Answer:
Predetermined Overhead Rate = $11 per labor hour
Explanation:
The predetermined Overhead rate for Stanford Enterprise is calculated by dividing the estimated manufacturing overheads with estimated total direct labor hours.
Actual manufacturing overhead = $302,750
Actual direct labor hours = 27,760 hours
Estimated/ budgeted labor hours = 25,000 hours
budgeted manufacturing overheads = $275,000
Predetermined OH rate = $275,000 / 25,000 = $11 per hour
Actual OH rate = $302,750 / 27,760 hours = $10.91 per hour
Answer:
Explained.
Explanation:
Joe being the lead accountant for his company so, he prepares the financial reports.
Joe made mistakes in financial report making his manager angry because the resources at the Joe's company are limited and financial report that are timely and reliable would have helped the company to attract some financial investment.
Answer:
Promotion.
Explanation:
Promotion is defined as the various activities that are carried out in bringing information about a product to the consumer. Various means are used to promote a product including advertisement via radio, television, internet, or newspapers. Referral is also used to promote products, and word of mouth.
Promotion is one of the four Ps of the marketing mix.
Marketing mix used is unique to a particular bcustomer type, for example the internet is a better channel to promote products to college students than newspapers.
Marketing mix is made up of price, product, place, and promotion.
Answer: A. Products were overcosted during the year.
Explanation:
At the budgeted figures of $25,000 fixed overhead costs and the 2,000 units of production, the predetermined fixed overhead rate is:
= 25,000 / 2,000
= $12.50 per unit
However, the company then produces 2,200 units at the same cost of $25,000 making the actual predetermined fixed overhead rate:
= 25,000 / 2,200
= $11.36 per unit
<em>The actual rate is less than the predetermined rate which means that the products had originally be overcosted by being apportioned higher expenses. </em>
False, Nathan should not include this in his budget.
When budgeting, there are several things that one should include such as:
- net income
- debt repayments
- food
- utilities
- insurance
- savings and others
Notice how one should include their net income not their gross income. Net income is what comes after tax and this is the disposable income that a person has and can spend from.
In conclusion, Nathan should only include his net income and as this commission is before taxes, he should not include it.
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