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zhenek [66]
3 years ago
13

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies m

anufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $592,000 of total manufacturing overhead for an estimated activity level of 74,000 machine-hours. During the year, a large quantity of furniture on the market resulted in cutting back production and a buildup of furniture in the company's warehouse. The company's cost records revealed the following actual cost and operating data for the year Machine-hours Manufacturing overhead cost Inventories at year-end: 67,000 $551,000 Raw materials Work in process (includes overhead applied of $37,520) Finished goods (includes overhead applied of $101,840) $ 13,000 $ 139,300 $ 378,100 s 1,472,600 Cost of goods sold (includes overhead applied of $396, 640) Required 1. Compute the underapplied or overapplied overhead. 2. Assume that the company closes any underapplied or overapplied overhead to Cost of Goods Sold. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 3. Assume that the company allocates any underapplied or over appliedoverhead proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the appropriate journal entry. (If no entry is required for a
Business
1 answer:
inessss [21]3 years ago
7 0
So uh what exactly do you need help with?
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When the economy is at full​ employment, which types of unemployment​ remain?
Nataliya [291]

Answer: A

Explanation:

When the economy is at full employment there is always a natural rate of unemployment which is constituted by the amount of employment caused by structural and frictional factors in the labour market

5 0
3 years ago
Read 2 more answers
The competitive situation where at&t, mci, and sprint control approximately 80 percent of the international long-distance te
Leno4ka [110]

Oligopoly

What is Oligopoly?

In Oligopoly markets, a limited number of suppliers control the market. They are present in every nation and a wide variety of industries. While some oligopoly markets are much more competitive than others, others can at least appear to be so. Investigations into allegations of coordinated behaviour or a lack of fierce competition are frequently requested from competition authorities.

To learn more about Oligopoly

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6 0
2 years ago
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses a
Ivenika [448]

Answer:

$11,400

Explanation:

The expenses are allocated to different department based on different suitable allocation basis. These basis are also known as the cost drivers.

As per given information

Office Expenses     Total           Allocation Basis

Salaries                   $42,000    Number of employees

Depreciation           $30,000   Cost of goods sold

Advertising             $64,000    Net sales

Item                                Drilling      Grinding     Total

Number of employees   1,200         1,800         3,000

Net sales                      $370,000   $555,000  $925,000

Cost of goods sold      $125,400    $204,600  $330,000

Depreciation is allocated to department based on the cost of goods sold by each department.

Depreciation expense allocation

To drilling department = Depreciation expense x Cost of goods sold ratio = $30,000 x $125,400 / $330,000 = $11,400

5 0
3 years ago
The _______________________ used external pay data to identify the relative value of jobs based on what other employers pay for
Delicious77 [7]

Answer:

The correct answer is letter "D": market pricing method.

Explanation:

The market pricing method for calculating wages levels collects information from other companies with similar operations, geographical areas, and job positions to compare them with the data of the business so an average salary can be determined for its employees. With this analysis, institutions remain competitive when it comes to salaries or can decide to provide workers higher-than-market salaries to attract qualified personnel.

Companies should evaluate the wages market every two (2) to three (3) years to find out if conditions have changed.

6 0
3 years ago
1) Illustrate how the type of work that he or she does influences a person's lifestyle. For example, contrast a farmer, a factor
steposvetlana [31]

Answer:1)The type of one job influences his lifestyle

2)No

3) value of self services in an economy includes improved customer services,more convenient , reduced overhead cost, customer satisfaction, increase productivity.

Explanation:Type of job tells a lot about people lifestyle,eg a person who spend very long hours at work hardly have adequate rest and social life.

Contrasting between farmers, school teacher and factory worker,the factory workers are semi skilled,teachers skilled and farmer could be non skilled ,the school teacher schedule is always fixed 8am to 4pm for instance so they are more organized,they are mostly in formal attire while a factory worker run shifts and may be see in safety boots and overall and may have little or erratic schedules .the farmer on the other hand has no schedule ,has relaxed routine,wear casuals and not necessarily tidy,does things when willed as most are self employed.

Even in their eating habits,farmers eat more of fresh food,while teachers eat processed foods and factory workers are more likely to eat junks or snacks.

While a school teacher may be seen with books ,a factory worker may be seen with machines and equipment and farmers with tools ,tractors etc

2)An economy can only thrive on goods and services,as both are needed for survival,a service person need commodities like foods,clothes etc to survive while a good traders cannot do without services like transportation,banking etc

3)the value of self service include overhead cost reduction,self service involves customer serving themselves with limited involvement of a third party or vendor e.g payment at pos at gas station, uses of ATM for cash withdrawal etc.

The organization uses less resources like staff,PCs to run self service this fund can be invested in other areas.

Increase customer service occurs as a result of self service , customer can do their trasaction at their pace and convenience.

4 0
3 years ago
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