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4 years ago

A radial tire manufacturer produces products in two departmentslong dashdivisions a and

Business

1 answer:

lozanna [386]4 years ago

4 0

Let’s say that,

Manufacturing Overhead Cost = MOC

A= Division A

B = Division B

<span>Working Time = T (either machine hours or labor hours)</span>

The given variables are:

MOC (A) = $160,000

MOC (B) = $360,000

T (A) = 30,000 machine hours

T (B) = 21,000 labor hours

We are asked to find for the predetermined Overhead Allocation Rates. This is calculated using the formula:

Overhead Allocation Rates = MOC / T

Overhead Allocation Rate (A) = $160,000 / 30,000 machine hours

Overhead Allocation Rate (A) = $5.33 per machine hour

Overhead Allocation Rate (B) = $360,000 / 21,000 labor hours

<span>Overhead Allocation Rate (B) = $17.14 per labor hour</span>

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rodriguez corporation issues 6,000 shares of its common stock for $108,300 cash on february 20. prepare journal entries to recor

Klio2033 [76]

The journal entries to record this event under each of the following separate situations.

A Journal entry is a record of the commercial enterprise transactions inside the accounting books of a enterprise. A well documented journal entry consists of the ideal date, amounts to be debited and credited, description of the transaction and a unique reference wide variety. A journal entry is the first step within the accounting cycle.

Journal entry

No account and explanation Debit Credit

a Cash 54200

Common Stock (6000*6) 36000

Paid in Capital in excess of par value-Common Stock 18200

b Cash 54200

Common Stock 54200

c Cash 54200

Common Stock (6000*3) 18000

Paid in Capital in excess of stated value-Common Stock 36200

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3 0

1 year ago

Determine the missing amounts. (Round answers to 0 decimal places, e.g. 1,225.)

kotegsom [21]

Answer:

Selling Price_Variable Costs_Contribution Margin_CM Ratio

1. $640 _________$352 _______$288 __________45%

2. $300_________$207 _______ $93 __________69%

3. $1,300 _______ $975 _______$325 __________25 %

Explanation:

As per given data

Selling Price_Variable Costs_Contribution Margin_CM Ratio

1. $640 _________$352 _______$288 $ ________45%

2. $300_________$207 _______ $93 __________69%

3. $1,300 _______ $975 _______$325 __________25 %

(a)

Unit Contribution margin = Unit selling price - Unit Variable cost

Unit Contribution margin = $640 - $352 = $288

(b)

Contribution margin Ratio = Unit Contribution margin / Unit selling price = $288 / $640 = 0.45 = 45%

(c)

Unit Contribution margin = Unit selling price - Unit Variable cost

$93 = $300 - Unit variable cost

Unit variable cost = $300 - $93 = $207

(d)

Contribution margin Ratio = Unit Contribution margin / Unit selling price = $207 / $300 = 0.69 = 69%

(e)

25 = $325 / Unit selling price

Unit selling price = $325 / 25% = $1,300

(f)

$325 = $1,300 - Unit Variable cost

Unit Variable cost = $1,300 - $325 = $975

8 0

3 years ago

When the revenue for a business is less than its costs, it is making a profit.

devlian [24]

Answer: false

Explanation:

A firm is making profit when total revenue is greater than total cost.

A firm is making a loss when total revenue is less than total cost.

Profit or loss can either be accounting or economic.

Accounting profit or loss = Total revenue - Explicit cost

Economic profit or loss = Accounting profit or loss - implicit cost.

8 0

3 years ago

Discuss whether or not the below listed actions are tax avoidance or tax evasion. Then, discuss the ethical implications of empl

9966 [12]

Answer: Keeping a log of business expenses Ignoring earnings from a lawn mowing business (Tax evasion )

Not reporting interest earned on a savings account ( tax avoidance )

Keeping a log of contributions to a charity ( tax avoidance )

Not reporting tips Claiming your dependents as tax deductions ( tax evasion )

Explanation: by keeping a log of expenses and ignoring the income of a lawn business you are deliberately carrying out tax evasion because you are not declaring your total earnings and profits.

By not reporting interest earned on a savings account you are devising a means to pay a lower tax legally.

Keeping a log of donations to charity

this is a perfect example of tax avoidance because by donating to charity you are trying to avoid paying high taxes legally.

By not reporting tips earned you are trying to evade paying additional tax.

B. Usually when you engage in tax evasion you risk exposing yourself to greater cost, which usually higher than normal. Once discovered fine payable can be as much as three times the amount concealed.

5 0

4 years ago

U.S. federal government expenditures are comprised of purchases of goods and services (defense spending plus spending on all d

Afina-wow [57]

Answer:

True

Explanation:

Money spent by the government into the economy for welfare of the household

5 0

4 years ago