost of production. As an estimate, it can be overapplied or underapplied.
Answer:
C. current period costs less cost of beginning work-in-process inventory
Explanation:
While calculating the current period manufacturing under FIFO method the cost of beginning work in process will be deducted as was incurred in previous period, for the current period only the current period cost will be considered.
Though the FIFO method is based on first in first out principle where opening inventory will be sold first, but the cost incurred earlier in previous period will not be considered.
Correct statement is C
Answer:
sold
Explanation:
Underperforming restaurants are those restaurants which does not perform well. The restaurant does not run properly and no people or less people visits the restaurant for eating.
This can be due to several factors. The restaurant's location may not be good, the restaurant may not provide good quality and tasty food, or people might not find their required menu in that restaurant. All these factors leads to less people visiting the restaurant and less revenue generation.
In such a case, the owner of the restaurant must sell the restaurant to some other party so that he does not undergo any losses. By selling the property he will get some amount of his investment which he could utilize in his further projects.
Also by selling the restaurant, the employees of that restaurant will not go out of job and can feed their family.
So, the restaurant should be sold.
Answer:
- Income = $10,000
- Adjusted Gross Income (AGI) Deduction = $0
- Claim $10,000 as itemized deduction due to expenses
Explanation:
The activity being a hubby does not exempt it from tax so the $10,000 will be included as income for tax purposes and there will be no deduction for this from the AGI.
She can however, claim her expenses as itemized deductions. There is no tax on interest payment so expenses deducted are:
= 4,000 + 6,500 - 500
= $10,000