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2 years ago

What is a short term goal

Business

1 answer:

AveGali [126]2 years ago

3 0

A short term goal is anything you want to do in the near future which can be today, next week, month or year etc. it is basically something you want to accomplish soon.

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8. Hayward Industries manufactures dining chairs and tables. The following information is available: Dining ChairsTablesTotal Co

Contact [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Dining Chairs - Tables - Total cost

Machine setups: 200 - 600 - $48,000

Inspections: 250 - 470 - $72,000

Labor hours: 2,600 - 2,400

A) A single overhead rate:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

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

Estimated manufacturing overhead rate= (48,000 + 72,000) / (2,600 + 2,400)= $24 per direct labor hour

Now, we can allocate overhead based on direct labor hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Dining Chairs:

Allocated MOH= 24*2,600= $62,400

Tables:

Allocated MOH= 24*2,400= $57,600

B) We have to calculate an overhead rate for each activity cost pool.

Overhead rate:

Machine setups:

Estimated manufacturing overhead rate= 48,000/800= $60 per machine hour set up

Inspections:

Estimated manufacturing overhead rate= 72,000/ 720= $100 per inspection

Based on the overhead rate, we can allocate overhead to each product.

Dining chairs:

Allocated MOH= 60* 200 + 100*250= $37,000

Tables:

Allocated MOH= 60*600 + 100*470= $83,000

C) We can conclude that activity cost allocation is more accurate than using a single rate plant-wide. We can allocate costs more efficiently.

7 0

3 years ago

Olivia is ordering trendy necklaces and earrings made with semi-precious stones from a supplier in Belize, for her city boutique

PtichkaEL [24]

Answer:

b. False

Explanation:

Remember, the term social responsibility in this context refers to an individual doing what would benefit society first, over any gain he may derive if he does otherwise.

For example, we are told that there is "low paying wages in Belize," which means low worker welfare, thus, even if no labor laws were been broken in his country, Olivia has a social responsibility to pay fair prices for the necklaces and earrings.

5 0

3 years ago

At January 1, 2017, Benny Enterprises reported a balance in the Equipment account of $45,000. During the year the company purcha

zhannawk [14.2K]

Answer:

$4,000

Explanation:

The operating activities records daily activities of a business entity transactions such as depreciation expense, loss or profit on sale of long term assets, change in working capital etc.

With regards to the above scenario, there is a loss of $4,000 on the sale of equipment whilst same was recorded under the operating activity section as positive.

It is to be noted that the sale and equipment of an equipment falls under investing activity section hence shod be recorded therein as such, reason it was not considered here.

6 0

3 years ago

Explain how insurance companies use statistics.

Luda [366]

Answer:

Statistics is used to determine what risk an insured poses to an insurance company, what percentage of policies is likely to pay out, and how much money a company can expect to pay out in claims

7 0

3 years ago

Under the flsa, what information concerning employees' wages earned must be maintained by the employer?

Ksju [112]

Under the FLSA, information concerning employees’ wages must be maintained by employer such as having to pay during the payroll period, the proper total additions to or deductions from wages should be followed and the amount and nature of the exempt pay should be followed correctly.

4 0

3 years ago