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givi [52]
3 years ago
9

Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $2,990,000 (230,00

0 hours at $13/hour) and that factory overhead would be $1,530,000 for the current period. At the end of the period, the records show that there had been 210,000 hours of direct labor and $1,230,000 of actual overhead costs. Using direct labor hours as a base, what was the predetermined overhead rate
Business
1 answer:
brilliants [131]3 years ago
8 0

Answer:

Predetermined manufacturing overhead rate= $6.65 per direct labor hour

Explanation:

Giving the following information:

The company's executives estimated that direct labor would be $2,990,000 (230,000 hours at $13/hour) and that factory overhead would be $1,530,000 for the current period.

<u>To calculate the predetermined overhead rate, we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,530,000/230,000

Predetermined manufacturing overhead rate= $6.65 per direct labor hour

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During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follo
Daniel [21]

Answer:

The total revenue Solitare would report over the two months is $99 with a gross loss of $11.74

Explanation:

Particulars                                                  Amount ($)

Sales (January & February)

- Wizard Inc                                                     $50

- Spyder Corp                                                 $50

Less: Discount allowed to Wizard Inc           <u>$1       </u>    ($50 * 2%)

Net Sales                                                         $99

Less: Cost of goods sold (60.6+50.14)          <u>$110.74</u>

Gross Loss                                                       <u>$11.74</u>

8 0
2 years ago
Kay, an art collector, promised Hammer, an art student, that if Hammer could obtain certain rare artifacts within 2 weeks, Kay w
IRINA_888 [86]

Answer:

Hammer would prevail against Kay based on:_______.

A. Unilateral contract.

Explanation:

A unilateral contract is a contract created by an offer that can only be accepted by performance. To form the contract, the party making the offer (called the “offeror”) makes a promise in exchange for the act of performance by the other party.

in relation to the case in the contract, Hammer had carried out the duties expected of him thus making the contract valid under a unilateral contract.  

since in a unilateral contract, the offer can only be accepted when the other party completely performs the requested action.

Hence  Hammer would prevail against Kay based on Unilateral contract.

5 0
3 years ago
When the seller requires that only certain dealers carry its products and also that these dealers not handle competitors' produc
RUDIKE [14]

Answer:

exclusive dealing

Explanation:

Exclusive dealing -

It is the method , where a deal is set up between a specific supplier and the wholesaler or the retailer , where the no other distributor would be able to receive the supply , is referred to as exclusive dealing.

In this scenario no other dealer can not handle the product in any case.

Hence , from the scenario of the question,

The correct option is exclusive dealing .

3 0
3 years ago
A ___________ is who a creditor may turn the account over to after exhausting its efforts to get a consumer to make past-due pay
dmitriy555 [2]

Answer: collection agency

Explanation:

7 0
2 years ago
Statistical process control (SPC) is the application of statistical techniques to determine whether a quantity of material shoul
makkiz [27]

Answer:

True

Explanation:

Statistical process control (SPC) is a method of quality control which employs statistical methods to monitor and control a process. This helps to ensure that the process operates efficiently, producing more specification-conforming products with less waste (rework or scrap).

By implementing statistical process control, the goal of eliminating or greatly reducing costly product recalls is realized. This is done by analyzing manufacturing data as it happens so that problems are stopped as they happen—instead of being caught after deployment.

The aim of Statistical Process Control (SPC) is to establish a controlled manufacturing process by the use of statistical techniques to reduce process variation. A decrease in variation will lead to: better quality; lower costs (waste, scrap, rework, claims, etc.).

8 0
3 years ago
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