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Trava [24]
3 years ago
14

Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the

company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,000 and 26,000, respectively. Required: 1. Compute the predetermined overhead rate. 2. Compute applied manufacturing overhead. 3. Compute over- or underapplied manufacturing overhead.
Business
1 answer:
Shalnov [3]3 years ago
7 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

The estimated total overhead= $325,000

Estimated machine hours= 25,000

Actual manufacturing overhead and machine hours were $372,000 and 26,000, respectively.

First, we need to calculate the predetermined manufacturing overhead rate:

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

Predetermined manufacturing overhead rate= 325,000/25,000

Predetermined manufacturing overhead rate= $13 per machine-hour

Now, we can allocate overhead:

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

Allocated MOH= 13*26,000= $338,000

Finally, we determine the under/over allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 372,000 - 338,000= $34,000 underallocated

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The correct question is given below:
Kyla replaces Lomax in his job at Motor Vehicle Manufacturing Corporation (MVMC).

Refer to Fact Pattern 18-1. Lomax believes that he has been discriminated against on the basis of his age. For the Age Discrimination in Employment Act to apply

6 0
1 year ago
Suppose the rate of return on short-term government securities (perceived to be risk-free) is about 5%. Suppose also that the ex
Natalka [10]

Answer:

The expected rate of return on the market portfolio is 14%.

Explanation:

The expected rate of return on the market portfolio can be calculated using the following capital asset pricing model (CAPM) formula:

Er = Rf + B[E(Rm) - Rf] ...................... (1)

Where:

Er = Expected rate of return on the market portfolio = ?

Rf = Risk-free rate = 5%

B = Beta = 1

E(Rm) = Market expected rate of return = 14%

Substituting the values into equation (1), we have:

Er = 5 + 1[14 - 5]

Er = 5 + 1[9]

Er = 5 + 9

Er = 14%

Therefore, the expected rate of return on the market portfolio is 14%.

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3 years ago
Exercise Bicycle Company is expected to pay a dividend in year 1 of $1.20, a dividend in year 2 of $1.50, and a dividend in year
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Answer:

E.  $40.68

Explanation:

The computation of the stock worth today is shown below:

= (Dividend in year 1 ÷ 1 + required rate of return^number of years ) + (Dividend in year 2 ÷ 1 + required rate of return^number of years) + (Dividend in year 3 ÷ 1 + required rate of return^number of years)  + (Dividend in year 3 ÷ 1 + required rate of return^number of years) × (1 + growth rate) ÷ (required rate of return - growth rate)

= $1.2 ÷ 1.14 + $1.5 ÷ 1.14^2 + $2 ÷ 1.14^3 + $2 ÷ 1.14^3 × (1 + 10%) ÷ (14%-10%)

= $40.68

We simply applied the above formula

3 0
3 years ago
Currency (paper money plus coins) constitutes about: ____________
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Answer:

a. 57 percent of the U.S. M1 money supply.

7 0
2 years ago
You rent a car for $29.95. The first 150 miles are free, but each mile thereafter costs 15 cents. You plan to drive it 200 miles
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Answer:

marginal cost is 15 cents

Explanation:

given data

car rent = $29.95

distance d1 = 150 miles

cost = 15 cents per miles

distance d2 = 200 miles

to find out

marginal cost

solution

first we find here cost for driving d2

cost for 150 to 200 miles  = 15 × 50

cost for 150 to 200 miles  = 750 cents = $7.5

so

cost for driving d2  = $7.5 + $29.95

cost for driving d2 = $37.45

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marginal cost will be

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marginal cost = 7.5 / 50  = 0.15

marginal cost is 15 cents

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3 years ago
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