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laiz [17]
3 years ago
9

Tungsten, Inc. manufactures both normal and premium tube lights. The company allocates manufacturing overhead using a single pla

ntwide rate with machine hours as the allocation base. Estimated overhead costs for the year are $ 104 comma 000. Additional estimated information is given below. Normal Premium Machine hours​ (MHr) 27 comma 000 41 comma 000 Direct materials $ 57 comma 000 $ 480 comma 000 Calculate the predetermined overhead allocation rate.​ (Round your answer to the nearest​ cent.)
Business
1 answer:
lara [203]3 years ago
4 0

Answer:

Estimated manufacturing overhead rate= $1.53 per machine hour

Explanation:

Giving the following information:

The company allocates manufacturing overhead using a single plantwide rate with machine hours as the allocation base.

The estimated overhead costs for the year are $ 104,000.

Machine hours​ (MHr)= 27,000 + 41,000= 68,000 machine hours

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

Estimated manufacturing overhead rate= 104,000/68,000= $1.53 per machine hour

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LBM, Inc. issues 25,000 shares of common stock for $20 per share. The stock has a par value of $1 per share. By what amount woul
Arisa [49]

Answer:

$475,000

Explanation:

Calculation for By what amount would LBM credit capital in excess of par

Dr Cash $500,000

(25,000 shares*$20 per share)

Cr Common Stock $25,000

(25,000 shares*$1 per share)

Cr Capital in excess of par $475,000

($500,000-$25,000)

Therefore based on the above Journal entry and calculation the amount that LBM would credit as capital in excess of par will be $475,000 ($500,000-$25,000).

5 0
3 years ago
Regina Corp. is a property and casualty insurance company in its third year of operations and has a net loss of $100,000. Regina
sergejj [24]

Answer:

$24,000

Explanation:

Total Taxable income of first and second year = $10,000 + $30,000 = $40,000

Net loss in 3rd year = $100,000  

Net Operating loss carry back = Regina Taxable income Total of first and second year of operations

Net Operating loss carry back = $40,000

Net Operating loss Carry forwards = Net loss - Net Operating loss carry back

Net Operating loss carry forward = $100,000 - $40,000

Net Operating loss carry forward = $60,000

Income tax rate = 40%

Income tax benefit from the Net Operating loss carry forward = Net Operating loss carry forward * Income tax rate

Income tax benefit from the Net Operating loss carry forward = $60,000 * 40%  

Income tax benefit from the Net Operating loss carry forward = $24,000 .

6 0
3 years ago
If your paycheck indicates that you worked 7.5 hours each day in an 8-day pay period, how many hours did you work in all? A. 54
allsm [11]
Hi!

To solve this multiply

7.5 x 8 = 60

The answer is C. 60 hours

Hope this helps! :)

6 0
3 years ago
My grandma just died and when my dad told me this he said lol what does it mean?
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Answer:

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2 years ago
Read 2 more answers
The Tax Cuts and Jobs Act passed in December, 2017, eliminated any personal exemptions ($4,050 per preson) but increased the sta
Sergio039 [100]

Answer:

Answer for the question = the threshold went down by = $9000.

The Tax Cuts and Jobs Act passed in December, 2017, eliminated any personal exemptions ($4,050 per preson) but increased the standard deduction to $12,000 for single filers and $24,000 for joint filers beginning in 2018 compared to $6,350 and $12,700 respectively in 2017. Ignoring any other changes made by the new tax law (and there are other important changes such as expansion of a child tax credit), what would the threshold for having any taxable income for a family of two adults and three dependent children be in 2018 compared to 2017? (Hint: the threshold in 2017 was the standard deduction for a married couple with five personal exemptions. "

explanation is attached .

Explanation:

4 0
3 years ago
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