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:
1,000 shares
Explanation:
The 318 attribution rule states that stock owned directly or indirectly by a partnership is considered to be owned by any partner that owns 5% or more in the business.
This is relevant to family owned businesses and is a way to mark out principal owners of a business in order to avoid tax evasion and fraud.
In this scenario John directly owns 700 of the outstanding shares. But according to the 318 attribution rule, since he he is a 50% partner he owns half of the outstanding 2,000 shares. That is 1,000 shares.
Answer:
unrealized gain from change in market value = $10,617
Explanation:
Bonds carrying value = $739,816
amortization of bond discount = ($739,816 x 6%) - ($800,000 x 5.5%) = $389
amortization of bond discount = ($740,205 x 6%) - ($800,000 x 5.5%) = $412
bond's carrying value = $740,205 + $412 = $740,617
unrealized gain = carrying value - market value = $740,617 - $730,000 = $10,617
